Last summer, the Department of Labor proposed new rules to govern overtime pay. That was followed by a comment period, in which they were flooded with feedback. Of course, it’s impossible to know how much of the industry feedback will be incorporated into the final version of the rules, but it might be prudent to make contingency plans now. Here’s a quick review of what may happen, and how to get ready.
Nobody likes paying money to the IRS, but some federal tax levies are harder for people to swallow than others. Which tax assessmentis your least favorite? See how your preferences compare to our informal survey of most-hated taxes. With advance planning, you may be able to minimize or even eliminate these tax issues.
If you have homeowner and auto insurance policies, you may think you are well protected. But these policies generally have limits that can easily be exceeded if you’re found liable in an accident. Where does that leave you? Read the “Full Article” to find out what your exposure is and how you can bridge the gap with a personal liability umbrella policy. Plus, find out about dog bites and liability.
Is your retirement portfolio designed with your retirement lifestyle in mind? What do you hope to be doing once you leave work? Start a business? Travel? Once you know what you plan to do later, you can make decisions about the risk you’re willing to assume now in your portfolio. Here are some points to consider.
More than a decade ago, a law was enacted that can help older workers make up for lost time saving for retirement. But few may understand how “catch up” contributions to retirement plans can add up over time. Only 18 percent of individuals age 55 and older say they’re “very confident” they’ll have enough money to live comfortably throughout their retirement years. This article explains how you can use catch up contributions to save more for the future.
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.