Category: Financial Planning
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First five strategies to deal with the new tax law
My action plan for bringing actionable information to clients as soon as the tax bill becomes law. Update December 31, 2017: Major parts of the law become effective tomorrow. I’ve moved past most of the preliminary points in this article and am now focused on the actions that can make the most immediate impact on…
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Business Planning for 2018
As we begin this month of December 2017, it now seems clear that business taxes will be substantially different and more complicated in 2018. We can also be safe in saying that, for most businesses, nothing else will have as much impact on the net financial results of the business as this change in tax…
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Exit planning for your small business
Advance planning for the day when you no longer run your small business can make a big difference to you, your family and your clients.
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My Friday client communications
Good communication is key to effective tax and financial planning! In today’s complex environment it is too easy to miss a communication and lose momentum. I try to review the status of all time-sensitive open issues weekly.
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“Current events in compensation and benefits planning”
Twenty years ago I taught a CPE course in my 2nd floor office in suburban Narberth PA called “Current events in compensation and benefits planning”. It was approved for CPE credit by the PA Bar Association, the PACPA and the PA Insurance Department It was surprisingly popular and the 12 chairs in the conference room…
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The market for health insurance advice (revisited)
Yesterday a peer in a closed online business discussion group asked me about the viability of health insurance advice and this triggered a recount of my prior experience in this field and a reexamination of my conclusion on the topic. There is actually quite a history behind my conclusion that health insurance advice is not…
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How can I save real money on health care?
If you run a business, are self-employed or otherwise pay the full cost of your own health care expenses then you know that the price is too high. We are quickly approaching the point where one out of every five dollars of income will be spent on health care. This week the federal government took…
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Taxation of home health care benefits and family caregivers
When it comes to providing care in the home for a parent or relative, the tax implications can quickly become complicated. The IRS issued some guidance last year when payments come from Medicaid or similar programs under section 1915(c) of the Social Security Act. In short, these payments are not subject to self-employment tax but…
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Six shocking economic trends and how they affect us
Six headline-grabbing trends jumped out at me from the news recently and so I clipped graphics from The Wall Street Journal to illustrate the points. All seem to have potentially large economic impact for ordinary Americans and small businesses. My specific purpose is to consider the effects these trends might have on my own life…