Family vacation homes often provide a retreat for you and your family to gather and enjoy one another’s company. The home brings not only emotional attachment but also unique planning challenges. Parents or grandparents often desire to have the next generation make their own memories while spending time at the family vacation home.Read More
Savant offers perspective on a variety of topics. Entries range from current events to timeless insights in the world of finance and investments.
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
Over time, as your individual and family circumstances change, you may find that you own an annuity or cash value life insurance policy that no longer suits your needs.
If you have such holdings within your portfolio, there are attractive ways to repurpose such assets where they again can play a role in your overall financial plan such as for long-term care insurance protection.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