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  • Do you have a traditional IRA? You may have wondered whether you should take money out of it when financial needs come up. If you are under age 59 1/2, there’s generally a 10% penalty for early withdrawals — in addition to any regular income tax on the amount. However, there are exceptions to the penalty, as explained in this article, plus a note about retirement plan loans related to COVID-19.

  • If you have a child in college, it’s generally a good idea to complete the Free Application for Federal Student Aid (FAFSA) each year, even if you don’t expect to receive any need-based assistance. This form is used to qualify for federal direct loans and state financial aid programs. Plus, many universities rely on information provided on the FAFSA when offering financial aid to students. Here’s an overview of how this form is changing with the times.

  • Accidents can happen. It’s not fun to think about, but an unexpected incapacitation such an accident or an illness can happen to anyone. Family business owners must be prepared. One step toward doing so is creating a buy-sell agreement. A second, and often overlooked step, is adding a disability insurance component to the agreement. This article addresses both concepts.

  • Outsourcing: Eight Steps to Help Mitigate Risks
    In today’s business world, many companies outsource some tasks, often sending the jobs abroad. Outsourcing can save money, and in some cases even save some companies from going out of business. But whether you outsource outside the country or up the street, there can be risks. This article looks at some of the potential problems and offers eight ways to help mitigate the risks.

  • Before you sell your home or a vacation home, it’s important to review the basics of the federal income tax home-sale gain exclusion. If you qualify, the gain exclusion is one of the most valuable tax breaks on the books. Here’s an overview of how this break works.

  • Many employers have responded by rethinking the benefits they offer. There are ways to provide tax-advantaged health care programs to your employees, and at the same time, cut your overall costs

  • Remote work was required by many workplaces during the COVID-19 pandemic and may be with us for the foreseeable future. So, it’s important for your company to ensure that its connections to employees working from home remain as secure as possible. A multilayered defense is likely to prevent security breaches. Here are some security measures your business can take.

  • Family business owners should never underestimate it. Carefully chosen and properly administered benefits can not only attract and retain good employees, but also provide some remarkable tax breaks. This article explores the idea of providing long-term care insurance as just such a valuable benefit.

  • On September 6, 2021 Governor Kathy Hochul announced the designation of COVID-19 as an airborne infectious disease under the new NY HERO Act

  • The cost of an insurance policy is mainly based on the probability that you’ll file a claim while the coverage is in force. That’s why long-term care policies generally have higher premiums than life insurance. But is that a reason to buy it? Finding the answer requires some digging and reflection on your part, but it’s worth the effort. Here’s more.