Aid Package Signed Into Law
The much discussed aid package has been signed into law after significant delay and controversy. We’ll be revisiting this topic in the coming days as the details become clearer. Meanwhile, here are the key takeaways: A $600 check to many Americans. (The phase-out for individuals begins for those earning $75,000.) The amount is reduced by […]
IRS Introduces the New Form 1099-NEC
The IRS has introduced a new Form 1099-NEC, Nonemployee Compensation. It’s a sibling to Form 1099-MISC and replaces it for certain purposes. You must file it for each person in the course of your business to whom you have paid at least $600 during the year for the following: Services performed by someone who is […]
Are Annuities Right for You?
Annuities are financial products sold by insurance companies that allow you to put aside money, have it increase each year without paying taxes and then trigger a stream of future payments on a timetable you can control. Unlike IRAs, there’s no income limit on how much you can place in an annuity. By being in […]
Is Your Homeowners Insurance Up-to-Date?
Homeowners insurance is meant to protect against disasters ranging from fire to theft to lawsuits, encompassing most injuries and damage that members of your family might cause to other people. Most insurance carriers even count pets as members of your family. How much insurance do you need? What would it take to rebuild your home? […]
Is This Your Situation: Keeping Track of Inventory
Let’s start with the basics of the processes in a manufacturing setting. Whether your company is building something large, such as a car, or something small, such as a toy car, every piece of material needed to make these items must be accounted for, as do the hours it takes to build the product. To […]
What to Know About the SEP-IRA
An employer-sponsored retirement plan can be a great way for employers to show workers they care about employees’ long-term financial prospects while giving workers a way to save on their taxes. A simplified employee pension (SEP) plan lets business owners and self-employed individuals use a simple way to make contributions for retirement savings. SEP-IRAs come […]
