Les Smeach
Extra Retirement Income From a Past Divorce
Times are tough out there and here is some advice that you may have forgotten about or didn’t know. A person can collect Social Security benefits based on his/her own earnings history, or 50% of his/her former spouse’s benefit if it is greater than his/her own, or 100% if the former spouse is deceased. In [...]
FLASH! REBATE, REBATE, REBATE, TAX DEDUCTION TOO!!!
Exciting news about First Energy’s rebate incentive program that affects businesses all over Northeast Ohio who receive their power from Ohio Edison or The Illuminating Company. Although the program has been around since Spring of 2011 and has been reduced, because of the response it still is attractive. T5 and T8 lighting technology, which have [...]
Year-End Tax Planning Thoughts
Year-end tax planning is especially challenging this year because of uncertainty over whether Congress will enact sweeping tax reform that could have a major impact in 2012 and beyond. And even if there's no major tax legislation in the immediate future, Congress still will have to grapple next year with a host of thorny issues, [...]
Estate and Retirement Planning for the Family Business Owner(s)
Advisers to family businesses in times of low interest rates are using a not-so-new way of transferring wealth and providing for retirement cash flow. It is called “sale to a grantor trust,” and it takes advantage of a limited time offer: under current IRS rules, the federal exemption for gift tax is $5 million through [...]
The Statement That Tells All – The Cash Flow Statement
In a set of financial statements, the one that lends credibility to the others is the Cash Flow Statement. Management, lenders, stockholders, potential investors, and valuators use this statement to assess the financial health of a business, whether the organization is for profit or a not-for-profit. The statement reports three primary activities: Operating Investing Financing [...]
