Put Compensation Front and Center

In theory, a compensation philosophy is a formal written statement that reveals the company's stance on employee pay and rewards. Compensation philosophies vary from company to company. However, they often involve addressing the "what," "why," "how," "how much" and...

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What’s New With the Kiddie Tax?

The kiddie tax — around since 1986 — came about as an effort to close a tax loophole for the wealthy. The idea was that taxing children's passive income at the same rate as their parents would eliminate a sneaky reallocation of money just to avoid taxes. Since the...

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What Is an HECM Reverse Mortgage?

Not all reverse mortgages are the same. The home equity conversion mortgage, insured by the federal government, is available only through a Federal Housing Authority-approved lender. For homeowners 62 years of age or older with significant equity in a home, an HECM...

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How to Decode Box 1 of Form W-2

Box 1 of Form W-2 shows the employee's total compensation that is subject to taxation for the year. Per an article published by Forbes, "This tends to be the number most taxpayers care about the most." Consequently, there's no room for error.   Below are...

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What Is Probate — and How You Can Avoid It

Few things are as traumatic as dealing with the death of a loved one. Just as we're experiencing pain, legal issues hit us: Insurance companies, reading the will, investments — suddenly it's overwhelming. And perhaps the most difficult issue is probate. Probate? It's...

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