Keep Your Money in the Family with These Estate Planning Tips

This article explains why and how keeping money within the hands of the people you trust will help you in the future. Heirs could be responsible for “paying federal income taxes on either assets or retirement accounts, and if you plan poorly, your money could end up in the hands of an ex-spouse or creditor.” To prevent that tragedy, meeting with an estate attorney and an accountant could be very beneficial. To help keep your money where it belongs, think about drawing up a will, checking your beneficiaries, setting up a trust, converting traditional retirement accounts to Roth accounts, and gifting your money while you're alive. Setting up an estate plan can seem like tons of work, however, it is extremely important to look at it so that your family and friends receive the money you worked hard for. To learn more about the perk of estate planning, click the link.

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Keeping a Family Business Running Smoothly Generation after Generation

This article discusses three dysfunctions that are commonly seen throughout family businesses. Chris Yonker, the author of the article, says that following the steps of over-achievers can be a bad way to help ensure the family business continues to run properly. Often children are faced with the challenge of following the footsteps of their parents, even if they do not want to follow their steps. Parents that focus too much on their business instead of their children can “lead to detachment, guilt, and even substance abuse” for their child. Yonker also believes that taking away a child's opportunity to take personal responsibility for their actions can lead to problems in the future. Thirdly, Yonker states that children with a sense of entitlement are detrimental when expected to hold the company in their hands. To gain a sense of love and self-worth, “children need permission from their parents to be exactly who they are — not what anyone else expects them to be.” To learn more about how to properly hand down the family business, click the link.

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Receipt Signatures, Does Your Small Business Need Them?

This article discusses an important topic that all small business owners should consider as it occurs every single day. In the past, credit card transactions required a signature in order to help authenticate the purchase. However, with the development of EMV technology, most credit card companies have dropped this requirement, and large companies such as Walmart and Target applauded this decision. However, for small businesses, it is more important to ask some key questions in order to decide what is best for your business. The EMV process has proved efficient in detecting fraud, but that also requires your checkout system to have these technologies available. Be sure to check out this link for the full list of key questions and to help you decide what is best!

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Fast-Track Your Career Potential

RBG is looking for highly motivated students who are interested in a public accounting career at one of the Mid-South’s most reputable firms.

What is Accelerate Leadership?

Accelerate Leadership is a one-day virtual conference for select college students who have declared a major in accounting. Students who attend Accelerate Leadership will get to know Memphis and RBG through entertainment, education, and networking events. Participants will attend the program compliments of RBG.

When and where does Accelerate Leadership take place?

We plan for Accelerate Leadership to be held February 11-12, 2022, in Memphis, Tennessee. Should the conference need to be held virtually, we will let those attending the conference know, although the dates should stay the same.

What’s on the agenda?

Live: Participants will tour downtown Memphis attractions while getting to know some of our young professionals. That evening, students will have a chance to network with more of our professionals while enjoying dinner at one of our unique Memphis restaurants. The next day, the networking will continue with a breakfast mixer and panel discussions, and the day will conclude with an interview for one of our spring or summer internships. 

Virtual: Participants will interact with RBG's Young Professional Group through a variety of events allowing for networking, unique and informational sessions, and a Q&A. Participants will also get to hear from some of RBG's Partners and Managers. The conference will conclude with an internship interview for each participant.

Am I eligible?

Students are eligible to participate in Accelerate Leadership if they are a standing sophomore or beyond and have declared a major in accounting.

How do I apply?

To apply for the conference, please email careers@rbgcpa.com with your resume and an unofficial transcript. The deadline to apply is Friday, February 25, 2022.

Productivity Tips for Your Small Business

This article discusses both the importance of a good leader in any small business as well as the requirement that the business is productive. To help you decide what is important to understand, members of the Young Entrepreneur Council weigh in on what they believe are tips that all small businesses should be considering. For example, prioritizing responsibilities, automating and digitalizing tasks, having a clear-cut definition of success, and tracking business performance are all strategies that should be utilized on a day-to-day basis. No matter your industry, be sure to check out this link for more information and details!

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