“Your Co-owned BusinessProbably Needs a “Buy-Sell Agreement’” To get my complete, FREE articlewith all the details… Are you the co-owner of an existing business? Might you be buying an existing business with some other owners? Might you be founding a new business with some other owners? If you are, you should really consider putting a“buy-sell” agreement in … [Read more...]
Life Insurance
Sorted by Date
Tax Considerations When a Loved One Passes Away (Part 2)
Benjamin Franklin observed that “nothing is certain except death and taxes.” And when the death of a loved one does occur the inevitable issue of taxes does arise. Who is responsible for paying the taxes due upon the decedent’s death? The executor. And if you become an executor, I urge you to read the full article. It’s the second in my three-part series that … [Read more...]
New Law Kneecaps Stretch IRA—Here’s What You Can Do About It
Do you have an IRA? Then I urge you to read the full article. Why? Because it explains how the SECURE act, enacted by Congress last December, severely and negatively impacted the Stretch IRA strategy. NOTE: The “SECURE” stands for, “Setting Every Community Up for Retirement Enhancement.” What exactly was the Stretch IRA? The Stretch IRA wasn’t another kind of IRA. It … [Read more...]
Section 105 Medical Expense Deduction-Plans for Statutory Employees
_________________________________________________Let’s start with a definition. A “statutory employee” is an independent contractor who is treated as an employee by statute for the purposes of tax withholding. _________________________________________________ Are you a “statutory” employee? Then you should know that, if you’re qualified, you can create a Section 105 … [Read more...]
Check Your Beneficiary Designations Now, Before Disaster Strikes.
Are your beneficiary designations listed correctly on key documents? Are they up to date? I sure hope so because you may think that with the generous $1.4 million federal estate-tax exemption, your estate wouldn’t owe any federal estate tax. Or that your estate plan is in good order. But things change. Your wishes change. And things can turn ugly fast if your beneficiary … [Read more...]