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Internal Audit 2.0: Paperless and Continuous Auditing Trends

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Technology is altering the traditional approach to internal audits. Instead of reviewing reams of paperwork, today’s auditor is learning to use electronic records. In turn, going paperless facilitates a concept known as “continuous auditing,” where internal auditors continually gather data to …

Written by Kemper on Thursday December 12, 2019


Making College More Affordable with 529 Plans

Image: 2019-12/college-529.jpg The affordability of a college education is seemingly out of reach for many Americans: in-state tuition and fees at public universities have increased by a staggering 237 percent over the course of the past 20 years. Choosing an appropriate savings plan may make a big difference.

Written by Kemper on Wednesday December 11, 2019


Selling Securities by Year End? Avoid the Wash Sale Rule

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If you’re planning to sell assets at a loss to offset gains that have been realized during the year, it’s important to be aware of the “wash sale” rule. How the Rule Works Under this rule, if you sell stock or securities for a loss and buy substantially identical stock or securities back …

Written by Kemper on Tuesday December 10, 2019


Reasons Why Cash is King

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In financial reporting, investors and business owners tend to focus on four key metrics: 1) revenue, 2) net income, 3) total assets and 4) net worth. But, when it comes to gauging short-term financial performance and creditworthiness, the trump card is cash flow. If a business doesn’t have …

Written by Kemper on Thursday December 5, 2019


Accelerate Depreciation Deductions with a Cost Segregation Study

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Is your business depreciating over a 30-year period the entire cost of constructing the building that houses your operation? If so, you should consider a cost segregation study. It may allow you to accelerate depreciation deductions on certain items, thereby reducing taxes and boosting cash flow. …

Written by Kemper on Tuesday December 3, 2019


Who Needs an Estate Plan? You Do!

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Despite what you might think, estate planning isn’t limited to only the rich and famous. In fact, your family is likely to benefit from a comprehensive plan that divides your wealth, protects your well-being and provides a compass for your family’s future. Dividing Your Wealth Estate …

Written by Kemper on Thursday November 28, 2019


Setting Up a Health Savings Account for Your Small Business

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Given the escalating cost of employee health care benefits, your business may be interested in providing some of these benefits through an employer-sponsored Health Savings Account (HSA). For eligible individuals, HSAs offer a tax-advantaged way to set aside funds (or have their employers do so) to …

Written by Kemper on Tuesday November 26, 2019


The Tax Impact of Selling Your Home

Image: 2019-11/tax-impact-selling-your-home.png The IRS allows you to exclude up to $250,000 of gain from the sale of your principal residence and up to $500,000 if you are married and filing a joint return. How do you determine how much gain you will have?

Written by Kemper on Monday November 25, 2019


Nonprofits: New Alternatives for Reporting Goodwill and Other Intangibles

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Did you know that the Financial Accounting Standards Board (FASB) recently extended the simplified private-company accounting alternatives to not-for-profit organizations? Many merging nonprofits, including educational institutions and hospitals, welcome these practical expedients. Here are the …

Written by Kemper on Thursday November 21, 2019


Control How Your Charitable Gifts Are Used by Adding Restrictions

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If philanthropy is an important part of your estate planning legacy, consider taking steps to ensure that your donations are used to fulfill your intended charitable purposes. Outright gifts can be risky, especially large donations that will benefit a charity over a long period of time. Even …

Written by Kemper on Thursday November 14, 2019