The primary purpose of life insurance is to pay a death benefit – almost always tax free – when the insured dies. We’re all familiar with the need to insure the life of a breadwinner to protect a spouse and children from financial catastrophe. As a dental practice owner, we have some special needs to […]
Archives for May 2014
5 Tax-Related Steps When Hiring Your First Employee
Be prepared for a mountain of paperwork, much of it related to income taxes.
Severance Pay is Taxable
When dental practices lay off employees, severance pay is often a part of the deal. According to the United States Department of Labor, this pay is not required under any circumstances. However, many dental employers choose to offer severance pay in order to ease the transition into unemployment or a new job. Unfortunately, even though […]