Internal Revenue Code Section 409A (Governing Nonqualified Deferred Compensation Plans) What is Internal Revenue Code (IRC) Section 409A? IRC Section 409A, added by the American Jobs Creation Act of 2004, is the first comprehensive legislation aimed squarely at employer nonqualified deferred compensation [more...]
Jan 282012
Jan 282012
Custom Benefit Plans for Key Personnel A top-hat plan is a type of nonqualified deferred compensation (NQDC) plan that is established to provide unfunded (employers don’t formally set aside funds for these benefits; instead, they use their general assets) deferred compensation [more...]
Jan 242012
The Internal Revenue Service has raised the income-tax deduction limit for Long Term Care (LTC) policy premiums that are paid in 2012. As in the past, the deduction varies by age of the insured person— for example, someone who is between 50 [more...]
Jan 192012
Calculating Cost Basis Gets Easier This Year Brokers must track and report cost basis to both you and the IRS Anyone who has ever been baffled by calculating the net proceeds from the sale of an investment will find some relief, starting [more...]
Aptly Named: “Emancipation Day” Taxpayers will have until Tuesday, April 17, to file their 2011 tax returns and pay any tax due because April 15 falls on a Sunday, and Emancipation Day, a holiday observed in the District of Columbia, falls this [more...]
You might be surprised to hear that the Securities and Exchange Commission has published one of the most helpful articles on asset allocation. As you probably know, asset allocation is one of, or perhaps the most important determinants of long-term investing success. [more...]
Every year brings some financial change, so here are some relevant changes relating to investment, tax and estate planning for 2012. Retirement plans. 401(k), 403(b) and 457 plan annual contribution limits rise slightly to $17,000, and you can contribute an additional $5,500 [more...]
Jan 072012
Health savings accounts (HSAs), Archer medical savings accounts (MSAs), health reimbursement arrangements (HRAs), and flexible spending arrangements (FSAs) are all personal health accounts that may help you control your health-care costs. But trying to figure out what’s what can be confusing. Here’s [more...]
Life Insurance Policy Loans: Tax and Other Implications As the owner of a life insurance policy, you can generally borrow the policy’s cash surrender value and use the proceeds for any purpose. Before you take a policy loan, be sure you understand [more...]
Jan 032012
U.S. STOCKS HELD UP RELATIVELY WELL IN 2011 It was a weak year for equities, but foreign markets had it worse. 2011 had a definite downside. Statistically, 2011 may end up being characterized as the year stocks stood still: the S&P 500 [more...]
