What types of companies are in the automotive sector besides auto manufacturers?

June 30, 2024 No Comments

A: The automotive sector includes several types of companies besides auto manufacturers. Some of these companies focus on the component parts that go into cars and trucks. Other companies are responsible for vehicle sales, rentals or repairs. Three kinds of companies manufacture parts used in

What types of companies are in the automotive sector besides auto manufacturers?

July 7, 2024 No Comments

What types of regulations are in place regarding fringe benefits?

June 30, 2024 No Comments

A: Government influence on non-salary employee benefits, also called “fringe benefits,” comes, in large part, through the tax code. The Internal Revenue Service (IRS) issues publications on the tax treatment of certain non-salary employee benefits, many of which are deductible to the employer. Certain benefits,

What types of regulations are in place regarding fringe benefits?

July 7, 2024 No Comments

When is it a good idea to use an irrevocable life insurance trust?

June 30, 2024 No Comments

A: The irrevocable life insurance trust (ILIT) is a trust that cannot be rescinded, amended or modified in any way after its creation. Once the grantor contributes property or life insurance death benefits to the trust, he or she cannot change the terms of the trust or

When is it a good idea to use an irrevocable life insurance trust?

July 7, 2024 No Comments

Who can make catch-up contributions to a Health Savings Account (HSA)?

June 30, 2024 No Comments

A: An eligible individual who is 55 years or older at the end of his tax year can make additional catch-up contributions to his Health Savings Account (HSA). The U.S. Internal Revenue Service (IRS) states that an individual can qualify for an HSA if he

Who can make catch-up contributions to a Health Savings Account (HSA)?

July 7, 2024 No Comments

Why do insurance policies have deductibles?

June 30, 2024 No Comments

A: Insurance policies have deductibles for behavioral and financial reasons. Moral Hazards Deductibles mitigate the behavioral risk of moral hazards. A moral hazard describes the risk that two parties to an agreement or contract may not act in good faith. Because insurance policies protect the

Why do insurance policies have deductibles?

July 7, 2024 No Comments

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