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Business Owners

Frequently Asked Questions – Why Do Women Need Life Insurance?

September 11, 2012
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Today, women have more financial responsibilities than ever before. How will your family or loved ones manage financially if you die? Whether you are single, married, employed, or a stay-at-home mom, you probably need life insurance. At the very least, life insurance can help pay for the costs of funeral and burial services, estate administration,…

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What Does the Supreme Court Ruling on the Health-Care Reform Law Mean for You?

July 4, 2012
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On June 28, 2012, the U.S. Supreme Court ruled, in a landmark decision, that the Patient Protection and Affordable Care Act (ACA), including the provision that most Americans carry health insurance or pay a penalty, is constitutional. The ACA, signed into law in 2010, made sweeping reforms to health-care coverage in the United States. Many…

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Keeping Track of Expiring and New Tax Provisions

May 7, 2012
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A number of significant federal income tax provisions expired at the end of 2011, a fact that might be easily overlooked with so much attention being focused on the “Bush tax cuts” that are still in effect, but scheduled to expire at the end of 2012. And new Medicare-related taxes, effective in 2013, have received…

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Family Limited Partnership (FLP): Business Succession Planning

April 2, 2012
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A family limited partnership (FLP) is a limited liability business entity created and governed by state law, and it is generally composed of two or more family members. It can be a powerful estate planning tool that (1) may help reduce income and transfer taxes, (2) lets you distribute assets to your heirs while keeping…

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Gift- or Sale-Leaseback: Estate Freeze Technique

March 19, 2012
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A sale-leaseback is a transaction where one party sells property to another party and then immediately leases back the property. Similarly, a gift-leaseback is a transaction where one party gives property to another party and then leases the property back. A sale-leaseback is useful if a business owner needs to raise cash by selling assets,…

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Payroll Tax Cut Extended to End of 2012

March 5, 2012
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If you work in a job that’s covered by Social Security, your employer normally withholds 6.2% of your wages to pay for the Social Security portion of federal employment (Federal Insurance Contributions Act, or FICA) taxes (assessed on wages up to the taxable wage base of $110,100 in 2012). Your employer has to pay the…

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Tips for Starting a Business in Retirement

September 14, 2011
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Not that long ago, retirement meant long days punctuated by occasional games of golf and bridge. But today, with lengthening life expectancies and dwindling pensions, many Americans are looking to retirement as an opportunity to start a new business. Common Characteristics Older entrepreneurs differ from their younger counterparts in several critical ways. For one, seniors…

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Considerations for Owning Company Stock

June 22, 2011
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Owning company stock within your employer-sponsored retirement plan is not necessarily a bad thing. The issue, however, is that for some investors, company stock may represent too large a percentage of their retirement plan assets. Here are some tips to help you determine if your portfolio is too heavily weighted with your employer’s stock. Know…

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Insurance Strategies to Help You Protect Your Business

October 19, 2010
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As a business owner, you need to ensure that you have adequate insurance coverage to protect family, business partner(s) and key employees, so that no matter what the future holds, the business can continue to provide for those who depend on it. With the right insurance strategies in place, you can guard your business against…

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