Estate planning when you have a stepfamily
Ideally, a second marriage that joins two families together is a joyous occasion that creates one bigger family unit. Unfortunately, it too often also can eventually produce inheritance fights between stepparents and children. A good estate plan is necessary to help avoid these types of family squabbles. When two people marry who both have children […]
Providing for a caregiver child
Taking care of an aging parent can be a full-time job. Children may have to give up paying jobs in order to provide adequate care. Unfortunately, caregiving is usually unpaid work. Parents who want to compensate a child who takes on the burden of caregiving may do so in one of several ways: Caregiver agreements. Caregiver […]
Verbal Contracts: Are They Enforceable in Massachusetts?
Is Your Word Your Bond? Our parents taught us to be people of our word—to mean what we say and say what we mean. For most situations in life, it is enough to give your word to enter into an agreement—from who will take out the trash this week to where to meet for dinner. […]
Don’t Overlook Renters Insurance
Do you rent an apartment or condo? If so, do you have renters insurance to protect your belongings and to cover you against liability claims? A surprising number of renters don’t bother with insurance. Some assume they’re covered by their landlord’s policy. Wrong! Usually that covers only damage to the building and liability claims against […]
Cross-Training: Essential for Small Business Survival
Have you considered cross-training your employees to ensure more than one person knows all key functions? Cross-training can be a win-win situation for you and your employees. Large companies often use it to prepare managers for future promotions. But in small companies, it can be the difference between success and failure. Why companies cross-train Cross-training […]
Businesses Get More Time to Apply For PPP Loans
Legislation provides other business relief provisions Here’s what you need to know about the Paycheck Protection Program (PPP) loans and other business relief provisions of the recently-passed American Rescue Plan Act. PPP loan application deadline extended. The deadline to apply for PPP loans is now May 31, 2021. Sick leave extended. If your business provides […]
New Tax Breaks Benefit Millions
What you need to know The recently-passed American Rescue Plan Act contains several tax breaks for you and your family. Here are the major provisions of the bill that could mean more money in your pocket during the 2021 tax year. Child tax credit (CTC) The CTC for 2021 increases from $2,000 to $3,000 for […]
ALERT! Late Tax Legislation Creating Havoc
Individual tax return deadline moved to May 17 Congress’ recent move to retroactively make a portion of 2020 unemployment income tax-free is creating havoc during this year’s tax filing season. Here is what you need to know. Background Unemployment compensation was received by millions of Americans during 2020 because of the pandemic. While unemployment income […]
Non-Compete Agreement Enforcement in Massachusetts: What You Need to Know
In many industries, non-compete agreements are a standard part of employee contracts. However, until subject to such an agreement, or until responsible for enforcing it, most people will not give a non-compete clause a second thought. Whether you are seeking to enforce a non-compete agreement against a former employee, or whether you have been subjected […]
SEC expands accredited investor definition
In order to participate directly in private equity markets, individuals must meet the Security Exchange Commission’s definition of an “accredited investor.” Now, new rules have expanded that definition, opening a few more opportunities for investment in private equity and hedge funds. Previously, requirements were based largely on financial status. An individual needed an annual income […]
