FSA vs HSA vs HRA: Which One is Better?

KEY POINTS The 3 most popular employer-sponsored healthcare accounts you can supplement your current healthcare insurance with are Flexible Spending Accounts (FSA), Health Savings Accounts (HSA), and Health Reimbursement Accounts (HRA). FSAs, HSAs, and HRAs all offer tax-free savings that you can use to pay for eligible medical, dental, vision, and sometimes long-term care expenses. …

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Are Your Retirement Assets Protected?

Person sitting at the end of a dock on a large lake

For many, asset protection is an after-thought, if thought about at all. Are you aware that retirement accounts such as Individual Retirement Accounts (“IRAs”), 401(k)s and Defined Benefit (“DB”) plans receive protection from creditors and bankruptcy? Asset protection is often associated with high-net-worth individuals, business owners, professionals such as doctors, surgeons, attorneys, and CPAs, as…

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Pension Contributions & Lower 2017 Taxes

Close up of person placing coins into a jar labeled Pensions

Did you know that you can deduct pension contributions made by September 15, 2018 from your 2017 taxes? In most years that helps with managing cash flows, but this year it could have major tax consequences. With the corporate tax rate decreasing for most companies from 35% in 2017 to 21% in 2018, deducting pension…

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Cybersecurity & Business Continuity

You’ve no doubt heard about the worldwide outbreak of “ransomware” from the WannaCry malware attack that crippled computers, networks and organizations. Hopefully your business hasn’t been impacted, but it provides a great reminder of the importance of maintaining your computer networks and keeping them up-to-date. This particular malware targeted legacy Microsoft systems such as Windows…

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5 Tips For Improving Your Business

Jack Mitchell is a motivational speaker, a second-generation owner of a family clothing business, Mitchells Family of Stores, and the author of Hug Your Customers—a NY Times best seller that details philosophies that may be implemented in settings well beyond retail businesses. Here are our key takeaways from Hug Your Customers: Know Your Customers The…

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Alert! TX judge blocks DOL overtime rule from taking effect

As many employers have struggled with new DOL overtime rules slated to take effect on December 1st, a federal judge has just imposed a preliminary injunction to prevent them from taking effect. Given the upcoming change in Administration as well as the Judge’s opinion that the plaintiffs are likely to succeed on the merits, it’s unlikely the…

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