When many people hear the words “asset protection,” they think of billionaires with Swiss bank accounts and offshore tax havens. But in reality, asset protection is for everyone. It’s simply a series of basic techniques you can use to help ensure that the wealth you’ve accumulated stays with you and your heirs, and not someone else. Hard-earned wealth can quickly disappear as a result of a lawsuit, a business going under, or a similar event. Asset
Many businesses have a buyout agreement that says that if one owner retires or resigns, the others can buy out his or her interest at a certain price. These agreements are a smart idea for retaining control of a company. But you should keep in mind that they can sometimes be used in ways you wouldn’t expect.
If you provide bonuses, awards, gifts or prizes to employees or customers, it’s important to understand the tax consequences. It’s particularly important if the recipient is going to have to pay a tax – you’ll want them to understand this fact from the start, so they don’t get an unpleasant surprise later. In general, any gifts made by a company to an employee are considered wages. They’re subject to both employment tax and income tax, and
The Duluth Trading Company was looking for a way to promote its men’s Henley-style collarless polo shirts. It thought of Don Henley, the lead singer of the Eagles, whose first big hit in 1974 was called “Take It Easy.” So it created an ad that said, “Don a Henley and take it easy.” Result: The company got sued – by Don Henley.
Companies that are leasing their own space for the first time are often surprised by the terms of a commercial lease – and even companies that have leased space before sometimes overlook important points where they might be able to negotiate matters to their advantage. Here’s a quick guide to what to look for:
The National Labor Relations Board has adopted new, “streamlined” rules for union elections that create additional requirements for businesses and could dramatically shorten the time between when a union files a notice and when a vote is held. Union elections could now be held as little as 13 days after a union files a petition. This means companies will have to scramble to meet very short deadlines, and may have little or no time to respond
When planning gifts for children on your holiday list, you might want to think beyond the traditional retail offerings. Consider financial gifts that can bestow benefits for many years to come. Some financial gift options you might consider:
Good customer service leads to repeat sales and referrals, which lead to higher revenues and profits. The result is a stronger, more secure business. Your sales staff knows this well. Their results are directly affected by customer perceptions. Other employees, such as those in support and back office functions, may not think of themselves as serving the customer. But every employee has an impact, direct or indirect, on customer experience. An incorrect shipment, a late delivery,
That ticking you hear is the tax clock winding down – quickly. There is only a very short time left to cut your taxes for 2015. Here are moves you can still make before year-end.
A woman who received part of her ex-husband’s civil service pension at divorce was also entitled to share in his later cost-of-living adjustments, the Kentucky Court of Appeals recently decided. When the couple divorced, the pension was divided equally between the husband and wife.
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