Financial Planning Insights

When you create a partnership there are tax benefits that come with that decision. When the time comes to dissolve the partnership there are many things that need to be considered for succession planning. The tax consequences when exiting a partnership can be significant and it is important to consider them when making the decision to end the..

Choosing the right employee benefits and compensation for your business is one of the most important decisions that you will make in relation to your business. What your business can afford to pay is a big consideration when choosing worker benefits and pay. Equally important is the impact it will have on your ability to not only hire the best..

Investment is risky. No one makes an investment with the intention of losing money but the potential is always there. Many of the potential investment risks are avoidable if you are aware of them and take the proper precautions. You need to familiarize yourself with the investments that you are making and how much risk they involve. In most cases,..

The United States government is funded by our tax dollars. Almost all of us strive to pay whatever is legally due during tax return time. But thieves take advantage of many working Americans each year. These scammers take hard-earned money from taxpayers illegally. The IRS estimates that millions of dollars are lost by Americans each year to tax..

Asset protection should be a high priority for anyone who has any financial assets. As a business owner, it is a little more complicated. You have personal assets and you may also have business assets. When it comes to personal assets, it is important that they are kept separate from your business assets. Here are 5 tips that you can use to help..

There are so many different options as far as fringe benefits that companies offer within their employee benefits that it can become confusing tax-wise. Your W-2 shows many of these perks so we often think they are all taxable. However, in the case of health insurance, it is not a taxable event. But as it is with all tax rules, there are..

Congratulations on starting your new business. With all the things that are involved in starting a new business, you may not have had the time to consider all the tax ramifications of a startup business. The IRS categorizes startup costs as those related to the research that went into the formation of your business and then the actual formation of..

One of the vast number of employee perks that are offered now to draw new employees is the provision of life insurance. Most medium-to-large size companies, as well as some small businesses, provide group life insurance for workers, managers, executives and owners. Group life insurance is an inexpensive way to give employees a valuable benefit...

By the time you get to your 30s, you should have established yourself in your career. You may be married and may even be a parent. You have a lot of demands on your money. In spite of those demands, you can still build your wealth in your 30s. By following some or all of these suggestions you can help to guarantee that you will be well established..

The topic of fringe benefits has become a source of concern for many working class individuals. If you aren't aware of exactly what a fringe benefit is, the IRS defines a fringe benefit as: "a form of pay (including property, services, cash or cash equivalent) in addition to stated pay for the performance of services". Clear as mud, right? Not..