Latest posts
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2022 tax calendar
To help you make sure you don’t miss any important 2022 deadlines, we’ve provided this summary of when various tax-related forms, payments and other actions are due. Please review the calendar and let us know if you have any questions about the deadlines or would like assistance in meeting them. © 2022
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Educate your children on wealth management
If you’ve worked a lifetime to build a large estate, you undoubtedly would like to leave a lasting legacy to your children and future generations. Educating your children about saving, investing and other money management skills can help keep your legacy alive. Teaching techniques There’s no one right way to teach your children about money.…
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Does your trust need protection?
Designing an estate plan can be a delicate balancing act. On the one hand, you want to preserve as much wealth as possible for your family by protecting it from estate taxes and creditors’ claims. On the other hand, you want to have some control over your assets during your life. Unfortunately, these two goals…
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Using B2B media to lengthen your marketing reach
Companies that sell products or services primarily to other businesses face a tough challenge when it comes to marketing. Your customers are likely well-versed and experienced in what they do, so you must not only persuade them to buy from you, but also communicate that you’re an expert in your industry or field. If you…
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Let your financial statements guide you to optimal business decisions
Now that 2022 is up and running, business owners can expect to face a few challenges and tough choices as the year rolls along. No matter how busy things get, don’t forget about an easily accessible and highly informative resource that’s probably just a few clicks away: your financial statements. Assuming you follow U.S. Generally…
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Preparations vs. compilations
Your business needs financial statements so management can monitor performance, attract investment capital and borrow money from a bank or other lender. But not all financial statements are created equal. Audited statements are considered the “gold standard” in financial reporting. While public companies are required to issue audited statements, smaller, privately held organizations have options.…
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The ABCs of activity-based costing
Revenue and expenses, as reported on your company’s income statement, have limited usefulness to people inside the organization. Managers often need information presented in a different format in order to make operational and strategic decisions. That’s where activity-based costing comes into play. This costing system is commonly used in the manufacturing and construction sectors to…
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Cheers! 55 Cookies to Celebrate 55 Years In Business
This year marks the 55th year that SFW Partners has been in business. That’s a big milestone so we want to celebrate it every opportunity we get. So we asked our client – McArthur’s Bakery – to create some tasty treats we could pass out to our staff. Happy 55th anniversary to us! #cheersto55years, #cookies,…
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Have you named contingent beneficiaries?
Although your will or revocable trust governs the distribution of many or most of your assets, certain assets — such as retirement plans, insurance policies, and bank or brokerage accounts — require you to name a beneficiary (or beneficiaries). This can be an advantage, because when you die, the funds can pass directly to your…
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Making funeral arrangements in advance can ease family turmoil after your death
It’s difficult for many people to think about their mortality, so it’s not surprising to learn that many put off planning their own funerals. Unfortunately, this lack of planning may result in emotional turmoil for surviving family members when someone dies unexpectedly. Also, a death in the family may cause unintended financial consequences. Why not…
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With proper planning, a charitable remainder trust can replicate a “stretch” IRA
The “stretch” IRA generally no longer exists. But if you have a substantial balance in a traditional IRA, a properly designed charitable remainder trust (CRT) can allow you to replicate many of its benefits. SECURE Act’s effects on stretch IRAs For years, a stretch IRA was an effective tool that allowed your children or other…
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Avoiding undue influence claims
A primary purpose of estate planning is to ensure that your wealth is distributed according to your wishes after you die. But if a family member challenges the plan, that purpose may be defeated. If the challenge is successful, a judge will decide who’ll inherit your property. Will contests and similar challenges often occur when…