Social Security’s rules for collecting are complicated. Benefits for widows are calculated differently than traditional Retirement Benefits, so there are a few key rules and strategies that you need to be aware of. Below are seven things you need to know about Social Security Survivor Benefits.Read More
Roth contributions are good, right?
A brand new client walked into a small financial planning office (we’ll call him Jim). Jim unpacked his account paperwork on the conference room table – a few brokerage accounts, a 401(k), a Roth IRA, that sort of stuff.Read More
With the 2018 tax year closed, most taxpayers saw a decrease in their refunds, and some even owed taxes when they usually receive refunds. This was due to the adjusted withholding tables that came into effect in February 2018, lowering the amount of taxes taken out of taxpayers’ paychecks. Since less tax was paid throughout the year, many saw a tax bill larger than they anticipated when filing their tax returns.Read More
What is Non-Qualified Deferred Compensation or NQDC?
Non-Qualified Deferred Compensation, or NQDC, is compensation that has been earned by an employee but has not yet been transferred from the employer to the employee. Because the employer still has ownership of the compensation, it is not included in the employee’s earned income and therefore is not considered taxable income. This allows an employee to postpone or defer compensation and receive it sometime in the future, usually for purposes of retirement income.Read More
One of the major aspects of a business sale is whether the business will be sold as an asset or as stock. An owner might be thinking, “Does it really matter as long as I get the highest sales price?” Well, as you’ll see below, there are plenty of circumstances that can make a lower sales price more attractive.
To highlight some of the key differences between an asset and stock sale, let’s review some important tax, business liability, and complexity considerations.Read More