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The United States has been the world’s undisputed economic superpower for more than a hundred years. Yet in the long arc of history, that dominance has been relatively brief. For thousands of years, China stood as the world’s economic leader and a true global power. For that reason, many Chinese believe that the United States’ eco...

There has been a lot of speculation and confusion about the impacts of the most recent tax reform, with many asking if they have to pay more taxes. Unfortunately, the answer is, “it depends.” With this in mind, the tax impact is demonstrated by looking at potentially real scenarios for five different types of taxpayers: trust beneficiar...

More than half of the time, cyber criminals’ search leads them directly to small and midsize enterprises (SMEs), who can be hacked with ease and offer a substantial cumulative payoff—in the form ransom money, stolen credit card numbers, or bank account information. Although stopping cyber criminals from accessing SME funds and data may ...

Cyber risk has become a major potential loss exposure for almost any company. As with any other exposure, directors should confirm that reasonable steps are taken to identify, mitigate, respond to, and recover from third parties relating to cyber-related problems when they arise. However, because of the potentially severe nature of this risk, the d...

A business owner may feel both excitement and concern at the prospect of selling a business. As a liquidity event approaches, there are five questions that should be considered before the sale: What are the terms of the transaction? Could my philanthropic goals be addressed? Will the sale of the business affect my estate planning? What do I want an...

Flying privately has become increasingly popular for a variety of reasons, including convenience, security, and lifestyle, but there are several considerations in determining what usage and ownership structure is right for you. Like making a real estate investment, owning or leasing a plane poses many financial, tax, and regulatory issues, as well ...

Now that the new tax reform is in place, it’s time to consider the impact it may have on you and your family and determine what steps may be appropriate based on your specific financial goals and circumstances. While the key provisions contained in the new tax law presents nine planning opportunities—including the increased gift tax exe...

The new tax laws have answered many of the concerns and wishes of the business community—reducing corporate tax rates, providing business deductions, and fine tuning business-related sections of the tax code. They will likely create opportunities, along with some challenges, over the coming months and years which may require businesses to mak...

The question Virginia “Ginny” Esposito, Founder of the National Center for Family Philanthropy, gets asked the most, is “How can I engage my family in philanthropy?” In this episode, Ginny highlights what family business is and common trends in the work she has been in for over 30 years. She has lots of wisdom for parents an...

Families of wealth and business-owning families face security risks in their everyday lives, where personal and business risks are often blended and are typically managed by different people and processes. This creates a gap in identifying risks and solutions that can be addressed through a holistic and collaborative risk management approach. With ...

In today’s hyperconnected world, news headlines are filled with stories about identity exposure, data breaches and other major threats to your personal information and financial assets. This guide provides best practices, resources, and actionable advice to help you protect yourself or recover from a cyberattack.

Succession planning for a family business inevitably requires planning for the transition of the management team. This transition presents several challenges, including dealing with non-family managers and with a family member who is not suited for a leadership role in the business. These difficulties are not insurmountable, and, with clear communi...

Many employers and family offices find performance reviews can be a challenging task. But with a new take—one that turns a performance review into a career conversation—it can become an opportunity to establish a healthy dialogue that provides space to exchange feedback, assess performance, and “take the temperature” of the ...

With the passage of the Tax Cuts and Jobs Act in late 2017, virtually all areas of federal tax law saw sweeping changes. As a business owner, it’s particularly important to understand how these changes can work to your advantage as you consider your tax planning under today’s new laws. Five strategies—including restructuring your ...

Works of art are at great risk of being damaged during handling and transportation. To reduce the likelihood of loss, it is important to adhere to a stringent set of guidelines for every transit. Arrangements will differ in each situation, but following the recommended steps—including selecting a fine art specialty shipping company and reviewing yo...