Are you the sole owner and employee of a business? Do you want to maximize tax-deductible retirement savings? You may be eligible for a one-participant retirement plan, which covers an owner, or an owner and spouse, in a business with no other employees. As such the plan is not subject to nondiscrimination testing and has […]
Do you have a “superman” complex, and think you’ll never get hurt or sick? Maybe you plan on getting your estate in order when you’re older; after all, you’re young and healthy! Did you know that the three largest legal battles regarding health care issues involved women under the age of 30 – Nancy Cruzan, […]
The terms estate tax and inheritance tax are often used interchangeably, which can cause confusion. On the surface, it might seem like the two terms refer to the same tax but, in fact, estate and inheritance tax are two very different things. The largest difference between the two is who is paying the tax; a […]
If you’re considering hiring a financial planner, make sure to raise these six critical questions: 1) What credentials or certifications do you have? The financial industry is notorious for acronyms and abbreviations that can often be quite confusing, leaving you drowning in a big bowl of alphabet soup. The countless degrees and designations some financial professionals […]
A Health Savings Account (HSA) is a tax-advantaged medical savings account. Unlike a Flexible Spending Account (FSA) which is “use it or lose it,” an HSA allows you to save and invest your balance for current and future medical expenses. The money in an HSA rolls over each year and there are no required distributions […]
As many have heard by now, the Department of Labor (DOL) made it clear through its April 6, 2016 ruling that investor interests must come first and their advisors must act in a fiduciary capacity. The goal of the ruling is to protect investors by requiring all who provide retirement investment advice to plans and […]