All mergers are different, and at times the end goal of setting up a new company that results from the merger is front and center in one's mind. Joy and pure excitement come at closing the deal, but if this is a family business, a mixed bag of emotions follows fast.
When you are an employee, your employer withholds taxes from every paycheck and sends the money to the IRS. But when self-employed or earning income other than a salary, you need to pay estimated taxes each quarter. What kind of income might be subject to quarterly payments?
A deferred annuity is a contract between you and a life insurance company. Funds are exchanged for a promise to provide a competitive rate of interest with a minimum interest rate guarantee while guaranteeing the principal investment as well. The benefit payments don't start until perhaps 10 or 20 years down the road. The longer you wait for the payments to kick in, the more you'll get.
You may have passed on interruption insurance because policy costs range from $750 to $10,000 or more, depending on business size. But consider this: Today there are a greater number of earthquakes, storms, floods and heatwaves damaging businesses in major ways. Since 1970, the number of disasters has more than quadrupled worldwide.
The new tax law nearly doubles the standard deduction for individuals and families, simplifying the filing process for millions of Americans, but complicating giving strategies for many who have made a habit of deducting their charitable contributions.
For families trying to save for their children's college education, 529 college savings plans, named for a section of the tax code, have always been hailed as a great option — perhaps the best. Let's look more closely at what has always made them a good deal:
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