Owning a small business and living in the land of “entrepreneurial bliss” can prove rewarding, yet challenging. I have counseled many small business owners and advise them of three areas of their business that need constant attention: insurance, accounting and marketing. These areas should not be delegated to an employee or independent professional without the owner’s consistent oversight. Being educated, informed and pro-active in these areas can protect the owner, […]

Pension plans are quickly disappearing in both the public and private sectors.   As a result, traditional Individual Retirement Accounts (IRAs) and defined contribution plans under Section 401(k) of the Internal Revenue Code (401ks) will most likely become the most significant assets in many estate plans. These assets are typically “qualified,” meaning that the money is deposited into these retirement accounts on a pre-tax basis, with the income taxes being collected upon […]