General

According to LongTermCare.gov, approximately 70% of Americans will need long-term care (LTC) at some point in their lives. This could mean in-home nursing help or an extended stay in a nursing home or assisted-living facility. You’ve probably heard of LTC insurance and may have received mixed messages about it vs. other funding options. The truth is, […]

If you own a closely held corporation, you can borrow funds from your business at rates that are lower than those charged by a bank. But it’s important to avoid certain risks and charge an adequate interest rate. Basics of this strategy Interest rates have increased over the last couple years. As a result, shareholders […]

Starting in 2024, employers can offer their nonhighly compensated employees the option to participate in emergency savings accounts that are linked to their company defined contribution retirement plan accounts. This option was introduced in the SECURE 2.0 Act. Defined contribution plans include 401(k) plans. Employees can then make contributions out of their salary to fund their […]

Perhaps you’ve been in this situation before: You have a financial emergency and need to get your hands on some cash. You consider taking money out of a traditional IRA or 401(k) account but if you’re under age 59½, such distributions are not only taxable but also are generally subject to a 10% penalty tax. […]

Starting September 1, 2023, federal student loans will begin accruing interest again. And loan payments will officially restart in October 2023. As part of federal relief measures during the COVID-19 pandemic, individuals with federal student loan debt weren’t required to make payments, and interest charges were suspended. Those relief measures have been in place since March […]

“Thousands of people have lost millions of dollars and their personal information to tax scams,” according to the IRS. The scams may come in through email, text messages, telephone calls or regular mail. Criminals regularly target both individuals and businesses and often prey on the elderly. Important: The IRS will never contact you by email, […]

Occupational fraud can be defined as crimes committed by employees against the organizations that they work for. Perhaps its most dangerous variation is executive fraud — that is, wrongdoings by those in the C-Suite. Senior-level execs are in a prime position to not only inflict substantial amounts of financial damage, but also severely impair the […]

Businesses of all stripes are about to embark upon a new calendar year. Whether you’ve done a lot of strategic planning or just a little, a good way to double-check your objectives and expectations is to revisit your business plan. Remember your business plan? If you created one recently, or keep yours updated, it might be […]

According to the U.S. Bureau of Labor Statistics, the U.S. unemployment rate rose slightly to 3.7% in October. Seeing as how that’s still a relatively low number, your business may be struggling to fill its open positions. Offering equity-based compensation to job candidates is one recruitment strategy to consider. Many companies have used stock options […]

The overall stock market has been down during 2022 but there have been some bright spots. As year-end approaches, consider making some moves to make the best tax use of paper losses and actual losses from your stock market investments. Tax rates on sales Individuals are subject to tax at a rate as high as […]