Author: RLT-Haley

Reflecting the changes occurring in our current economic times

To avoid the nondiscrimination testing applicable to 401(k) plans and possible reductions of the amounts that a highly compensated employee ("HCE") could defer for a plan year, employers may structure 401(k) plans as "safe harbor plans.

Traycee Home Care Partnership

The need for home, facility, private duty, & nanny care services are growing exponentially daily. In addition, to funding these expenses (which are not covered by any governmental program), getting advice as to where to go and who to use

Court Rules That Section 419A(f)(6) Plan Sponsor Made Taxable Distribution of Life Insurance Policies

The Second Circuit upheld a Tax Court decision that the insured taxpayers, a husband and wife, received a taxable distribution of life insurance policies from a Section 419A multi-employer welfare benefit plan.

Non Qualified Plans-A Great Compensation Component for your Business

A need for more revenue sources has led to a growing trend among states to attempt to tax retirement income paid to current nonresidents based on amounts previously earned in that state

IRS Advice Suggests Caution in Planning with Self-Canceling Installment Notes (SCINs)

A SCIN is a promissory note that includes a self-cancelation feature relieving the borrower of any future payments if the seller dies during the note term.

When Term Life Policy Proceeds Are Community Property

The California appellate court held that the characterization of term life insurance policy death proceeds as community or separate property depends, not only on who paid the final premium (i.e., was it paid with separate or community funds), but also on other factors such as (1) the insurability of the insured and (2) whether the amount of the final premium payment is capped or otherwise discounted against the current market cost of comparable coverage.