Insurance is crucial for any small business. Small-business owners may find themselves in a difficult situation without proper coverage if they suffer building damage or face a lawsuit. While obtaining adequate insurance for your company is critical, knowing when to reassess your coverage is also essential. As your business grows and changes, so do your [...]
As summer heats up, it pays to take a good look at how flexible you are. When you plan for the future, you need to be adaptable. No one knows what tomorrow holds. This is certainly true in the world of work. In a few short months, we will celebrate Labor Day. President Grover Cleveland [...]
Environmental, Social, and Governance (ESG) investing is on the rise throughout the world. A 2018 study from Harvard University’s Kennedy School of Government found that ESG investing now accounts for nearly $30 trillion, which is more than one-fourth of all assets under professional management worldwide.1,2 Here are some definitions and considerations to make when diving [...]
Summer is here, and it could be time to hit the road on a new adventure. If you’re on a tight budget, you don’t have to give up your summer vacation dreams. Here are a few tips you may be able to use to create the perfect vacation on a limited budget. 1. Travel During [...]
In United States v. Windsor (2013), the U.S. Supreme Court struck down Section 3 of the federal Defense of Marriage Act (DOMA) which required that federal statutes, regulations, and rulings are interpreted as defining marriage as a "legal union between one man and one woman" and a spouse as "a person of the opposite sex [...]
Generally, to be considered a tax-free exchange rather than a taxable surrender, you cannot receive the annuity proceeds directly—the proceeds from the annuity must be paid directly to the long-term care insurance company. Also, Section 1035 applies only if both the annuity contract and the long-term care insurance policy are owned by the same person [...]
Whether your child was just born or is heading toward high school graduation, a 529 savings plan may help you put aside funds to pay for college expenses without paying taxes (federal and some states) on any dividends and gains.1 However, 529 plans have some specific rules, regulations, and restrictions that parents must know before [...]
Defined benefit pension plans may still be an attractive retirement benefit option for small employers. This is especially true for small business owners who have been too busy growing their businesses to plan for their retirement. Because of their late start, they must make up for lost time. A defined benefit plan may be just [...]
It can be fairly easy to underestimate your net worth. After all, predicting the future value of your home and savings is merely hypothetical. On the other hand, you can rely on the fixed amount of the death benefit provided by your life insurance policy. However, adding this often significant sum to your asset pool [...]
If you are self-employed or own a small business and you haven't established a retirement savings plan, what are you waiting for? A retirement plan can help you and your employees save for the future. Tax advantages A retirement plan can have significant tax advantages: Your contributions are deductible when made Your contributions aren't taxed [...]
