The CBD Blog

Find peer advice, partner insights, and industry updates – all here in the CBD blog, ‘At The Helm’! With contributions from our entire team, we blog about the things that interest you.

Did You Miss the 60-Day Deadline for Your IRA Rollover?

A new IRS procedure can save the day if you have a valid excuse for missing the 60-day rollover deadline for IRA distributions. Instead of going through the hassle and expense of applying for a hardship waiver from the IRS, you may be eligible to submit a written self-certification document. Here’s a list of valid excuses, as well as conditions for self-certification and background on the 60-day rule.

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Loan Applications: Put Your Best Foot Forward

Withdrawals from a line of credit and asset-based loans can help your business grow. But applying for bank credit can be time-consuming and nerve-wracking. Here are insights into your lender’s mindset, factors underwriters consider when making credit decisions and a list of documents to gather for your loan package. Following these best practices can help increase the chances that your loan application will be approved.

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Are You Ready for the New Overtime Rules?

In May, the U.S. Department of Labor released a new final overtime rule, and it recently published additional guidance to flesh out certain details. The new guidance, which goes into effect on December 1, 2016, is expected to significantly reduce cash flow in many industries, including retail, manufacturing and not-for-profits. Here are the highlights, including possible implementation strategies to consider.

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Are You Ready for the New Overtime Rules?

In May, the U.S. Department of Labor released a new final overtime rule, and it recently published additional guidance to flesh out certain details. The new guidance, which goes into effect on December 1, 2016, is expected to significantly reduce cash flow in many industries, including retail, manufacturing and not-for-profits. Here are the highlights, including possible implementation strategies to consider.

Read on CBD Spotlight >

It’s Time to Review Your Financial Planning Options

As the summer winds down, consider revising your financial planning strategies based on changes in your personal circumstances, market conditions and tax laws. If you procrastinate, financial planning is likely to fall by the wayside during the hectic holiday season, possibly causing you to lose out on tax-saving and wealth-building opportunities. Here are some retirement and estate planning considerations that may be worthwhile for certain taxpayers.

Read on CBD Spotlight >

It’s Time to Review Your Financial Planning Options

As the summer winds down, consider revising your financial planning strategies based on changes in your personal circumstances, market conditions and tax laws. If you procrastinate, financial planning is likely to fall by the wayside during the hectic holiday season, possibly causing you to lose out on tax-saving and wealth-building opportunities. Here are some retirement and estate planning considerations that may be worthwhile for certain taxpayers.

Read on CBD Spotlight >

Tax-Savvy Planning Strategies for Inherited IRAs

Did you recently inherit an IRA along with one or more additional beneficiaries? The rules regarding required minimum distributions (RMDs) may not necessarily be optimal for the younger beneficiaries when there are multiple beneficiaries or the inherited IRA lists a charity (or other nonhuman) as a beneficiary. Creative planning can save the day, but there’s a hitch: The strategies must be employed by no later than September 30, 2016, for account owners who died in 2015.

Read on CBD Spotlight >

Tax-Savvy Planning Strategies for Inherited IRAs

Did you recently inherit an IRA along with one or more additional beneficiaries? The rules regarding required minimum distributions (RMDs) may not necessarily be optimal for the younger beneficiaries when there are multiple beneficiaries or the inherited IRA lists a charity (or other nonhuman) as a beneficiary. Creative planning can save the day, but there’s a hitch: The strategies must be employed by no later than September 30, 2016, for account owners who died in 2015.

Read on CBD Spotlight >

Back-to-School Tips for Grownups

From a business perspective, back-to-school time is about more than selling school supplies and clothing. It provides many creative marketing opportunities for owners of all types of businesses who can think outside the pencil box. On a personal level, remember to save your receipts. Whether you’re a teacher or parent, this article provides a refresher course on education-related federal tax breaks for individuals, too.

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Back-to-School Tips for Grownups

From a business perspective, back-to-school time is about more than selling school supplies and clothing. It provides many creative marketing opportunities for owners of all types of businesses who can think outside the pencil box. On a personal level, remember to save your receipts. Whether you’re a teacher or parent, this article provides a refresher course on education-related federal tax breaks for individuals, too.

Read on CBD Spotlight >

Compare and Contrast the Republican and Democratic Tax Platforms

Federal taxes are a hot button during every presidential election. Do you know where the candidates stand on major federal tax issues, such as tax rates for individuals, businesses and estates? In some cases, the candidates’ plans contrast with their parties’ platforms, so it’s important to watch their statements and websites closely. Here’s some information on federal tax positions to help you make an informed decision in November.

Read on CBD Spotlight >

Compare and Contrast the Republican and Democratic Tax Platforms

Federal taxes are a hot button during every presidential election. Do you know where the candidates stand on major federal tax issues, such as tax rates for individuals, businesses and estates? In some cases, the candidates’ plans contrast with their parties’ platforms, so it’s important to watch their statements and websites closely. Here’s some information on federal tax positions to help you make an informed decision in November.

Read on CBD Spotlight >

7 Tax-Savvy Ways to Give to Charity

Charitable giving isn’t just good for society and your karma it can also lower your tax bill, if you follow federal tax rules and keep detailed records. When the philanthropic mood strikes you, think beyond cash and online donations. Here, we provide several creative alternatives for sharing your good fortune with your favorite charity, as well as advice on how to receive a “gift” of your own from the IRS.

Read on CBD Spotlight >

7 Tax-Savvy Ways to Give to Charity

Charitable giving isn’t just good for society and your karma it can also lower your tax bill, if you follow federal tax rules and keep detailed records. When the philanthropic mood strikes you, think beyond cash and online donations. Here, we provide several creative alternatives for sharing your good fortune with your favorite charity, as well as advice on how to receive a “gift” of your own from the IRS.

Read on CBD Spotlight >

3 Taxes People Love to Hate

Nobody likes paying money to the IRS, but some federal tax levies are harder for people to swallow than others. Which tax assessment is your least favorite? See how your preferences compare to our informal survey of most-hated taxes. With advance planning, you may be able to minimize or even eliminate these tax issues.

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FAQs about Social Security Retirement Benefits

Applying for Social Security retirement benefits is a rite of passage. But many seniors are uncertain about their options, including when to start collecting benefits, how to apply, who qualifies for survivors benefits and whether benefits will be subject to income tax. Here are the answers to some common questions, along with insight into the long-term viability of the Social Security system.

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FAQs about Social Security Retirement Benefits

Applying for Social Security retirement benefits is a rite of passage. But many seniors are uncertain about their options, including when to start collecting benefits, how to apply, who qualifies for survivors benefits and whether benefits will be subject to income tax. Here are the answers to some common questions, along with insight into the long-term viability of the Social Security system.

Read on CBD Spotlight >

New IRS Guidance for Designated Roth Accounts

The IRS recently published amended final regulations that will allow designated Roth account owners to tailor the tax results from their distributions. This gives owners of the accounts greater flexibility in personal tax planning. Here are the details, including an example of how the new guidance can lower taxes on distributions from designated Roth accounts.

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New IRS Guidance for Designated Roth Accounts

The IRS recently published amended final regulations that will allow designated Roth account owners to tailor the tax results from their distributions. This gives owners of the accounts greater flexibility in personal tax planning. Here are the details, including an example of how the new guidance can lower taxes on distributions from designated Roth accounts.

Read on CBD Spotlight >

The Financial Rewards of Buying a Condo for Your Kid’s College Housing

If you have a kid in college, living expenses can be significant. One way to save money is to invest in an on-campus condominium for him or her and any roommates to reside in. As an added bonus, you may be able to sell the condo for a gain after graduation. Here are the details on the federal tax rules on rental properties for college kids and advice on how to avoid potential pitfalls.

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