(A)ESOP's Fables - The Income and Estate Tax-Free ESOP
Family Affair - Introducing Family Office Life Annuity (FOLA)
TAKE A CHANCE ON ME! Tax Planning During the Biden Administration
NOWOTNY KNOWS SQUAT! Part IV Using Post-Retirement Medical Plans to Raise AUM and Sell Life Insurance
NOWOTNY ON DEATH AND TAXES EPISODE 35 USING POST-RETIREMENT MEDICAL PLANS TO RAISE AUM
NOWOTNY KNOWS SQUAT! Part 2 Using PPLI and PPVA Annuities to Raise Assets Under Management and Sell More Life Insurance
INTRODUCING MALTA SPLIT DOLLAR
WHERE EAGLES DARE-INTRODUCING MALTA SPLIT DOLLAR
THE ACCIDENTAL ENTREPRENEUR PART V video
THE ACCIDENTAL ENTREPRENEUR PART V Podcast
THE ACCIDENTAL ENTREPRENEUR PART IV
THE WONDER YEARS WEBINAR
THE ACCIDENTAL ENTREPRENEUR PART III
THE ACCIDENTAL ENTREPRENEUR
WHERE HAVE YOU GONE, CHIP HILTON?
The SECURE 2.0 Act of 2022 (“SECURE 2.0”) made numerous changes to the complex web that makes up U.S. retirement plan laws. Of interest to S corporations that may be considering an employee stock ownership plan (“ESOP”) is...more
In addition to employer-sponsored retirement accounts such as 401(k) and 403(b) plans, many people choose to save additional retirement assets in Individual Retirement Accounts (IRAs). Regardless of your stage in life, it is...more
Get Ready For The New Year Ahead - Employees can contribute more pre-tax dollars next year to their retirement savings accounts, including 401(k) and 403(b) plans, according to an IRS announcement made on November 1. Your...more
As a matter of plan design, for purposes of matching contributions some 401(k) plans provide that a participant’s compensation for the entire plan year is taken into account (regardless of whether the participant makes...more
The Internal Revenue Service recently announced its cost-of-living adjustments applicable to dollar limitations on benefits and contributions for retirement plans generally effective for Tax Year 2023 (see IRS Notice...more
The House of Representatives recently passed The Securing a Strong Retirement Act of 2022 (H.R. 2954), also known as the “Secure Act 2.0,” which would expand and encourage retirement savings by an overwhelming vote of 414-5....more
On January 10, 2022, teachers will be able to begin submitting applications to the Illinois Teachers’ Retirement System (TRS) to participate in TRS’s new Supplemental Savings Plan (SSP) which is a tax-deferred compensation...more
It is said that two things are certain in life: death and taxes. True, but incomplete. What is missing from this short list is a third inevitable occurrence – tax law changes. We now have a new and pressing series of proposed...more
I love the idea of a Roth 401(k) and if you could afford to lose the tax deduction of a 401(k) deferral and you have enough of a horizon before you retire....more
Gerry discusses 401(h) post-retirement medical plans. These are ancillary benefits that snap onto defined benefit or money purchase plans. This is a powerful benefit you should be discussing with your clients!...more
In episode #35 of Nowotny On Death and Taxes - Nowotny Knows Squat! Using Post-Retirement Medical Plans to Raise Assets Under Management and Sell Life Insurance; this podcast focuses on the 401(h) plan. This strategy provides...more
The rules around required minimum distributions from retirement accounts are confusing, and it’s easy to slip up. Fortunately, if you do make a mistake, there are steps you can take to fix the error and possibly avoid a stiff...more
Structuring the family business. This is a solution for every taxpayer to triple a Roth contribution. #assetprotection #estateplanning #retirementplanning #employeebenefits #entrepreneur #taxplanning...more
Nowotny On Death and Taxes episode #26, The Accidental Entrepreneur Part IV - Creating the Family Pension Plan speaks to a solution for every taxpayer to triple a Roth contribution....more
Under IRS Notice 2020-50, employers sponsoring nonqualified deferred compensation plans (NQCD plans) may now allow employees to suspend their deferral elections without having to determine whether the employee has had an...more
On December 20, 2019 the “Further Consolidated Appropriations Act, 2020” became law. As part of the Act and in part to pay for the over 1.7 trillion in spending that the Act contemplates, Section “O” sets forth the Setting...more
Financial assistance and other relief provided to employers under the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act) will have a short- and long-term impact on employee benefit plans in mergers and...more
Both the SECURE Act and CARES Act are filled with important changes related to estate planning. The Secure Act (Setting Every Community Up for Retirement Enhancement Act), enacted in December of 2019, carries significant...more
On March 27, 2020, the Coronavirus Aid, Relief and Economic Security Act (the “CARES Act”) became law. We have already provided a summary of the provisions of the CARES Act relating to expanded small business loan...more
The President recently signed into law the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act” or “the Act”). The following summarizes key tax provisions. Business Tax Provisions - Employee Retention...more
This client alert summarizes recent federal tax changes that are intended to provide relief to businesses and individuals impacted by the coronavirus (“COVID-19”) epidemic, including changes effected under recent IRS...more
The landmark 335-page Coronavirus Aid, Relief, and Economic Security Act (CARES Act), signed into law on March 27, 2020, is an estimated $2+ trillion package primarily devoted to providing economic relief and stimulus for...more
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) became law on March 27, 2020, providing financial assistance to individuals and businesses impacted by the COVID-19 pandemic, as previously discussed in our...more
A December 27, 2019 post to this blog by Jon Nason provided an overview of the many changes affecting retirement plans made by the SECURE Act, which was enacted as part of the Further Consolidated Appropriations Act of 2020...more
Employers must issue Form W-2, Wage and Tax Statement, to employees by January 31st, so you should have received yours by now. But have you ever actually stopped to look at your W-2? And do you know what it all means? Your...more