Pay attention to securities laws when planning your estate

Do your assets include unregistered securities, such as restricted stocks or interests in hedge funds or private equity funds? If so, it’s important to consider the securities laws that may be involved in various estate planning strategies.

Potential estate planning issues

Transfers of unregistered securities, either as outright gifts or to trusts or other estate planning vehicles, can raise securities law issues.

Does your business have employees who get tips? You may qualify for a tax credit

If you’re an employer with a business where tipping is routine when providing food and beverages, you may qualify for a federal tax credit involving the Social Security and Medicare (FICA) taxes that you pay on your employees’ tip income.

Credit fundamentals

The FICA credit applies to tips that your staff members receive from customers when they buy food and beverages.

Yes, your college-age child needs an estate plan

If your college-age child is home for the holidays, it may be the perfect opportunity for the two of you to meet with an estate planning attorney to draft an estate plan for him or her. Even though college students typically don’t have many assets, it’s critical to at least have these four documents in place if an unforeseen incident occurs while your child is away at school: