For years, people have questioned the viability of the Social Security system going forward. In July, the Social Security Board of Trustees released its annual report on the long-term financial status of the Social Security Trust Funds. What’s My FRA? Your full retirement age (FRA) depends on the year in which you were born. Year…

The process of submitting and approving expense reports for business travel can be an administrative hassle if your business reimburses employees for actual travel expenses. Fortunately, the IRS offers simplified alternatives that can save time and reduce recordkeeping. Per Diems vs. “High-Low” Rates Instead of reimbursing employees for their actual expenses for lodging, meals and…

Most business owners and attorneys know the basics of the business valuation process. For example, you might know that there are three approaches to value: the cost, market and income approaches. You might even know some of the methods that fall under these approaches, including the: Adjusted book value, Excess earnings, Guideline public company, Merger…