Strategy consulting is when businesspeople — generally executives, boards, or management bring in a third party to offer an outside, expert perspective on their business challenges. Strategy consultants usually have considerable industry knowledge and are expected to assess high-level business issues objectively. They take a holistic look at specific problems companies are dealing with and… Continue reading Business Strategy And Consulting
Business law encompasses all of the laws that dictate how to form and run a business. This includes all of the laws that govern how to start, buy, manage and close or sell any type of business. Business laws establish the rules that all businesses should follow. A savvy businessperson will be generally familiar with… Continue reading Business Law In Utah
Business succession planning is the process of deciding what will happen to your business when you no longer are able to or desire to run it. While many people think of business succession planning when they are nearing the end of their career, it is important to consider business succession when the business is first… Continue reading The Importance Of Succession Planning For Business Owners
When an executor or other fiduciary is compensated for their work, it is considered taxable income. As such, there are specific requirements related to reporting this income on his or her taxes. Tax Rules The income received as compensation as a fiduciary or executor goes under the heading “other income” on Line 21 on Form… Continue reading Reporting Executor Or Fiduciary Taxes
The executor of a will is responsible for sorting out or distributing the finances of an individual after the latter’s death. They serve as a legal personal representative and manage the estate of the deceased in accordance with the terms stated in the will. They ensure that the debts and taxes on the property are… Continue reading How Estate Executors Can Successfully Navigate Utah Probate Process
If you have close relatives, like parents, who are citizens and residents of a foreign country, there is a chance you might receive a gift or inheritance from them at some point in your life. You may wonder whether you will have to pay taxes on an inheritance you receive from a foreign relative. In… Continue reading Foreign Inheritance And Utah Tax Implications
