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What Parents Should Know About Health Coverage When a Child Turns 26
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The Affordable Care Act generally requires health insurance plans to offer dependent coverage until age 26. (Actual termination dates vary.) Parents should work with their young-adult children to prepare for this change well before that landmark birthday. We suggest ways to manage the transition and avoid potentially costly coverage gaps.
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Resolving Tax Debts Through the IRS OIC Program
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Those struggling with federal tax debt should look into the IRS's Offer in Compromise (OIC) program. It may allow an individual or business to settle tax liabilities for less than the full amount owed. However, eligibility requirements are strict. We explain how the program works and discuss two alternative payment options.
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How Philanthropy Can Strengthen Your Family Business
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Doing good is good for business. Because family businesses are deeply rooted in their communities, they're positioned to make a meaningful impact where it matters most. This article explores how family businesses can approach charitable giving thoughtfully and strategically to maximize community impact and business benefits.
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A House Divided: Tax Planning for a Home in a Divorce
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The sale of a home is a common occurrence in a divorce. If you are going through a marital break-up, depending on how you divide your property and how the divorce papers are worded, you could end up paying taxes on a home sale gain that would otherwise be tax-free. Read this article to find out what you need to do to plan ahead and pocket your share of the profits.
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Defending the Status of Independent Contractors
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Hiring independent contractors is a good way to cut costs. But you must know the rules. A misstep can result in hefty tax bills and penalties. Here's some important information about the IRS and how it treats the employee-versus-independent-contractor issue so you can avoid trouble.
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Our firm provides the information in this e-newsletter for general guidance only, and does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers. Before making any decision or taking any action, you should consult a professional adviser who has been provided with all pertinent facts relevant to your particular situation.
Tax articles in this e-newsletter are not intended to be used, and cannot be used by any taxpayer, for the purpose of avoiding accuracy-related penalties that may be imposed on the taxpayer.
The information is provided "as is," with no assurance or guarantee of completeness, accuracy, or timeliness of the information, and without warranty of any kind, express or implied, including but not limited to warranties of performance, merchantability, and fitness for a particular purpose.
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