Most people think an estate plan is for managing what happens to your assets after you pass away. That's an estate plan's primary purpose, but it's not the only purpose. You can also use your estate plan to manage a substantial risk that you could face near the end of your life. It's called incapacitation, and it's the inability to make or communicate decisions due to your physical condition. Incapacitation is often caused by cognitive diseases like Alzheimer's, but can also happen as a result of strokes, heart attacks, cancer, and more.
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Starting A Business? 3 Basics To Understand About Payroll
If you are starting a business, you want to make sure that you understand the basics about payroll, such as what it is, what taxes you should collect, and how payroll services can help your business with this essential task.
#1 Understanding What Payroll Is
The first thing that you need to do is understand what payroll is. Payroll is the process of paying the salaries for each individual that works for your company.
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3 Ways To Start Planning For Your Future In Your 30S
When you reach your 30s, you should no longer just be planning for the present, you should be planning for the future. Planning for the future means that you are making financial decisions that will benefit you down the road, and not just in the present. It is time to let go of instant gratification and start planning for the long-term.
#1 Start That Savings Account
It can be hard to talk about investing in your future when you do not even have a savings account.
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Have To Pay Estimated Taxes? 4 Ways To Avoid IRS Penalties
If you're a small business owner or entrepreneur, you already know that you have to set aside and pay your own income taxes. But how much should you pay and when? While estimating your income can be difficult, the IRS does provide some guidance to make tax payments a little easier. Here's a guide to how to use that guidance to avoid penalties.
1. Use Last Year's Taxes. The IRS rules generally expect you to contribute estimated payments equal at least to 100% of the prior year's income tax liability.
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