Getting to know the basics of global tax treaties

Many people naturally associate the word “treaty” with “peace.” But the U.S. federal government has signed off on quite a few international tax treaties over the years, too. If a person, business or other entity engages in activities that may trigger international tax laws, it’s a good idea to have some familiarity with the nature of these treaties. …
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Prepare for major changes to the foreign tax credit

The IRS at the end of 2021 issued final regulations that significantly change long-standing principles for determining eligibility of a foreign tax for the foreign tax credit. Technical corrections were then published on July 27, 2022. The final regs apply to foreign taxes paid or accrued in tax years beginning on or after December 28, …
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Can You Swap Life Insurance for Long-Term Care Insurance?

  Do you own a life insurance policy that’s no longer essential to your financial goals? You may have purchased a policy long ago, when your children were infants or before their college years. Now that you’re no longer raising a family, your focus has probably changed to your own future needs, which could include some …
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Tips for selecting a long-term care facility

The need for long-term care assistance continues to grow. Roughly 5.8 million people in the United States used paid long-term care services in 2020, with about 1.9 million of those residing in long-term care facilities, according to the Congressional Budget Office. Seven out of 10 people will require some form of assisted living care during …
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How AI and machine learning help fight fraud

The biannual Association of Certified Fraud Examiners “Report to the Nations” has repeatedly concluded that the longer fraud schemes remain undetected, the greater the losses for the victimized organizations. According to the 2022 report, the average fraud lasts 12 months and leads to a median loss of $117,000. But schemes that last 25 to 36 months …
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6 ways to help prevent management fraud

In order to effectively run a company, senior managers are entrusted with tremendous power and authority. But what if they decide to use it to line their own pockets? Investigations of executive management can be highly contentious and fraught with difficulty. It is imperative that they are conducted with the utmost discretion by highly trained …
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Watch out for these 7 payroll fraud schemes

Payroll fraud is both an internal and external threat to companies. One of your employees, for example, could doctor time sheets to increase the number of hours worked — and thus inflate his or her paycheck. And a hacker halfway around the world could access your payroll records and steal personal information to commit identity theft. …
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12 ways to lessen employee legal risks and conflicts

Your business or organization can reduce tensions from and conflicts with employees… and help lessen the risks of employee-initiated legal actions by focusing on these 12 areas: Ensure managers and supervisors are qualified to coach and lead. Studies of the root causes of employee turnover and employee legal actions often trace those underlying causes to …
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Forecast Statements can Help Guide Your Business

Is your business ready to tackle the challenges and opportunities that lie ahead in 2023? Financial statements show how a company has performed in the past. But historical data doesn’t necessarily predict future performance, especially in an uncertain, volatile market. As part of your planning, it’s important for management to prepare forecast statements. Make Reasonable Assumptions …
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Why You Might Want a Psychiatric Advance Directive

All adults are encouraged to set up a health care power of attorney or advance directive, regardless of whether they have a formal estate plan. But if you’ve already established standard health care directives, you may want to add one more: a psychiatric advance directive (PAD). This document is worth considering if you have a history …
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