General
OPPORTUNITY ZONES DURING COVID-19
What Are Opportunity Zones? Opportunity Zones (OZ) are part of the 2017 Tax Cuts and Jobs Act. Congress introduced Opportunity Zones as an innovative approach to spark long-term private investments in low-income communities. They used tax relief as an incentive for individuals to invest capital gains income. Relief comes in the form of deferral, reduction,…
Read MoreWhat Is a Buy-Sell Agreement?
What Is a Buy-Sell Agreement What is a buy-sell agreement? A buy-sell agreement allows for the mandatory purchase of an owner’s interest in the business. Purchasers may include shareholders and/or the business itself. The 5 D’s The events that trigger a buy-sell agreement include the 5 D’s: 1) Death 2) Disability 3) Disagreement 3) Divorce…
Read MoreWHAT’S YOUR LEGACY?
What Legacy Will You Leave When You’re Gone? When you think about the legacy you’ll leave, what comes to mind? When you’re no longer on this earth, what kind of impact will you have on your Family? Community? Perhaps it’s security for your family or a monetary contribution to your community. It could also…
Read MoreSPLIT DOLLAR TAX PLANNING: A RETIREMENT PLAN FOR KEY EMPLOYEES AND HIGH NET WORTH EXECUTIVES
SPLIT DOLLAR TAX PLANNING What is a Split Dollar Plan? Employers offer a Split Dollar Plan as a death benefit to Key Employees as an incentive for them to stay on with the Company for a longer period of time. This involves the purchase of cash value life insurance. The “Split” in Split Dollar Plan…
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