- How to Refinance an Inherited Property to Buy Out Heirs
Individuals often list multiple people as heirs of real estate or other tangible property. Unlike liquid assets like money or securities, which are relatively easy to divide among heirs, dividing properties can be more complex. One option is to refinance… read more…
- How to Avoid Paying Taxes on an Inherited Annuity
Inheriting an annuity can provide an unexpected financial windfall, but there are certain tax implications to consider. Whether you’ll owe taxes, how much and when you’re required to pay them depends on how the annuity is structured and how you… read more…
- How to Write a Contract for the Sale of a Business
Selling a business involves a lot of paperwork and a good contract. A business sale agreement is a legal document that describes and records the price and other details when a business owner sells the business. It is the final step… read more…
- How Do Dividends and Capital Gains Differ?
There are generally two paths to building wealth through investments: dividends and capital gains. They can both fuel growth but in different ways with different tax implications. Understanding dividends vs. capital gains is an important part of managing your investments… read more…
- All About the Federal Unemployment Tax (FUTA)
If you qualify for unemployment benefits, you’ll likely receive them via the Department of Labor’s Unemployment Insurance (UI) programs. But someone has to pay for the benefits that unemployed workers receive. Enter the Federal Unemployment Tax Act, or FUTA tax.… read more…
- What Is Double Taxation and How to Avoid It
While death and taxes may both be certain, taxation is the only one of the two that can happen twice. If you own a business, the last thing you want is to get taxed on your income more than once.… read more…
- SEC Rules and Regulations Investors Should Know
The Securities & Exchange Commission (SEC) regulates much of the U.S. financial industry. This guide goes over the most prominent rules that the SEC enforces. Many of these regulations are focused on information being available to investors. The SEC wants… read more…
- A Guide to Small Business Tax Deductions
If you own a small business and run it for a profit, you can likely deduct the costs incurred. Small business tax deductions reduce your taxable profits and, therefore, business taxes. From home office expenses to advertising bills, here are… read more…
- 7 Tax Planning Strategies for Your Small Business
Smart business tax planning can make a big difference for your company. Each of the more than 30 million small businesses in the U.S. probably has a different ideal tax planning strategy. However, there are some generally applicable approaches. Many or… read more…
- Tax Implications of Selling a Small Business
Selling a small business means income, and income means taxes. But the way you structure the deal can make a major difference on how much of the sale price goes to taxes and how much stays with you. This includes… read more…
- Should You Choose S Corp Tax Status for Your LLC?
If you have a limited liability company (LLC), electing to tax it an S corporation could be helpful. Of course, the process for choosing a tax status is entirely dependent on your business’s financial situation. There are numerous factors at play… read more…
- SEC Disclosure Requirements for Advisors
Because registered investment advisor firms (RIAs) have a fiduciary duty to act in their clients’ best interests, they are subject to scrutiny and regulation by the Securities and Exchange Commission (SEC). This means RIAs are required to disclose certain financial… read more…
- A Guide to Sole Proprietorship Taxes
Being a sole proprietor or independent contractor can simplify your finances. However, it’s important to understand how your business structure affects your taxes. There are tax laws that sole proprietors need to know. This guide explains how to prepare, file,… read more…
- What Are the Community Property States?
If you live in a community property state, it could affect the way your finances are split up following a divorce. More specifically, states that use community property laws handle the division of specific types of assets and debts much… read more…
- What Common Law Marriage Means for Your Money
Common law marriage status can still apply to couples in states across the U.S. that recognizes many similarities to a typical marriage without the official legal document. Understanding what constitutes a common law marriage is important from a legal and… read more…
- What Constitutes a High-Net-Worth Individual?
A high-net-worth individual, or HNWI, is generally someone with at least a liquid $1 million, which is cash or assets that can easily be converted into cash. The U.S. Securities and Exchange Commission (SEC) uses slightly different requirements for its… read more…
- A Guide to Section 125 (“Cafeteria”) Plans
A cafeteria plan – also known as a Section 125 plan, after the portion of the IRS code that regulates the plans – lets employees redirect part of their salaries and wages to pay for certain benefits. Section 125 plans… read more…
- What Is a Tax Consultant, and What Do They Do?
A tax consultant can help you minimize your tax liability, capitalize on tax deductions and manage your tax situation. With more expertise than standard tax preparers, tax consultants can help with tax planning, inheritance issues, charitable giving and other complex tax… read more…
- What Is the Employee Retirement Income Security Act (ERISA)?
ERISA, or the Employee Retirement Income Security Act of 1974, is a law established by the federal government that’s designed to identify minimum standards for retirement and healthcare plans in the private sector. It also focuses on setting up protections… read more…