No one likes to think about estate planning, but it's important for even young adults to have their affairs in order, especially if they have family or loved ones. As the old saying goes, "hope for the best, prepare [...]
A trust is a legal entity that holds assets — money, property, stocks, bonds, insurance policies or artwork — for the benefit of another. Trusts help you accomplish your estate planning goals; their power lies in their versatility. A [...]
Many couples would rather talk about sex expectations than financial expectations and arrangements. And that’s unfortunate, because studies show that money issues are the number one stresser in marriages. And when stepchildren are involved, money stress can become even [...]
Saving for your child’s education is no small feat. Although it is ideal to begin a savings program when your children are born, some families don’t start saving until their children are older. One of the best options is [...]
Whenever you spend money on your business, the expense is either deducted on your federal tax return in the year it is incurred or depreciated over time. Here's how to tell what to do. Deductible costs: These are the [...]
According to a spokesperson from the Risk Unit of Marquette University of Milwaukee, Wisconsin, "Establishing effective internal controls can help a department operate more efficiently and effectively and provide a reasonable level of assurance that the processes and products for [...]
You're in business to make money to feed your family, send the kids to college or drive the sports car of your dreams. But when you're a shareholder in an S corporation, how and how much you get paid can [...]
Of particular relevancy to contractors is the research and development tax credit, a tax incentive program. Also known as the research and experimentation tax credit or the research tax credit, it allows companies to work at maximum efficiency, Many wrongly [...]
For tax purposes, gift givers, rather than gift recipients, have to pay gift tax. But you won't owe the gift tax until you've given away more than $5 million in cash or other assets during your lifetime. It sounds [...]
Despite all the "huffing and puffing" by the politicians, the Affordable Care Act is still with us. But that doesn't mean there haven't been changes. The IRS requires the filing of two pairs of forms: Form 1094-B, Transmittal of [...]
