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The SECURE Act

On December 20, 2019, President Trump signed the Setting Every Community Up for Retirement Enhancement Act (SECURE Act). The SECURE Act, which is effective January 1, 2020, is the most impactful retirement legislation of the past decade.  Here are a few major provisions of the SECURE Act: Increases the age for required minimum distributions (RMDs) from retirement accounts from 70 …

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Won’t Back Down

“I got just one life in a world that keeps on pushin’ me around. But I stand my ground and I won’t back down.” Tom Petty Once again, a famous person has died, and family litigation has resulted. His wife of 16 years and his children from a prior marriage are each standing their ground in probate court litigation (1). …

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Do’s and Don’ts for Managing Employee Social Media Use

Do’s and Don’ts for Managing Employee Social Media Use DO: • Have a plan to manage employee social media use. Employers can be held vicariously liable for legal liability arising out of their employees’ social media use. For example, Employees could leak sensitive company or client information or even the employer’s intellectual property, trade secrets and/or copyrights. • Implement a …

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Five Reasons Your Single-Member LLC Needs an Operating Agreement

Five Reasons Your Single-Member LLC Needs an Operating Agreement An operating agreement is a contract that controls your LLC’s operations as well as member interaction with each other and with the LLC.  You may think that an operating agreement is not necessary for your single-member LLC; after all, why make an agreement with yourself? Is the Operating Agreement a Legal …

Graduation Month Checklist

Do you have a child going off to college soon? You may be asking yourself what else, besides helping them pack, do you need to do.  Once a child reaches the age of 18, a parent’s decision-making role is significantly diminished, especially with regards to making healthcare decisions.  So as you prepare to send your child off to college, make …

NEW YEAR, NEW TAX LAWS!

The year has come to a close with the passage of the Tax Cuts and Jobs Act of 2017 and many of us are trying to determine the impact to our tax profile and to our families. ESTATE, GIFT, AND GST CHANGES. Let’s start with the impact on our families and the financial legacies that are changed by the Act. …

Goodbye 2016, Hello 2017 Trust + Estates

Goodbye 2016, Hello 2017 Trust + Estates Discounting of Ownership Interests:  Summer of 2016 brought proposed federal regulations that would prohibit the use of discounts to the value of interests in family-controlled entities commonly used to transfer wealth from one generation to the next tax efficiently.  Prior to the election, it was anticipated that the proposed regulations would be finalized …