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When selling your business, have a retirement backup plan
July / August 2015
Newsletter: Planning for Prosperity / Wealth Management Advisor
Price: $225.00, Subscriber Price: $157.50
Word count: 761
Abstract: The proceeds that come from selling a business can be an important part of one’s retirement plan. However, counting on the sale to fund most or all of a person’s future expenses can be problematic. This article explains how executing a sale takes preparation, good timing and, often, the help of knowledgeable advisors. A sidebar offers tips for improving a company’s value.
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Weak buy-sell agreement leads to lengthy litigation
May / June 2014
Newsletter: Advocate's Edge / Litigation Support
Price: $225.00, Subscriber Price: $157.50
Word count: 761
Abstract: Closely held businesses often rely on buy-sell agreements to ensure a smooth transition when an owner exits the company. But the agreement also needs to provide a clear method for valuing the shares for repurchase. This article describes a court case that resulted when a buy-sell agreement didn’t include the value for company stock shares and the two parties couldn’t subsequently agree on a valuation method. A sidebar explains why using valuation formulas in a buy-sell agreement can be problematic.
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8 tips for running a valid accountable plan
Winter 2011
Newsletter: Profitable Solutions for Nonprofits
Price: $225.00, Subscriber Price: $157.50
Word count: 761
Abstract: Many nonprofits have an accountable plan for employee business expense reimbursements. Those that don’t are at risk for having to add reimbursements to their employee’s wages for income tax and Social Security tax purposes. To comply with IRS requirements, it’s necessary to have the right policies and procedures in place. This article offers eight tips for making sure that a plan is beyond reproach.
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Plan fees and their disclosure – How one sponsor met its fiduciary obligation
Year End 2009
Newsletter: Employee Benefits Update
Price: $225.00, Subscriber Price: $157.50
Word count: 761
Abstract: With economic markets recovering from near record low levels, individuals are watching their investment account activity more carefully than ever. Maybe this is what inspired four retirement plan participants to take a closer look at their investment activity. This article summarizes a class action suit for alleged high mutual fund fees and lack of fee disclosure to plan participants.
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Should your life insurance be in an FLP?
July / August 2008
Newsletter: Estate Planner
Price: $225.00, Subscriber Price: $157.50
Word count: 761
Abstract: Life insurance is one of the building blocks of a sound estate plan. The key to avoiding estate taxes on life insurance is to make sure the policy holder doesn’t own the policy or possess any “incidents of ownership” in it. One option is to have an irrevocable life insurance trust purchase the policy. Another option that offers greater control and flexibility is having a family limited partnership (FLP) hold the policy. This article explains what an FLP is and its advantages and disadvantages of holding life insurance. (Updated: 7/27/12)
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Is it sponsorship or advertising? Know the difference between tax-free and taxable income
February / March 2008
Newsletter: Nonprofit Agendas
Price: $225.00, Subscriber Price: $157.50
Word count: 761
Abstract: As a nonprofit you’re generally not taxed on your income, unless that money comes from a trade or business unrelated to your exempt purpose. An important exception to the unrelated business income tax (UBIT) rule is sponsorship income. If income is derived from a qualified sponsorship, it’s tax-exempt. However, if the income comes from advertising, it’s taxable. Thus, knowing the difference between sponsorship and advertising is crucial.