10 Cybersecurity Trends of 2018 and Key Recommendations for 2019

  |  December 4, 2018

Cyberattacks are increasing in sophistication and magnitude of impact across all industries globally. According to a recent report issued by the U.S. Security Exchange Commission (SEC) the average cost of a data breach is $7.5 Million and is continually increasing in value year over year.

While all organizations are potential targets of cyberattacks, the industries which possess the most valuable data are the biggest targets including: financial services, healthcare, government, automotive, manufacturing, and retail. All organizations possess valuable information assets, which may include intellectual property, financial payment information, client information, supply chain partners’ information, personally identifiable information (PII), protected health information (PHI), and/or payment card information (PCI). Read more. Read More

AZ Department of Revenue to Require Electronic TPT Filing and Paying in 2019

  |  December 3, 2018

In 2019, the Arizona Department of Revenue (ADOR) will be taking another step in its ongoing drive to provide enhanced customer service through electronic filing and paying.

E-filing and paying is more secure and faster for taxpayers and critical for ADOR to deliver a more results-driven, customer-focused management system that produces enhanced services for Arizonans. Increasing electronic payments frees up additional ADOR resources to process tax returns and payments of all types much faster. It also further strengthens tax fraud prevention measures and enhances the taxpayer experience.

Most importantly for taxpayers, electronic filing and paying saves money. Read more. Read More

IRS Clarifies Rules for Business Meal Deductions

  |  November 15, 2018

The Tax Cuts and Jobs Act of 2017 eliminated the deduction for business entertainment expenses. What wasn’t as clear was the fate of business meal deductions associated with that entertainment. Now, in Notice 2018-76, the IRS has weighed in with guidance that preserves business deductions for meals incurred in connection with entertainment activities—as long as the meals meet certain requirements. Read more. Read More

Capital Conversations (Fall 2018) – Investing Doesn’t Stop When You Retire

  |  November 5, 2018

Once upon a time, in a galaxy far, far away, people (mainly men) worked for one company their entire professional career, saved for their retirement, retired at age 65, received a gold watch and a pension, and then did not live very long after that. Does that sound familiar to you? It was certainly the story for my father and both of my grandfathers.

Oh, how times have changed. Read more. Read More

Market View (October 2018) – Volatility: Déjà vu All Over Again

  |  October 12, 2018

In the first two week of October 2018, we have seen a fairly rapid decline in market values. At the time of this writing, the S&P 500 has declined about 6.2% during the month of October with developed international equities performing in a similar fashion and emerging market equities performing worse. Ostensibly, it is valuations, rising interest rates and trade tariffs that are to blame. We added “déjà vu all over again” to the title, because we were in a similar situation as our February 2018 newsletter. Read more. Read More

Does the South Dakota v. Wayfair Decision Mean Economic Opportunities for Tribes?

  |  October 9, 2018

In its decision on South Dakota v. Wayfair on June 21, 2018, the U.S. Supreme Court overturned a 1992 precedent that excused out-of-state retailers from collecting and remitting state sales tax when selling products to residents of a state. The seller was only required to collect sales tax if they had a physical presence such as a brick-and-mortar store or an employee within the buyer’s state legal boundaries.

With the recent ruling, physical presence is no longer required for a state to impose a sales tax on sellers, and states stand to collect potentially billions of dollars in sales taxes from remote sellers. While states aim to maximize a potential windfall of new tax revenue, tribes should be exploring the impact on their sales tax collection. Read more. Read More

Planning Matters (September 2018) – Risk Management and Retirement Planning

  |  September 26, 2018

Last quarter, this newsletter focused on the Retirement Planning section of REDW Stanley’s Wealth Management map. We looked at the inter-relationships between various aspects of financial planning and how retirement planning can span decades and often dominate other planning goals.

At the bottom of the diagram are three additional sections we refer to as the lenses through which we view the decisions that are made in the main planning areas. Because we at REDW Stanley are fiduciaries, we must first act in our client’s best interest. Then we measure and account for the tax impact of planning decisions, and finally, we factor in how those decisions affect risk.

When risk is considered, the following are possible responses... Read more. Read More

Social Security Parity for Tribes

  |  September 24, 2018

On September 6, the Senate passed H.R. 6124, the Tribal Social Security Fairness Act of 2018. The bill, which amends Title II of the Social Security Act, was passed by both the House and Senate by unanimous consent in identical form. It was presented to the President on September 12 and signed into law on September 20.

Currently, tribal council members are not allowed to pay into the Social Security program, but state and local government officials are. The Act corrects this by allowing tribal governments to opt in to agreements that provide Social Security coverage (including Old Age, Survivors, and Disability Insurance benefits) to council members. Read more. Read More