Estate Plan & Taxes

"S" Corporation Changes

For years an "S" Corporation was not able to have a non-resident alien be a shareholder.  However the treasury department has issued a regulation to amend regulations to electing small business trusts (ESBTs) that are grantors.

Remember 911

Enjoy the Labor day weekend!

Project 150 Luncheon

Privacy

Imagine that you have just had a major health problem that put you into the hospital and you are incapacitated.  The hospital will only allow two contacts to have a information code to talk to the Doctors.  Who gets them?  How does the hospital know?  What can be done to make sure that the information code only goes to those whom you approve to get it?

The HIPPA Privacy Rule set national standards in which the medical field must follow to protect your privacy.  The HIPPA form is filled out to make sure that specific people you have authorized will be given the information.  In preparation for an emergency your HIPPA can be done when you do a Will or Estate Plan.  The Estate Plan encompasses the trust and state specific ancillary documents you will need such as the HIPPA form, statutory and durable powers of attorney and other documents necessary for the Estate Plan.  A Will should include the state specific ancillary documents which would also have the HIPPA form, statutory and durable powers of attorney and other documents.

The best way to make sure that you are covered is to have a knowledgeable attorney draft your Will or Estate Plan to make sure that the correct laws for the state in which you live are included in the documents.  You will have a choice as to who can get what information and who can be the representative on all of the documents.  Your rights are covered and you can take copies of the HIPPA and power of attorney to the people you have given the rights, so in an emergency they can take them to the hospital to prove your wishes.

When it comes to your health care and information make sure that you are taken care of and you privacy is covered.  Go speak to an attorney

What is Bookeeping ?

 ⇢Importance of Bookkeeping⇠

What is Bookkeeping?

noun - [boo k-kee-ping] The work or skill of keeping account books or systematic records of money transactions (distinguished from accounting). dictionary.com

 

Key Components of Bookkeeping: 

• Recording Financial Transactions
• Posting Debits and Credits 
• Producing Invoices

Bookkeeping Helps Keep a Clear Picture of Your Company's Financial Health!

- Is your business organized?

- Are you in control of your cash in & out?

- Are you making Money? $$$$$$

When bookkeeping is done correctly these questions will give you the answers you need. 

Bookkeeping makes problem solving easier!