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taxes

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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Understanding Minimum Distribution Rules

September 21, 2011
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If you’re approaching retirement, you’ll eventually need to make serious decisions about when to begin taking withdrawals (known as distributions) from your retirement accounts, how to receive the money and how to calculate the taxes you’ll owe.* Fortunately, the rules governing required minimum distributions (RMDs) have been simplified in recent years. Still you should exercise…

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Tips for Transitions: Make the Most of Your Retirement Account Options

March 17, 2011
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It’s a fact: The average American holds nine different jobs before the age of 34.* It’s also a fact that the decisions you make about how to manage retirement assets when changing jobs can have a direct impact on your future financial health. Case in point: “Cashing out” retirement plan assets before age 59½ (55…

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