FINRA's BrokerCheck

Business Wisdom Blog

Wednesday, 04 December 2019

Every business owner needs an exit strategy

Written by Thomson Reuters

As a business owner, you have to keep your eye on your company’s income and expenses and applicable tax breaks. But you also must look out for your own financial future. And that includes creating an exit strategy. Buy-sell agreement When a business has more than one owner, a buy-sell agreement can be a powerful tool...

Wednesday, 04 December 2019

5 last-minute tax moves for your business

Written by Thomson Reuters

The days of the calendar year are vanishing quickly, but there still may be some last-minute strategies that business owners can use to lower their 2019 tax bills. Here are five to consider: Postpone invoices. If your business uses the cash method of accounting, and it would benefit from deferring income to next year, wait until early 2019 to send invoices. Accrual-basis businesses can defer recognition of certain advance payments for products to be delivered or services to be provided next year...

Friday, 29 November 2019

Black Friday and Cyber Monday: Full of Deals or Cybersecurity Steals?

Written by Jessica Dore, CISA

As published in Finance Monthly Jessica Dore leads Rehmann’s Technology Risk Management Group, overseeing cybersecurity assessments, information security assessments, vulnerability and penetration testing, social engineering testing and information security training. Below are her tips for businesses to stay safe during the biggest shopping spree of the season.   In 2018, consumers spent a record-breaking $6.22 billion while shopping on Black Friday...

Wednesday, 20 November 2019

Take This Quiz: The Social Security Retirement Earnings Test

Written by Forefield, Inc.

Can you work and receive Social Security retirement benefits at the same time? Yes, but the Social Security Administration (SSA) will apply an earnings test. Part or all of your monthly benefit may be withheld if you earn too much. To help avoid surprises, take this quiz to find out what you know — and don't know — about Social Security earnings test rules...

Wednesday, 20 November 2019

How to Give Like a Billionaire When You Don't Have Billions to Give

Written by Forefield, Inc.

Since Bill and Melinda Gates and Warren Buffett created the Giving Pledge in 2010, more than 200 of the world's wealthiest individuals and couples have committed to giving the majority of their wealth to philanthropic or charitable causes. Although the Giving Pledge only invites billionaires to join, "it is inspired by the example set by millions of people at all income levels who give generously — and often at great personal sacrifice — to make the world a better place."* You don't have to be a billionaire to embrace the spirit of the Giving Pledge: When people come together to give, regardless of wealth, they can improve the lives of others. Decide which causes matter most to you Giving Pledge billionaires are a diverse group, coming from 23 countries and ranging in age from their 30s to their 90s...

Thursday, 14 November 2019

Living the dream of early retirement

Written by Thomson Reuters

Many people dream of retiring early so they can pursue activities other than work, such as volunteering, traveling and pursuing their hobbies full-time. But making this dream a reality requires careful planning and diligent saving during the years leading up to the anticipated retirement date. It all starts with retirement savings accounts such as IRAs and 401(k)s. Among the best ways to retire early is to build up these accounts as quickly as possible by contributing the maximum amount allowed by law each year...

Wednesday, 06 November 2019

Cannabis Banking

Written by The Rehmann Team

Thirty-three states, the District of Columbia, Guam and Puerto Rico have legalized marijuana in some form while possession, distribution or sale of marijuana remains illegal under federal law. This means any contact with money that can be traced back to marijuana operations could potentially be considered money laundering and heighten exposure to legal, operational and regulatory risks. Nonetheless, legitimate cannabis businesses experienced a 62 percent year-over-year jump in banking options, with 715 banks and credit unions actively serving the industry. While these financial institutions have been mindful of following stringent procedures to identify and report “red flags,” most of the nearly 30,000 marijuana-related SARs filed between June 30, 2018, and June 30, 2019, were considered “routine...

Wednesday, 06 November 2019

Anticipated CECL Impact on Public Filers

Written by The Rehmann Team

The impact of CECL on anticipated loan loss allowances must now be reported in quarterly 10-Q SEC filings. Banks that are expecting the largest allowance increases have a more heavily weighted consumer portfolio because commercial loans typically have shorter expected lives whereas mortgages and consumer loans have longer terms. Moreover, the largest impact will likely be on retail portfolios heavily weighted with credit cards, which typically have larger estimated losses, especially portfolios with a concentration of lower credit quality. CECL will extend credit card estimated losses to a longer period of time, from the current year to two years...

Wednesday, 06 November 2019

LIBOR Phase Out: Looking to 2021 and Beyond

Written by The Rehmann Team

The London Interbank Offered Rate (LIBOR) is a global benchmark interest rate investors and banks use in credit agreements. It is calculated daily by a British regulator, using the average interest rate at which large, international banks around the world report they borrow unsecured funds from one another, and expressed in five different currencies. Since the mid-1980s, LIBOR has been used for nearly all commercial, consumer and mortgage loan products. The problem is that LIBOR is not set by the cost of funds that banks actually pay because the rates are collected through a self-reported survey of participating banks...

Wednesday, 06 November 2019

SEC Proposes Updates to Registrant Disclosures

Written by The Rehmann team

The SEC has proposed changes to Industry Guide 3, Statistical Disclosure by Bank Holding Companies. First published in 1976, the changes update required disclosures financial institution registrants provide to investors and eliminate disclosures that overlap with Commission rules, U.S. GAAP or IFRS...

Page 1 of 138

Meet The Rehmann Team

Start typing a name ...
Searching for "{{nameQuery}}"...
Start typing a experience ...
Searching for "{{experienceQuery}}"...
Start typing a location ...
Searching for "{{locationQuery}}"...
Or view a list of team members