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| The Whitlock Company News Update
| July 7, 2010 |
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General Business Advice
Trends in Private Equity: Views & Insights for 2010
Private equity continues to evolve as an essential industry while the financial markets continue to recover from the resounding events of the past few years. A review of the current trends in private equity yields no earth-shattering revelations, yet they do reflect an industry in transition; an industry that is robust and ever-changing. This ability to transition with changing times is essential to its longevity. Read more... |
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Taxes
Brace Yourself for a Sea of Change in the Tax Law.
A number of tax law changes are making their way through Congress, and many more on the way. These changes will affect both individual and business taxpayers alike.
In 2010, it is expected that Congress will address the federal estate tax, and is currently working on small business and jobs "relief," as well as an extension of popular, but temporary tax incentives that expired at the end of 2009. This article provides a brief overview of what taxpayers can expect this year. Read more... |
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General Business Advice
Concerns About Risks Confronting Boards - A Board of Directors Survey
With heightened awareness of the need for corporate governance, American boardrooms are immersed in increasingly intense discussions about the issues of risk and compliance. With these new concerns, directors of public companies are under the microscope more so than ever before.
While financial risk remains paramount, all systemic risks lead to financial risk in one way or another. This survey explores not only financial risk, but the other important areas of risk being discussed in boardrooms, such as regulatory compliance and reputational risk, as well how boards gain insight on new topics of interest to their companies. Read more... |
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Taxes
FAQ: Can I Deduct the Cost Incurred Doing Charitable Work?
Q. I spend 20 hours every week cooking meals and delivering them to an organization that feeds the hungry and homeless. Am I entitled to a deduction for my time and the food I pay for out of my own money?
A. Generally, if you do volunteer work for a charity, you are not entitled to deduct the cost of services you perform for the charity. However, if in connection with the volunteer work you incur out-of-pocket expenses, you may be entitled to deduct some of those expenses. Read more... |
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Taxes
The IRS Initiates Project to Review 401(k) Plan Compliance
According to the IRS web site - 401(k) plans represent the largest retirement plan market segment and have a significant impact on the health of the private retirement system in America. A baseline study of 79 market segments, and the findings indicated that 401(k) plans are by far the most non-compliant plan type in the retirement plan universe.
In an effort to improve plan compliance the IRS is sending a questionnaire to 1,200 randomly selected 401(k) sponsors. The questionnaires were designed to assess compliance with retirement plan regulations. Read more... |
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| Media And Resources
The Media and Resources page on our website includes Whitlock Resources that provide links to:
Info Center-Includes tax event calendar, tax forms library and IRS Tax Publications library
Financial Tools-Includes various financial planning tools, calculators and spreadsheets
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| Spotlight on Exit Planning
Exit Planning is Good Business.
The sale or transfer of a privately held business is much more than a transaction. It is likely the most significant financial event of the owner's lifetime.
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About Us The Whitlock Company is a full-service CPA firm offering a range of professional tax, audit, accounting and managment advisory services to the following industries:Community Banking, Manufacturing and Distribution, Not-For-Profits, Higher Education and more. For more information, please contact us.
We appreciate your referrals. If you know of a company, organization or individual who may benefit from our services, please let us know. |
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