by Ruckertax | May 9, 2014 | Life Insurance |
How much life insurance do you need? What type is appropriate? You should review your life insurance needs each time you have a major life event. Here is what you need to know to properly plan for your life insurance needs-to buy enough and to get the most for your money. Do You Need Life Insurance? How Much Life Insurance Do You Need? Types Of Insurance How Insurance Products Differ How To Shop For Insurance Shopping For A Policy Government and Non-Profit Agencies The prospect of planning for your family’s life insurance needs may seem daunting. The array of confusing products available, coupled with the calculations needed to find the right amount of insurance, would put anyone off. Yet the hard fact is that life insurance is an essential part of your family’s financial well-being. The more you know about it before you go to your agent, the better your coverage will be. If you don’t plan for your life insurance needs, the result could be a waste of thousands of dollars on inappropriate or ineffective life insurance or, worse, financial hardship due to not having enough insurance. We’ve tried to make the process of buying life insurance easier and more informed by providing you with objective, unbiased information and a plan of action. This Financial Guide gives you some basic guidelines about whether and when you should purchase life insurance, and provides you with a system for determining how much you need. It also discusses the types of insurance available, their suitability for various situations, and how to comparison shop for a policy. DO YOU NEED LIFE INSURANCE?...
by Ruckertax | May 5, 2014 | Featured-on-home-page, Uncategorized |
A good business structure is the first step to reducing risk and paying less taxes. An LLC is not a tax structure. There is no such thing as an “LLC Tax Return”. The LLC can elect to be taxed as an S-Corporation, Partnership, or any other structure. If no election is made and you are the sole owner, you will be treated as a sole proprietorship. If there are multiple members, you will be treated a…s a general partnership by default. The sole proprietorship (Schedule C) is a bad business structure. It puts everything you own at risk and subjects you to an excess tax of 15.3 percent self-employment tax on all net income. You are also taxed at the individual rate as well. If you own a business...
