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Important IRS Update: Significant Interest Penalty Increase for Tax Underpayments
The Internal Revenue Service (IRS) has recently announced a critical change that could significantly impact taxpayers who underpay their taxes. This update is particularly relevant as we approach the next tax filing season. Previously, the IRS charged a 3% interest penalty on estimated tax underpayments. However, this rate has now been increased to a substantial
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Will Inflation Hurt Stock Returns? Not Necessarily
Investors may wonder whether stock returns will suffer if inflation keeps rising. Here’s some good news: Inflation isn’t necessarily bad news for stocks. A look at equity performance in the past three decades does not show any reliable connection between periods of high (or low) inflation and US stock returns. Since 1993, one-year returns on
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Maximize Your Charitable Impact with These Four Strategies
As the year draws to a close, it’s a perfect opportunity to rethink how you give to charity. This is important for managing how much tax you pay and how much help reaches those in need. Here are four effective strategies: Need Guidance? Reach Out to Us! These strategies are just a starting point. There
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Hotel Executive May Face Liability in Best Western Deaths
Damon Mallatere, president of Appalachian Hospitality Management, is in hot water after three hotel guests died of carbon monoxide poisoning. As a recent article explains, the business executive was recently indicted on charges of involuntary manslaughter.
Although investigators determined that the deaths were the result of several factors, Mallatere is the only person who has been charged. The deaths occurred when carbon monoxide from the hotel’s swimming pool rose out of a corroded exhaust pipe and into a hotel room. The first two deaths occurred in April and the third occurred in June.
Although it is uncommon for business executives to face criminal charges for injuries and deaths that occur on business property, this case should serve as a warning to all business men and women that accidents can happen, and they may be held responsible.
Competent performance is only the first line of defense against potential liability incurred through a business. Not only can competent performance reduce mistakes, but it lessens the likelihood that a businessperson will be held responsible for accidents. For those accidents that cannot be avoided or defended against, asset protection is a vital back-up plan. If individuals like Mallatere do not have asset protection plans in place, their personal property and belongings may be at risk.
