Maximizing Medical Deductions

Under federal health insurance legislation, you’ll probably find it more difficult to claim medical expenses as itemized deductions on Schedule A of your tax return, beginning in 2013. You’ll get deductions only for expenses that exceed 10% of your adjusted gross...

Getting Started on a Succession Plan

As a successful business owner, you still may reach a point where life’s realities are at odds with your career. Your health might decline, making it more difficult to keep up the pace, or you may just be tired of working so hard and decide to step aside. Whatever the...

The Web and Legal Excellence

The Web has been a boon for the practice of the the Law, as well as for customers of legal services. But perhaps the best thing about the Internet in general for litigation concerns is not its encyclopedic amount of information on regulations, laws, legal precedence...

Diversify 529 Accounts

Total college savings assets in 529 accounts reached $168.5 billion by the end of 2012, up 16.7% for the year, reports Financial Research Corp. (FRC), Boston. Parents increasingly use these plans to fund future college costs because of the tax advantages. Any...

New In-Plan Conversions for 401(k) Plans

Although traditional 401(k) plans have become widespread, many employers are adding Roth 401(k) s to their employee benefits. The relationship between these two types of plans is similar to the relationship between traditional and Roth IRAs: Traditional 401(k)s are...

Using the Work Opportunity Tax Credit

Among the business related provisions of the American Taxpayer Relief Act of 2013, the work opportunity tax credit (WOTC) was extended retroactively, for 2012, and also through 2013. Under the WOTC, employers can receive federal tax credits for hiring and retaining...