Articles From Lumsden McCormick
Posted by Bryan Staniszewski on September 12, 2019
If you or a loved one needs long-term care, consider purchasing a long-term care (LTC) insurance policy. As a bonus, qualified LTC policies may deliver some tax breaks.
Posted by Michael Grimaldi on September 10, 2019
The FASB issued a proposed Accounting Standards Update (ASU) to extend the deadline to implement FASB standards on current expected credit losses (CECL), leases and hedging that are not yet effective for private companies, not-for-profit organizations, and certain smaller public companies.
Posted by Jeffrey Budzinski on September 03, 2019
Do you have a loved one — perhaps an elderly father or mother — who may soon need extended nursing care? Moving a relative into a long-term care facility can be a costly proposition, but there's more to consider than just the price tag.
Posted by Bryan Staniszewski on August 29, 2019
Most private-sector employers put you in the driver's seat when it comes to saving for retirement. You might prefer the flexibility of rolling over your accumulated retirement savings into an IRA. This choice assumes, however, that your next employer's 401(k) plan allows you to move money into it from another 401(k) plan.
Posted by Thomas Burns on August 27, 2019
Plan sponsors are ultimately responsible for plan administration and operation and should know what to expect if they are selected for a Department of Labor audit.
Final Regulations Remove Two-Year Deferral of Advance Payments for Inventoriable Goods Under Section 1.451-5
Posted by Brian Kern on August 22, 2019
On July 11, 2019, the IRS and Treasury released final regulations removing Section 1.451-5 of the Income Tax Regulations as a result of the changes made to Section 451 under the 2017 tax reform known as the Tax Cuts and Jobs Act (TCJA).