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Articles : Taxation

Taxes impact many of our business and financial activities. It is difficult to make an informed business decision without understanding, at least conceptually, the impact federal, state, and local taxes may have on the contemplated action. To that end, there are a wide variety of steps that can be taken to minimize and or obviate taxes which may significantly impact our financial world.

Divorce and Your Finances – The 7 Most Costly Mistakes
Each year there are nearly 1 million divorces in the United States, or about 50% of all marriages1. The real tragedy, however, is the financial devastation that occurs to many individuals after their divorce.  More »
Life Insurance as a Tool to Discount Estate Taxes by 90%
Wills, trusts, and the like are unpleasant subject matter that is usually considered shortly before departing on vacation. Many of us do not have a good understanding of what our documents call for, yet these documents represent all that we posses for those we love the most.  More »
Don't Lose Family Assets to Taxes
Many of us have heard horror stories of poorly planned estates causing confiscatory taxation, lawsuits, enmity among heirs and general disorder. Naturally we all have more pleasant things to consider than the disposition and management of our assets when we are incapacitated or deceased. Unpleasant or not, we all need to understand the consequences of our actions, and inaction.  More »
How Being At Fault While Not Financially Responsible Works
While sitting at a traffic light waiting for the green light, you are slammed from the rear by a drunk driver who never saw you and didn't even attempt to stop. Clearly, you are an innocent victim with no fault in the accident.

Impact of Litigation on Small Business
Most companies used business assets to pay the damages. However, in the case of employee complaints, insurance covered some of the damages.  Owners mentioned that the payment of damages nearly put them out of business, which affected them for a long period of time as they worked to rebuild the business and recoup their losses.