FASB Issues ASU in Reaction to the Impact of Tax Reform
The FASB has issued an Accounting Standards Update (ASU) that addresses the concerns raised during its Board meeting in January regarding “reclassification of certain tax effects stranded in accumulated other comprehensive income” due to the impact of The Act. What can be found in ASU-2018-02? Who does the ASU impact? This article provides insight into these questions and more…
Last Chance: Take the 2018 Greater Miami Executive Survey
MBAF, in collaboration with the Greater Miami Chamber of Commerce, is conducting our annual Greater Miami Executive Survey. We want your feedback about the Greater Miami business environment. If you’re a Miami business owner or executive, please take our survey and be entered into a raffle to win an Apple Watch Series 3!
MBAF Named South Florida’s Top Minority Owned Business
MBAF is extremely proud to be named South Florida’s Top Minority Owned Business as part of South Florida Business Journal’s Business of the Year Awards.
Tax Law Will Change Divorce Tactics
The tax rules regarding alimony were dramatically changed by the Tax Cuts and Jobs Act of 2017, but existing agreements have been grandfathered. In addition, the old rules remain in effect for divorce and separation agreements executed during 2018. Next year, the rules will change, and the roles will be reversed.
Stretching for Yield…Carefully
Typically, bond funds with low yields have relatively low risk. That doesn’t mean that these funds are riskless, though. With interest rates expected to rise this year, all types of bond values could drop, leading to an overall pullback in the prices of bond fund shares. One way to respond to this unwelcome outlook is to diversify your fixed income holdings.
Have You Missed the 60-day IRA Rollover Deadline?
IRAs and employer-sponsored plans are powerful retirement savings tools, but they also provide valuable estate planning benefits. If you hold a traditional IRA for life, your children or other heirs can stretch out distributions over their lifetimes. However, if you receive a distribution from an employer plan and you don’t roll over the funds into an IRA or new plan within 60 days, you can lose these benefits.
A Total Return Unitrust can Help Maintain Family Harmony
A traditional trust can sometimes create a conflict between the lifetime and remainder beneficiaries. For example, investment strategies that provide growth that benefits remainder beneficiaries can leave lifetime beneficiaries with little or no annual payouts. This makes it more difficult for your estate plan to achieve your objectives and places your trustee in a difficult position. However, a total return unitrust (TRU) may offer a solution.