Why All Businesses Should Consider ESG and Sustainability Reporting

The SEC aims to issue new regulations around environmental, social, and governance (ESG) and sustainability reporting in October, likely with an effective date of 2024/2025. Will your business be ready? This article reviews why ESG reporting is growing, common metrics for your business to begin tracking, and how your business can prepare for the shift.

Your Estate Plan: Don't Forget About Income Tax Planning

As a result of the current estate tax exemption amount ($12.92 million in 2023), many people are no longer concerned with federal estate tax. This article points out that before 2011, a much smaller dollar amount resulted in many people attempting to avoid estate tax. Now, because many estates won’t be subject to estate tax, more planning can be devoted to saving income taxes for heirs. A sidebar briefly looks at certain exclusions or discounts.

Weighing the Pros and Cons of LTC Insurance

The COVID-19 pandemic and its aftermath have significantly affected our lives in many ways that are still playing out. For example, the pandemic has served as a reminder of how difficult an unexpected medical crisis may be to manage financially. This article explores the pros and cons of one potential safeguard against such risk: long-term care insurance.

A Possible Tax Quirk of Being a Business Partner

Business partnerships may include situations that give the partners pause. This article explains that in any given year, the partners may have been taxed on more partnership income than was distributed to them. It notes that the cause of this quirk of taxation lies in the way partnerships and partners are taxed.

Compiling a Marital Balance Sheet in Divorce

Divorce is a difficult process for everyone involved. That’s why being clear and organized when it comes to finances can help facilitate the process. Generally, the first step is to compile a marital balance sheet. This brief article discusses this step and what it involves.

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About Dannible & McKee, LLP

Dannible & McKee, LLP has been providing audit, tax, accounting and financial management consulting services to clients nationwide since 1978. Throughout this forty-plus years' history, we have been wholly dedicated to the success of our clients. Every aspect of our business has been guided by our values and our commitment to putting each client's interests first. In a complex profession, we have found our greatest rewards in the simplicity of helping good people prosper. Delivering confidence in every financial decision is our goal for our clients, and it's also the most significant way we can contribute to their long-term success.

OFFICE LOCATIONS:

DM Financial Plaza, 221 South Warren Street, Syracuse, NY 13202

213 North Street #1, Auburn, NY 13021

200 Harborside Drive, Suite 201, Schenectady, NY 12305

220 Stage Road, Vestal, NY 13850

To learn more about Dannible & McKee, visit us at: www.dmcpas.com.