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According to research, 22% of businesses fail in the first year while 50% of businesses fail within the first five years. If you've recently closed a business, starting a new venture may seem impossible, especially if you experienced financial setbacks. However, there are ways to overcome your ...

With age, it is common for seniors to experience reduced mobility, lower stamina, and some level of cognitive impairment. Additionally, seniors who live alone, away from family can also experience stress and difficulties managing ADLs. In this article by Ronald J. Fichera Law Firm, we explore v...

You've tied the knot in your golden years, and now you're looking forward to spending your retirement with the person you love. Getting married as a senior can be exciting and confusing all at once - after all, you do need to make some adjustments to your finances and lifestyle. But with the ri...

Anyone with a child with special needs understands the need to prepare for the future. A trust is always a good place to start, and figuring out a savings goal for that trust is a key part to your planning.   One of the most difficult challenges in planning for a child w...

Special needs trusts can help fund quality-of-life improvements for the beneficiary, such as a phone, a trip or a private room in a group care facility. Like many parents with a disabled child, Lisa Bamburg worried about how her son, Joel, who has severe autism, would...

If you're working from home, your employment status determines whether you can claim the home office deduction on your tax return. Like millions of other Americans, you may be working from home a lot. Perhaps you're even a full-time remote employee. There are ce...

Health insurance is seen as a huge hurdle for early retirees, but the answer to finding affordable coverage could be simpler than you think.   It is one of the most discussed reasons people refuse to retire before age 65. There are plenty of reasons someone may not retir...

Anyone with a child or grandchild with a disability needs to pull out their will and make sure the way it's written doesn't unintentionally keep someone they love from the benefits they need. Estate planning is not a requirement. No one can force you to make your will, cr...

Getting the services needed for a person with a disability can take some careful planning, considering some important benefits programs limit the assets owned to just $2,000. It is easy to think that something called a “special needs trust” is only used infrequently – after a...

How to Create and Negotiate Successful Business Contracts

Parents of children who have special needs are busy folks, but they would sleep better at night if they took the time to complete these four tasks, which will help protect their children's future. "I have stayed awake worrying about our son's future every night fo...

Will your step-children get any of your property when you die? This has been an issue for decades and the law has been somewhat confusing and complicated regarding Estate Planning and step-children. See references below at 1 and 2. In 1991, the General Assembly repealed Chapter 17 and added the...

Before pulling money out of retirement accounts early, check the rules. The exceptions to penalties can differ depending on which type of account you've got. There is a lot of confusion surrounding the 10% penalty that the IRS imposes on early distributions from retirement plans. Most people...

What is Income Tax? Income tax is a direct tax imposed by the government upon its citizens on the income or profits earned by them within their jurisdiction. The tax law states every taxpayer must file an income tax return for each financial year to determine their tax obligations. Income tax is...

Learn the ins and outs of the capital gains tax, which you may owe if you sell stocks, your home, cryptocurrency, a stamp collection, and much more. Billionaire business owner Warren Buffett once famously commented that his secretary paid taxes at a higher rate than he did. Although there ar...

New government rules will affect the classification. And now is the time to get ready. If your business, like mine, uses independent contractors, then new rules in the works at the Department of Labor may change how we classify these workers. Many of us may be required to classify these contra...

Blurring the lines between business and leisure is never a good idea. The need to separate business and personal finances is imperative when starting a business. It will play a significant role in how your business operates and how the corporate world perceives it. Differentiating between per...

When you're working remotely, you have the freedom to do your job when and where you want to, away from the distractions and productivity drains of an office. However, working from home comes with its own challenges. Here are a few suggestions to help you structure your day as a remote worke...

I just got appointed agent under a financial power of attorney. What do I need to do next?   Has a loved one named you their financial power of attorney? Are you ready to take on all the responsibilities that entails? Hopefully, you won't be called into action an...

Over-investing in your 401(k) can lead to a taxing retirement. It's one of the biggest mistakes investors tend to make, and it's avoidable. When people meet a doctor at a party, they ask about a pain or a rash. When they meet a financial professional, they'll...

Be careful who inherits your IRA, and be smart about how they are allowed to do it. It could save them a potentially 40% tax hit. People often don't make the time to check their beneficiaries, but if you own any retirement savings accounts, such as an Individual Retiremen...

Many parents fail to get their financial affairs in order, neglecting to take care of such things as wills, living wills and powers of attorney. Many parents fail to get their financial affairs in order, neglecting to take care of such things as wills, living wills and po...

Some situations where you may need to change your will should be obvious to most people. But others just may surprise you. I can't tell you how often I meet with clients who tell me they have been meaning to update their wills for years but never got around to doing it. T...

"Updating Your Estate Plan? Don’t Make These Top Mistakes"

Are you thinking about starting a business with your significant other? Juggling a relationship and a business can be tough, especially if you have children. And if you're both trying to launch a business on the side of full-time jobs, you're going to need a lot of determination to keep at it. ...