MBA News

The “sandwich generation” is a large segment of the population. These are people who find themselves caring for both their children and their parents at the same time. As a result, estate planning — which traditionally focuses on providing for one’s children — has expanded in... Continue Reading

Construction is a risky business with typically slim profit margins. Most contracts, as well as simple common sense, dictate that contractors carry various forms of business insurance. Still, there’s no reason to pay unnecessarily high premiums just to obtain adequate coverage.... Continue Reading

When it’s critical to revise your estate plan There are few events that can completely upend a person’s life more than divorce. Of course, there’s the emotional toll on you and your family to contend with, but you also have to consider the divorce’s impact on your estate plan.... Continue Reading

Can you imagine using a computer from the 1960s to run your business? Of course you can’t. But many U.S. merchants and banks still use payment cards with magnetic strip technology that’s more than 50 years old. On October 1, a liability shift goes into effect that may... Continue Reading

Teenagers’ retirement may seem too far off to warrant saving now, but IRAs can be perfect for teens precisely because they’ll likely have many years to let their accounts grow tax-deferred or tax-free. The 2015 contribution limit is the lesser of $5,500 or 100% of earned income.... Continue Reading

If your college-age child is or will be receiving financial aid, congratulations. Now, you’ll probably want to know if the financial aid is taxable. Keep in mind that the economic characteristics of financial aid, rather than how it is titled, will determine its taxability.... Continue Reading

If you’ve done some gambling, you may need to know about the applicable federal income tax rules. They can be summarized as follows. You must report 100% of your wagering winnings as taxable income on your Form 1040. The value of complimentary goodies (“comps”) provided by... Continue Reading

The rules for required minimum distributions (RMDs) can be bewildering, frustrating and potentially expensive to retirement savers and their beneficiaries. And taking — or not taking — RMDs can have a substantial impact on your tax liability. Distributions generally will be... Continue Reading

On July 31, President Obama signed a law that provides a three-month extension of the Highway Trust Fund (HTF). The Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 came just in the nick of time — the HTF was set to expire on the same day. The... Continue Reading