Tips for charging rent to your adult child

In some ways, it might seem great to have your adult child move home and spend more time with you. Or maybe you never expected it to happen, and suddenly the child you thought was moving on is at your doorstep. No matter how you feel about it, here are some tips on charging your […]

U.S. Supreme Court says yes to immediate takings claim

In a big change affecting property owners, the U.S. Supreme Court has ruled that people whose land is taken for public use without payment may, as soon as the property is taken, file federal lawsuits for constitutional violations of property rights. The high court revisited the question of whether property owners have standing to bring […]

Tips for protecting yourself from real-estate wire transfer fraud

Real estate transaction cybercrime is on the rise. According to The Wall Street Journal, hackers have targeted email accounts belonging to the parties in transactions, such as real-estate professionals, lawyers, and title agents, devising custom scams specific to the deals. Profits from sales are then diverted from intended recipients to the hacker’s bank account. It […]

What are my Massachusetts business income tax obligations?

How a business is taxed depends in part on the business’s legal form. The five most common types of Massachusetts businesses include corporations, S corporations, Limited Liability Companies (LLCs), partnerships, and sole proprietorships. Most states subject corporations to a corporate income tax. In contrast, pass-through entities such as S corporations, LLCs, partnerships, and sole proprietorships […]

Drafting a power of attorney that reduces the chances of abuse

A power of attorney is one of the most important estate planning documents you can create, but it is also one that can be misused. While it isn’t possible to entirely prevent the possibility of abuse, there are steps you can take in drafting the document to greatly reduce the chances. A power of attorney […]

Four Social Security myths debunked

There are a lot of misconceptions surrounding the Social Security system. Here are four common myths and the facts about how Social Security works and its future prospects. Myth 1: You should collect benefits early. This is one of the biggest Social Security myths. Beneficiaries can start taking retirement benefits as early as age 62, […]

Don’t make the mistake of not signing up for Medicare supplemental coverage

If you are turning 65 and enrolling in Medicare as a healthy senior, do you really need to sign up for Medicare’s supplemental coverage as well? Not signing up initially could be very costly down the road.  With all the deductibles, copayments and coverage exclusions, basic Medicare pays for only about half of all medical […]

Should you prepare a Medicaid application yourself, or get help?

A decision on whether to prepare and file a Medicaid application on your own or hire help depends on answers to these questions: How old is the applicant? How complicated is the applicant’s financial situation? Is the individual applying for community or nursing home benefits? How much time do you have available? How organized are […]

2020 Retirement Plan Limits

As part of your 2020 planning, now is the time to review funding your retirement accounts. By establishing your contribution goals at the beginning of each year, the financial impact of saving for your future should be more manageable. Here are annual contribution limits: Retirement Plans 2019 2020 Change Age 50 or older catch up […]

The Highest Taxed Money in America

How the lottery preys on Americans If you were told to voluntarily pay 75% of your wages to government-sponsored programs for the rare chance of getting everyone else’s remaining 25%, would you do it? Most everyone enjoys dreaming of winning it big in the lottery. Large pots of money are publicized on the evening news […]