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Timely Opportunities

FAQs on LTC Insurance and Your Taxes

If you or a loved one needs long-term care (LTC) services, there are insurance products that can help cover the cost. As an additional incentive, qualified LTC policies deliver some tax advantages. For LTC policies, “qualified” means that a policy is offered by an insurance company licensed in your state and includes certain federal tax […]
Timely Opportunities

How Much FDIC Coverage Do You Have?

In early March, Silicon Valley Bank (SVB) and Signature Bank unexpectedly collapsed. They became the second and third largest bank failures in U.S. history, respectively. The largest collapse involved Washington Mutual in 2008, precipitating the Great Recession. (See “Two Banks Collapse in One Week” at right.) The recent regional bank failures have caused many individual […]
Intellectual Property

Non-Compete Agreements: What Can They Accomplish?

It may seem ironic that companies encourage innovation and brilliance while employees are on the payroll, but pull the plug on that ambition if they dare to leave. But non-compete agreements attempt to do just that to control damage. State Laws Vary Laws regarding non-compete covenants vary from state to state. For example, courts in […]
Employment Law

Spot Time Bombs in Your Employee Handbook

  Catch Dangerous Traps Could your employee handbook be dangerous? Have you ever looked through it, pretending to be employee? Better yet, have you ever had your attorney read through your handbook to see how an employee might be able to use it in court? This type of auditing can help spot potential time bombs… […]
Timely Opportunities

Workouts: A Practical Alternative to Formal Bankruptcy Proceedings

Is your company teetering on the edge of bankruptcy? In the wake of the pandemic, many small businesses are suffering financial distress from inflation, labor shortages, rising interest rates, tighter credit and continued economic uncertainty. If your company is having trouble making ends meet, it may be time to devise a workout plan to avoid […]
Timely Opportunities

Update on Deducting Business Meal and Entertainment Expenses

The federal income tax treatment of business-related meal and entertainment expenses has been a moving target the last few years. If you’re confused about what rules currently apply, you’re not alone. Here’s a refresher on what’s currently deductible — and what’s not. TCJA Impact Before the Tax Cuts and Jobs Act (TCJA) went into effect, […]
Business Fraud Prevention

How the Risk of Detection Reduces Fraud

Do your employees feel like they’re being watched? If they don’t, they may be emboldened to steal. In the same way that putting more police officers on streets tends to reduce crime, making your company’s anti-fraud activities more visible can discourage fraud perpetrators. Good internal controls are critical to preventing fraud. But many companies have […]
Commercial Law

Federal Requirements When a Product is Dangerous

Recalling defective products can be expensive and it may be tempting for manufacturers to ignore flaws. But that can be more costly in the long run, both in financial and human terms. Under the Consumer Product Safety Act, manufacturers, distributors and retailers must immediately report to the U.S. Consumer Product Safety Commission products with a […]
Timely Opportunities

How to Prepare for Potential Layoffs

There’s some sobering news amid other encouraging recent employment data that may take you by surprise in this tight labor market. After all, “now hiring” signs are everywhere, and some sources paint a picture of a historically strong jobs market. Even so, within the past year, Google, Amazon, Microsoft and other major tech companies have […]
Timely Opportunities

Investors: Know the Basics of Basis Before You Sell

If you’re thinking about selling stocks, mutual funds or other investments, you need to first familiarize yourself with the cost basis rules and their implications for your tax bill. Learning the rules may help you significantly reduce the amount of capital gains that will be subject to taxation as a result of the sale. Why […]