Do you need to know if a procedure is covered by Medicare? There’s an app for that. Medicare has launched a free app, called “What’s Covered,” that gives beneficiaries a quick way of determining if the program covers a medical item or service. The app offers information on what is covered under Medicare Parts A and B and provides details on basic costs. It includes a list of covered preventive services. It does not, however, provide information
We’ve all heard that it’s better to give than to receive, but if you think you might someday want to apply for Medicaid long-term care benefits, you need to be careful, because giving away money or property can interfere with your eligibility. If you transfer certain assets within five years before applying for Medicaid, you will be ineligible for a period of time under federal Medicaid law, depending on how much money you transferred. This is
When leaving a home to your children, it is possible to avoid probate by using either joint ownership or a revocable trust, but which is the better method? If you add your child as a joint tenant on your house, you will both have an equal ownership interest in the property. If one joint tenant dies, his or her interest immediately ceases to exist and the other joint tenant owns the entire property. This has the advantage of
Identity thieves are very active right now Countries and citizens around the world are banding together to defeat the coronavirus. While your attention is concentrated on protecting your family, friends and community, identity thieves are seeing an opportunity to swipe your confidential information. Very few things in life create a higher degree of stress and hassle than having your Social Security Number (SSN) stolen, especially during a pandemic like we are now experiencing. This is because,
Spring cleaning for your business should include cleaning up your general ledger With spring now here, it’s natural to start thinking about doing some spring cleaning. But don’t limit the cleanup effort to your house — your business’s accounting system and general ledger needs cleaning, too! Here are five areas of your financial statements that may be due for a spring cleaning: Inventory. Inaccurate inventory on your balance sheet can have grave consequences. If your balance
A clever new way to save… With close to 85% of purchases made with credit or debit cards, many people have forgotten the satisfying clinking sound of tossing a penny, nickel, dime or quarter into a glass jar of spare change. But all that is starting to change! Clever new savings ideas In today’s world of smartphones, several apps have digitized yesterday’s jar of coins by sweeping electronic spare change into a digital jar to increase
Take this trivia quiz and test your state tax knowledge! Here’s a quiz to test your state tax IQ and give you some fun facts about the taxes paid by friends in other states. Thinking about buying a new house? Which state has the highest property taxes? a. Texas b. New Jersey c. Illinois d. New Hampshire b. New Jersey. Unlike most states, New Jersey does not allow counties and cities to impose their own sales
Families First Coronavirus Response Act provides worker benefits The Families First Coronavirus Response Act is a new program that offers COVID-19 assistance for both employees and employers. This new law provides businesses with fewer than 500 employees the funds to provide employees with paid leave, either for the employee’s own health needs or to care for family members. Here are the details of the new law’s benefits: Paid Sick Leave for Workers: The new law provides
The April 15 federal income tax filing due date has been moved to July 15, the U.S. Treasury Department and IRS recently announced. Here is what you need to know: The due dates for all tax payments normally due April 15 have been pushed back 90 days to July 15, regardless of the amount owed. This applies to all taxpayers, including individuals, trusts and estates, corporations and other non-corporate tax filers as well as those who
This month: April 15 (Extended to July 15) – Individual tax returns due – C corporation tax returns due – First-quarter 2020 estimated tax due April 12 – Easter Sunday The IRS rolled out deadline extensions and new programs to help individuals and businesses navigate the COVID-19 pandemic. A recap of these announcements is included here for your review. Also in this month’s edition is an interesting tax quiz to see if you can guess
Attorneys licensed to practice in Florida | Massachusetts | New Hampshire
Business Law | Civil Litigation | Elder Law | Estate Planning | Family Law | Probate & Trust | Real Estate | Tax
