New Employee vs Independent Contractor Rule Effective March 11, 2024
The U.S. Department of Labor issues new rule on employee vs. independent contractor classification! Effective March 11, 2024, the six-factor test replaces the 2021 rule.
Individual Bonds vs. Bond Funds: What’s the Difference?
Individual bonds have set coupons and maturities, while funds pay distributions based on market conditions. Understanding these nuances can help you make informed investment decisions.
Beware of These Life Insurance Beneficiary Mistakes
Planning your life insurance beneficiaries? Watch out for these traps: not naming one, having it paid to your estate, naming a minor, or disqualifying a beneficiary from government assistance. Learn how to avoid unintended consequences
There’s Still Time to Contribute to an IRA for 2023
You have until your tax return due date, excluding extensions, to contribute up to $6,500 for 2023 ($7,500 if you were age 50 or older on December 31, 2023) to all IRAs combined. For most taxpayers, the contribution deadline for 2023 is April 15, 2024.
Why Family Businesses Should Have Succession Plans
Succession planning isn’t just for TV dramas. In real life, it’s crucial for family businesses to ensure a smooth transition of ownership and leadership. Learn why it’s essential and how to start planning for your business’s future.
Are You Taking Advantage of Your Employer’s Fringe Benefits?
Did you know your employer might offer tax-free fringe benefits? From health benefits to education assistance, there are perks beyond your paycheck.
Major Tax Sunset on the Horizon
Wondering about the future of tax laws post-2025? With expiring provisions from the Tax Cuts & Jobs Act and pandemic-related changes, uncertainty looms. Stay informed to navigate potential impacts on estate and income tax planning.
SECURE 2.0 Provides New Retirement Savings Options in 2024
The SECURE 2.0 Act, passed in Dec 2022, brings key amendments to retirement savings. From matching student loan payments to new early withdrawal exceptions, and the introduction of emergency savings accounts – 2024 is seeing significant shifts.
Don’t Miss Out on Your Employer’s Flexible Spending Benefits
Unlock the Benefits of a Health FSA! Learn how an FSA empowers employees to tackle medical expenses tax-efficiently. No federal income or employment taxes on contributions, and reimbursements for qualified medical expenses are tax-free.
How Savers and Spenders Can Meet in the Middle
Money matters can stir up trouble in relationships when saving meets spending head-on. We look at how couples can bridge the gap, appreciate differences, and build a solid financial foundation