A qualified retirement plan can be beneficial to employers and employees alike, yet for a small business owner who is busy with daily operations, the time and effort involved in choosing a plan can seem daunting. It does not have to be.
2013 brings new tax regulations, including a new Medicare surtax for taxpayers who have net investment income and whose modified adjusted gross income exceeds a certain threshold. Some year-end planning can alleviate future tax pain – which is an excellent holiday present to yourself.
Workers In Multi-Employer Health Plans Ineligible For Tax Credits. Union workers who are covered by multi-employer health plans will not qualify for federal tax credits to defray their premium costs under the Affordable Care Act. Workers in the construction trades, who often move from employer to employer as projects are completed, frequently are insured under multi-employer plans that are negotiated with their unions. The workers do not pay income taxes […]
Is it better for a worker to take a position as an independent contractor or a regular employee? Why might an employer choose one over the other?
If you make a short film that includes someone singing “Happy Birthday to You,” until recently you could expect to pay a hefty licensing fee to Warner Music Group – or a heftier fine, if you used it without permission.
“Begin with the end in mind” is good advice in most cases, but it is commonly frowned upon in marriages. Despite the stigma, a premarital agreement can mitigate the damage from a divorce or a spouse’s premature death. At its core, financial planning is about planning for the expected case, but also being well prepared for unlikely and unanticipated events. No one gets into a car expecting to crash, and […]
Summer has arrived, and for many families, that means getting away for a few weeks. While enjoying beautiful surroundings, warm sun or cultural enrichment, it’s easy to imagine how nice it would be to own a home that would let you do so whenever you wanted. But don’t let your imagination run away with you. Before you snap up a beach house or a mountain cabin, give the same thought […]
Trusts can serve many purposes, from transferring wealth to furthering philanthropic goals. If asset protection is a priority, a self-settled spendthrift trust can be a valuable tool for wealthy individuals and their families. Self-settled spendthrift trusts, often called self-designated trusts, have become increasingly popular for those who wish to protect their assets from future creditors (or future exes). A self-settled trust is a type of irrevocable trust in which the […]
‘You Snooze, You Lose,’ Billionaire Tells IRS. Media mogul Sumner Redstone is challenging a $1.1 million gift tax bill that the Internal Revenue Service issued more than 40 years after the transaction at issue. In the late 1960s, Redstone and his brother, Edward, received shares in the family’s movie-theater business from their father, Mickey. To settle a bitter legal fight with Edward, Sumner and Mickey Redstone agreed in 1972 that […]
Choices about reproduction are among the most personal most of us will ever face. However, assisted reproductive technologies (ARTs) can cause financial complications that are important to discuss with an adviser.