Single Point of View
Single Point of View is our way to occasionally share planning ideas relating to personal finance. Our goal is to pass along concepts that you may not be exposed to on a daily basis.
Tax Laws for Household Employees
When a family hires an individual to perform duties in or around their home, they are considered a “household employer.” The IRS views the worker — whether a nanny, health aide, housekeeper, gardener, cook/chef, personal assistant, estate manager, etc. — as an employee of the family. Misclassifying an employee as an “independent contractor” is considered tax evasion.If a household employee [...]
Earned Sick Time Safe Harbor for Employers
July 1 is fast approaching for businesses impacted by the new Earned Sick Time Law. However, the Attorney General is issuing a safe harbor to afford some businesses until January 1, 2016 to come into full compliance. If you already provide employees with paid time off, this may be of use to you. If you have specific questions, we recommend [...]
Medicare Premiums to Increase for High Income Beneficiaries
New legislation that was recently passed, known as the "Doc Fix" also has provisions that will change the income tiers for Medicare premiums beginning in 2018 (based on your income from the 2016 tax year). While this is not the focus of the new law (Medicare Access and CHIP Reauthorization Act of 2015) it is one component of it that [...]
How Budget Proposals Could Impact Your Estate Planning
President Obama’s recently published FY2016 budget includes several tax proposals which, if enacted, would significantly affect the estate planning landscape.Our friends at Pabian & Russell, LLC, a respected Boston law firm practicing in the areas of Elder Law, Corporate Law, Estate Planning and Taxation, have written a great overview of these proposed changes and the impact they could have on [...]
The Value of Peace of Mind
We help people analyze decisions that impact their financial future everyday. Often times, the analysis that goes into making a financial decision is focused on what will have the most positive impact on your bottom line. However, we are often reminded that the choice that may have the "best result" from a financial standpoint is not necessarily the one that [...]
Save On Your Electric Bill
It's Sunday, which means another snow storm in Eastern Massachusetts. As I listen to our apartment's forced hot air fan turn on again, I can't help but think about my electric bill. Last month, we were victims of, "yes I know rates are going up, but really, how much could it impact us?" Well, it did. Combine the winter weather [...]