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To our friends who are tax and estate planning professionals, I hope you're enjoying the summer -- and staying cool and healthy. Here is a list of articles that caught my eye recently. I hope you find them interesting and helpful to your practice as well.  To our friends who are tax and estate planning professionals: By now, you’ve read/heard of the horrific news that the IRS destroyed an estimated 30 million paper-filed information returns in March 2021 due to the backlog. Here is a set of a few other articles that I hope you find interesting and helpful to your practice.  If you're a business owner, your company is probably the most valuable asset you own. As such, growing and protecting the value of your business, and eventually monetizing such value, is enormously consequential to achieving your financial independence.  When small business owners want to step away from their business and retire, many may worry about the tax burden they’ll face from all their potential gains. Our professional colleague, Steve Parrish, Co-Director of the American College Center for Retirement Income, graciously gave us permission to post his article in Forbes that describes a tool called a deferred sales trust that may help to spread out gains over time and lower their tax burden.  To our friends who are tax and estate planning professionals, I hope you're off to a great start in 2022. Well, speaking of 2022, tax season is upon us, so I thought I'd share a few (hopefully) relevant and timely tax-related articles.  Several years ago, a friend and an owner of a professional practice asked me to help him run his firm like a "real business." As it turned out (and much to my surprise), I had the temperament and skills to think strategically, lead a team with fortitude, and relentlessly execute a plan with laser focus. I was a natural executive. My success in that role led me to a project with another firm, and then another, and so on. Thus began my life as an accidental executive and business consultant.  |
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