Articles From Lumsden McCormick
IRS Approves Spousal IRA Rollover Despite Existence of Trust
Posted by Robert Ingrasci on July 02, 2019
The IRS has privately ruled that a surviving spouse can roll over her deceased spouse's IRA — payable to a trust of which she is sole trustee and beneficiary — into her own IRA. Generally, where an IRA beneficiary is a trust, a surviving spouse is barred from treating a decedent's IRA as her own account.
Are You Harnessing the Power of Manufacturing Data?
Posted by Jonathan Roller on July 01, 2019
With the right technology tools, manufacturers can collect volumes of data, ranging from real-time information gleaned from machines and RFID readers on the plant floor to regular input from customer service and sales staff. But data also must be analyzed so it can be used to improve business processes, refine operational efficiency and transform existing business models.
Dynasty Trusts Are More Valuable than Ever
Posted by Cheryl A. Jankowski on June 28, 2019
The Tax Cuts and Jobs Act has brought great changes to estate planning. In doing so, it bolstered the potential value of dynasty trusts. This article explains why these trusts are well worth considering for tax purposes. We'll also look at valid nontax reasons for establishing one.
Road Map to Manufacturing 4.0
Posted by Brian Kern on June 27, 2019
- The manufacturing industry is at a pivotal point in its history. Recognizing the significance of this juncture, the Manufacturing Leadership (ML) Council recently released its Critical Issues Agenda for 2018/2019, titled The Journey to Manufacturing 4.0.
Beneficiaries Learn a Lesson About Paying Estate Taxes
Posted by D’Marie Murray on June 27, 2019
Beneficiaries of a South Dakota estate failed to make a payment when submitting a federal estate tax return — and again failed to pay when the IRS subsequently notified them of additional assessments. The IRS sued. In U.S. v. Ringling (2017), a district court reviewed the facts and ultimately granted the IRS's summary judgment motion.
The Perfect Manufacturing Storm: 7 Ways to Weather It
Posted by James Dunn Jr. on June 27, 2019
Everything from changes to foreign trade policies and new tariffs to military actions threaten to disrupt smooth operations in the manufacturing sector. Already, your company may be coping with the rising costs of raw materials and subsequent pushback from customers. This article suggests seven ways to weather the current climate.
Private Companies: Have you Implemented the New Revenue Recognition Standard?
Posted by Douglas Muth on June 27, 2019
It’s crunch time for private companies to implement the new revenue recognition standard. Here’s what you need to know, plus some valuable insight from public companies that went through the implementation process last year.
Nonprofit Heart, Business Mindset: The Business of Impact
Posted by Donna Gonser on June 26, 2019
Are the words “nonprofit” and “business” completely at odds?
Powering up the Connected Factory - 2019 MPI Internet of Things Study
Posted by Jonathan Roller on June 18, 2019
Manufacturers that build out their IoT strategy in the context of Industry 4.0 potential will ultimately be better equipped to compete in manufacturing’s digitized future.
BDO Nonprofit Standards Benchmarking Survey
Posted by Donna Gonser on June 17, 2019
Get a sense of what not-for-profit groups are thinking about, the key issues and industry trends from modes of operations to technology and gear up to make your greatest impact this year!