Retirement Planning Options for Business Owners

In general Perhaps you are self-employed or own a small business. Or, you may be directly involved in running a corporation or a tax-exempt organization. In any of these cases, you generally have the option of establishing a retirement plan in which you and/or your employees may participate. One of the main advantages of a …

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Profit-Sharing Plan

What is a profit-sharing plan? A profit-sharing plan is a type of qualified defined contribution plan in which you, the employer, contribute to the accounts of participating employees. As the name implies, your employer contributions are generally (but not necessarily) tied to your business's profits, allowing employees to "share" in those profits. Annual contributions to …

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IRS and Treasury Department Provide Guidance on Same-Sex Marriage

The U.S. Department of the Treasury and the Internal Revenue Service (IRS) have announced that same-sex couples who are legally married in jurisdictions that recognize same-sex marriage will be treated as married for all federal tax purposes. Guidance has been provided in the form of a Revenue Ruling (Rev. Rul. 2013-17) and associated Frequently Asked …

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