The Standard. A trustee must manage a trust according to a “prudent person” standard. A trustee is a fiduciary, which means the trustee’s actions must be in the best interests of the [...]
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On December 18, 2015, the Senate passed a $1.1 trillion tax package with over $600 billion in tax breaks. Please find below the changes that made Santa’s nice list. Affordable Care Act [...]
As the end of the year approaches, it may be prudent to consider making gifts and taking advantage of annual gift tax exclusions. For 2015, an individual is permitted to gift $14,000 per [...]
You receive a call at home telling you this is your final notice from the IRS and that the IRS is going to file a lawsuit for taxes owed. This call is a scam. The IRS will never telephone you [...]
The City of Pittsburgh has a new paid sick leave Ordinance which will require all employers that are situated or conducting business in Pittsburgh to provide paid sick leave to all full-time and [...]
Employers, employees and even equity holders should be mindful of company property ownership interests upon the employee or stakeholder’s separation from the company. A typical provision in a [...]
Withdrawing From a MEC Owned by a Life Insurance Trust The tax code limits the use of tax benefits of life insurance to accumulate cash with a small insurance benefit. Funding a cash-rich life [...]
This month the Department of Labor announced a proposed rule change that will provide overtime pay to lower-salaried employees. Currently, the Fair Labor Standards Act permits companies to [...]
Non-competition agreements serve to protect from misuse by a former employee the hard-earned goodwill and customer relationships an employer has developed. However, courts impose strict [...]
Irrevocable life insurance trusts (ILITs) are designed to keep life insurance from being subject to estate tax in the insured’s estate. However, the trust must be precisely drafted and [...]
