The Consolidated Omnibus Budget Reconciliation Act of 1986 (COBRA) enacted health care continuation coverage requirements applicable to employers with more than 20 employees (except churches, the federal government, and the District of Columbia). COBRA requires an...
Section 125 “cafeteria plans” can help business owners and employees lower their tax bills. Under Section 125 of the Internal Revenue Code, workers are permitted to withhold a portion of their pre-tax salaries to pay for premium contributions to...
Life insurance may be a “diamond in the rough” for your business if its ongoing success depends on one or more key individuals. The death or disability of such a person – for example, an owner or manager who brings in customers – can mean tough...
From time to time, circumstances may warrant taking money out of your 401(k) account. If you’re older than age 59½, become disabled, get divorced (in specific situations), or die, money can be removed from your 401(k) without paying the 10% federal income tax...
As larger corporations downsize to meet the competitive challenges of the 21st century, many middle managers are taking the opportunity to strike out on their own as consultants. They often seek the independence and satisfaction of working for themselves....
When Cindy and Sean Baxter purchased their life insurance policies ten years ago, they thought they did things the right way. They determined their insurance needs, taking into account the mortgage on their home, projected college education costs, and living expenses....
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