Overtime Regulations Injunction is Temporary – Not Permanent

  |  December 1, 2016

Employers take note: The preliminary injunction granted on Nov. 22, 2016 by a Federal District Court in Texas is only temporary – not a permanent ruling. The injunction, which blocks the U.S. Department of Labor from implementing and enforcing its recently revised regulations on white collar exemptions to the Fair Labor Standards Act (FLSA), simply prevents the regulations from taking effect on Dec. 1. Read more. Read More

An End … and a Beginning

  |  November 30, 2016

As 2016 comes to a close and we look forward to 2017, it’s a good time to review those basic investing decisions that all investors must make to increase the likelihood of achieving their financial goals and objectives. The basics of investing are just that—basic tenets to follow that may result in accumulating assets that can help investors successfully attain whatever goal they have established, such as paying for a college education, taking the family on a vacation to celebrate a significant event, buying a first or second home, or funding a rewarding retirement. Read more. Read More

Market View (October 2016) – Eyes on the Fed

  |  October 13, 2016

Central banks around the world took the stage during the Third Quarter of 2016 with the U.S. Federal Reserve having prominence. As various Fed Governors gave speeches, each talk was dissected to see if the Federal Reserve would raise rates in September. Ultimately, they did not, but since they did not change their language for another increase in rates this year, the expectation is that they will raise rates in December. Read more. Read More

Reverse Mortgages Explained

  |  August 29, 2016

Watching a television commercial where a familiar personality talks about reverse mortgages may generate both interest and questions about that financial tool. Those television spots highlight the benefits of reverse mortgages as an attractive option for generating cash for senior homeowners and allowing those homeowners to stay in their homes. While receiving cash to supplement income and staying in one’s home are goals most anyone would love to attain, research and due diligence should be performed to determine if a reverse mortgage is an option for those who qualify. Read more. Read More

Proposed Regulations May Limit Valuation Discounts for Estate and Gift Transfers

  |  August 28, 2016

In our Summer 2015 Valuation & Forensics newsletter, we reported that "Valuation Discounts on Certain Transfers May Soon Be Limited," and one year later, it appears this may finally come to pass. In early August 2016, the IRS proposed new regulations that are designed to limit valuation discounts in intra-family transfers of ownership interests in corporations, partnerships, limited liability companies and family limited partnerships. Read more. Read More

Market View (July 2016) – Navigating the Brexit

  |  July 6, 2016

So what happened during the second quarter 2016? Well, the elephant in the room was the United Kingdom’s (UK) referendum to leave the European Union (EU), also known as the Brexit. The referendum was set by British Prime Minister David Cameron to appease a national populist movement concerned by fears that the UK was losing its national sovereignty to the European Union. 

Global equity markets declined sharply on the news. Media experts opined that the vote would spark a chain reaction of adverse events that would lead to the eventual breakup of the European Union. However, two days after the vote, cooler heads prevailed and equity markets started to recover from their initial reaction. How the vote will ultimately affect European, British, and Global markets remains to be seen, as events are very much in a state of flux and new nuances of the Brexit seem to appear daily. Read more. Read More

New Overtime Rule: 5 Steps for Tribes to Get Ready

  |  June 16, 2016

The Department of Labor has finalized a rule that raises the salary threshold at which eligible workers qualify for overtime from $23,660 to $47,476 a year. Set to become effective on Dec. 1, 2016, the new threshold also will automatically increase every three years based on wage growth over time. With plenty of time to prepare, Tribes should consider five steps to be ready for the added salary expense. Read more. Read More

On Annual Filing Dates and Fraud

  |  May 31, 2016

Tax season often ushers in the appearance of those who want to separate you from your personal financial information for their gain—and your loss. Others need no help in implementing strategies to either reduce their tax bite or obtain tax breaks they do not deserve.

The IRS Criminal Investigation Division works with the Department of Justice to ferret out those fraudsters and prosecute them. Each year the IRS publishes a list of common frauds that taxpayers may encounter anytime, but which may be especially visible during tax season. Read more. Read More

Attention Arizona Taxpayers: Increased State Tax Credits Help You to Do Good

  |  May 23, 2016

Arizona taxpayers now have five different state tax credit options that allow taxpayer’s charitable contributions to qualify for a dollar-for-dollar reduction of their Arizona income tax liability. These donations also qualify for a federal charitable deduction. What’s more, taxpayers can direct each of their tax credits to a specific charitable organization.

Arizona’s 2016 legislative session saw a change to a number of Arizona’s tax credits with some increasing or separating from other credits. Read more. Read More