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When was the last time you checked your beneficiary designations for your retirement accounts that were established years ago? Beneficiaries are the individuals or entities (such as a charity) that you name to receive these assets upon your death. You may find that your designated beneficiary is not who or what you think it should be, especially if you have divorced, remarried or had children since your retirement plan … Continue reading »
Deciding whether to open an IRA or a Roth IRA is a major decision with potentially large financial consequences. Both forms of the IRA are great ways to save for retirement, although each offers different advantages and rules.
Employers must make a determination whether someone who works for them is an employee or an independent contractor.
To assist them with this, the IRS has issued the “Twenty Factor Test”. Here are the tests an employer applies in order to help make this determination:
The first half of the year is in the books. It's time to take a look at your withholding and estimated tax payments. Why is this important? To avoid any potential penalty for underpayment of estimated taxes.
This is "Shark Week" on the Discovery Channel. We are (not so gently) reminded not to swim with the sharks.
For the self-employed in Connecticut, every week is "Shark Week". A self-employed person is someone who runs their business as one of the following entities: