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Middle-aged and older people, especially those in their 50s and 60s, often contemplate buying long-term health care insurance. In the end, only about 2.3% of this age group actually purchases it. The industry has contracted drastically since 2000, from over 100 insurance companies to only around 12 at present. The uncertainty of future claims and […]

The U.S. tax code is complicated and often hard to understand, with many provisions, credits and disallowances. Let’s review a few credits that many people are interested in, as well as how to respond to the IRS if you get married — or get a taxes-due notice. The Employee Retention Credit The ERC was implemented […]

Your max contributions to 401(k) plans for 2025 increase to $23,500, up from $23,000 for 2024, according to the IRS. The tax agency also issued technical guidance regarding cost-of-living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2025. The limit on annual contributions to an IRA remains $7,000. The […]

Schedule D is the IRS tax form that reports your realized gains and losses from capital assets — investments and other business interests. You detail the total purchase price of assets, what they were sold for and whether they were held for long term (more than a year) or short term (less than a year). […]

Imputed income is defined as the cash value of a benefit that is not part of your employees’ salaries. Even though the benefit — like a gym membership — isn’t received in cash, it’s still taxable based on its cash value. Imputed income was developed to ensure that workers don’t reduce the tax that would […]

A blended family often brings joy — there are more people to love and be loved by. As your family expands, you will want to provide for each child, whether from the previous or current marriage, and create safeguards to avoid future disagreements and potential unfair treatment. You can create an estate plan that accounts […]