Back to Business Before Year End

by | November 7, 2012

This week’s blog from Michelle Bomberger

Despite the beauty of fall and the bustle of the Holidays, be sure to get the work done to end 2012 strong. There are many issues that you should discuss and formalize in your business to properly account for 2012 and plan for your 2013 year such as:

  • Gifting maximums set to revert back January 1, 2013. If you have assets greater than $1M, you should consult with Equinox to determine whether you should consider the tax savings associated with gifting certain assets prior to 2012 year end.
  • If you have not reviewed your succession and estate plan this year, now is the time.
  • Preparations for Healthcare Reform and setting up the needed tax structures prior to Jan. 1, 2013. Equinox can help you determine what requirements you need to follow.
  • Updating employee policies regarding the new Seattle Sick and Safe Leave Ordinance which took effect Sept. 1 and the new legalization of marijuana and same-sex marriage laws. Equinox can help craft policies that incorporate the new laws to ensure your business is in compliance.