Month: May 2014

Are you an executor for an estate?

Are you an executor for an estate created in 2011, 2012, or 2013? Then you may benefit from a procedure that extends the due date for making a portability election on an original estate return. Here’s what you need to…

Do you understand the benefits of cash flow statements?

Most businesses prepare three primary financial statements — the balance sheet, income (profit and loss) statement, and statement of cash flows. It’s the third of these statements that often provides the most insight into day-to-day operations. Why? The cash flow…

How to ruin your credit score

Warren Buffet once said, “It takes 20 years to build a reputation and five minutes to ruin it.” The same could be said of good credit. It isn’t built overnight or by accident. Most Americans with stellar credit scores have…

Recent court ruling affects IRA rollovers

Sometimes the things you think you know can lead to trouble. That’s especially true when what you think you know turns out to be wrong. For example, when taking distributions from your IRA, being wrong about the rules can lead…