The straight line

Although it may not seem like it initially, a divorce is a major financial transaction. As such, it has serious tax implications and potential tax pitfalls. This is especially true when it comes to splitting up tax-favored retirement accounts between divorcing spouses. Planning ahead is critical to getting good tax results. Use a “QDRO” to...

The IRS considers a paper return that’s due April 15 to be timely filed if it’s postmarked by midnight on April 15. But dropping your return in a mailbox on the 15th may not be sufficient. For example, let’s say you mail your return with a payment on April 15, but the envelope gets lost....

The deadline for 2014 IRA contributions is April 15, 2015. The limit for total contributions to all IRAs generally is $5,500 ($6,500 if you were age 50 or older on Dec. 31, 2014). If you haven’t already maxed out your 2014 limit, consider making one of these types of contributions by April 15: Deductible traditional....

If your business finds that it must lay off a large number of employees, make sure you are in compliance with a federal law that requires some employers to provide advance notification. This little-known law is called the Federal Worker Adjustment Retraining and Notification Act (WARN). Under the law, employers who are covered must give 60...

Smart company owners and executives obtain business interruption insurance — and possibly contingent business income coverage if the operation relies heavily on outsourcing or a particular supplier. The idea is that the policy will compensate the company for lost earnings if a devastating event forces it to temporarily close down. But the calculations and coverage of...

On December 19, 2014, the President signed into law the Tax Increase Prevention Act of 2014. This legislation included the Achieving a Better Life Experience Act of 2014 (ABLE Act), which provides for a new type of tax-advantaged account for disabled persons called an ABLE account. New Type of 529 Plan The tax laws have long encouraged Americans...