What you should know about the Estate Tax?

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The federal estate tax is a tax on property (cash, real estate, stock, or other assets) transferred from deceased persons to their heirs. Only the wealthiest estates pay the tax because it is levied only on the portion of an estate’s value that exceeds a specified exemption level — $5.49 million per person (effectively $10.98 […]

Are you a Fiduciary?

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Under the U.S. legal system, a fiduciary duty is the legal term describing the relationship between two parties that obligates one to act solely in the interest of the other. The party designated as the fiduciary owes the legal duty to a principal, and strict care is taken to ensure no conflict of interest arises between the […]

Pre Tax Plans

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A cafeteria plan, also known as a section 125 plan, is a written plan that provides employees an opportunity to receive certain benefits on a pretax basis by allowing them to choose between receiving a taxable benefit (such as cash) or certain qualified benefits for which the law provides an exclusion from wages (such as […]

Do you offer your employees a 401k plan? Then this applies to you!

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Your payroll company is not a fiduciary for your 401k plan. You need to understand what you are responsible for. DOL audits are increasing every year. Be prepared. If you need help – let us know! Federal law protects plan participants by requiring all who provide retirement investment advice to abide by a “fiduciary” standard. […]

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