No one wants to face the possibility that their compensation may be clawed back. The complex tax aspects of the situation only serve to rub more salt in the wound.
Dividing some assets is a simple matter of math. Other assets, however, seem to pose as large a problem as the baby in the legend of King Solomon. Family farms, like that infant, are often both beloved and challenging to divide. For those who have poured years of work into a family farm or similar land-based business, the question of how to pass it on may seem a matter of […]
Investors who are wondering when it’s safe to get back into bonds have one thing going for them: They recognize a real risk that many don’t. But the question still heads down the wrong path. Generalizations about the timing of getting into and out of asset classes are rarely accurate, and they distract from the more productive goal of focusing on what you can do to maintain your long-term financial […]
The job market is still slowly recovering from the Great Recession, and even under easier circumstances, few people enjoy job hunting. Receiving a job offer about which you are excited often means that you hurry to accept. As an employee, however, you are responsible for seeing that you and your employer are on the same page about job duties, compensation, benefits and the other parameters of the job. If an […]
A Deferred Annuity Makes Taxable Estate Assets Disappear. Virginia Kite, a member of a prominent Oklahoma banking family, transferred substantial wealth in trust for her husband, a petroleum geologist who predeceased her. That wealth returned to her via several trusts after his death. At age 75, Kite then sold her trust interests to her children in exchange for a large deferred annuity that would not begin making payments for 10 […]
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?