H2R CPA Blog
Tax Reform Resource Center
by Leo A. Hannah, CPA, MBA
Succession planning is a critical endeavor for all family businesses. If not done properly, a leadership void and/or discord among family members can have a significant negative impact on company performance. Although it is a difficult subject, it is critical to adequately prepare for succession. Key considerations include:
In the end, the goal is for multiple generations to talk openly, get everyone on the same page, keep the family together and continue a successful business. Contact H2R CPA at 412-391-2920 or firstname.lastname@example.org to learn more about how we work with our clients on succession planning.
by H2R CPA Team
US taxpayers, both citizens and residents, are often surprised to learn that they need to pay taxes on all income earned whether generated in the US or abroad. This includes income that is earned while working overseas as an employee, independent contractor or from supplementary income sources such as investments, pensions or other such accounts.
While paying taxes on income earned outside the US may seem unusual, it’s a reality that all taxpayers must comply with. The good news is that qualifying taxpayers living abroad can leverage the Foreign Earned Income Exclusion, which allows for a complete or partial exclusion of foreign income from taxes. To help you understand the exclusion and how it can benefit your situation, H2R CPA has provided a summary below.
by Edward G. Scherer, CPA
Serving as a member of a nonprofit board is an honorable way to contribute to a cause that is important to you and give back to your community. However, many people do not realize that a board position comes with fiduciary responsibilities, including the following:
While it is not necessary for every board member to be a financial expert, nonprofit board members are entrusted with many important tasks related to nonprofit governance. Contact H2R CPA at 412-391-2920 or email@example.com for additional guidance.
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