Biden’s proposed Build Back Better plan would require approximately $7 trillion. Such an astounding amount of revenue most likely means a surge in taxes. Biden’s policy front is zeroed in on high-income taxpayers, and yes, that includes corporations and estates. You might want to plan ahead to minimize legal and financial repercussions arising from these proposed changes. From increased business taxes to lowered itemized deductions, here is an outline of Biden’s economic plans.
Superheroes never die, they just fade away. Chadwick Boseman’s Black Panther legacy will surely live on for years to come. However, with the court currently probing into his million-dollar estate, King T'Challa might be remembered differently by the public. Apparently, the actor died without completing estate arrangements causing his widow to petition to be named administrator. As sad as it sounds, Boseman is one of many celebrities who neglected to create a detailed and thorough estate plan.
With record-breaking 80 million votes, Joe Biden is well on his way to the White House. When he finally takes over in 2021, there will be key changes to watch out for especially in the tax landscape. Biden is set to inherit a battered economy so he is essentially focused on increasing revenue from taxes. As estate owners, now is the perfect time to update your existing estate plan in preparation for a massive political realignment next year. Here are the probable major economic shifts for 2021.
While estate planning is probably one of the last things your teenage kids are thinking about, given the dire threat coronavirus represents, when they turn 18, it should be their and your number-one priority. At 18, they become legal adults in the eyes of the law so you no longer have the authority to make decisions regarding their health care & finances if something happens to them. While you can't totally prevent your child from any unforeseen maladies, you can put a plan in place to assure th
2020 saw the passing of one of Marvel’s greatest superheroes, The Black Panther, King T’Challa. After four years of box office hits and hospital treatments, Chadwick Boseman has succumbed to colon cancer, ending a stellar career and leaving a million-dollar estate behind. However, it turns out that Boseman died without a will. Though this is a fairly common occurrence, such a situation has legal consequences that might take ages to resolve. Not to mention costly and even distressing.
The staggering events of 2020 have greatly affected each person’s overall mental and emotional health. Faced with sudden changes such as sickness, loss, or unemployment it is difficult to stay positive. No pun intended. However, this may be an opportunity to invest in your most important asset—yourself. It is a time of unearthing your skills and talents that may have been stored away all this time. As each person is unique you surely have something to offer that nobody else could. You could be t
The coronavirus outbreak has most business owners on their toes. The constant emphasis on the slightest human interaction through skeletal arrangements results in taking in more tasks on your already full plate. From implementing safety measures to protect your employees, formulating strategies to mitigate the outbreak’s impact, to finding ways to generate more revenue — you feel the need to do it all. Here is some advice on how to navigate the volatile business environment in the new normal.
Keeping tabs on the latest developments in public health is vital in reopening your business especially during these dire times. Non-compliance and possible lawsuits are no-no in an already risky business environment. The EEOC's issuance of guidance on antibody tests is one of those developments you should take note of.
COVID 19 has complicated most things that have to do with business, and that includes the rules about granting sick leave to employees. While there are similarities between FFCRA and FMLA, there are certain conditions accepted only under FFCRA. Knowing these conditions can help you create healthcare policies that would best benefit your employees without compromising your "new normal" business operations.
The California Senate passed AB5 that addresses the “employment status” of workers when the hiring entity claims the worker is an independent contractor and not an employee. If you are an independent contractor in California, there are some steps you can take immediately to bolster your position as an independent contractor. Read here to learn more and understand its applicability to you, as either an independent contractor or a business owner who hires independent contractors.