PORTABILITY UNDER THE 2010 TAX RELIEF ACT: DOES IT END THE NEED FOR COMPLICATED ESTATE PLANNING?

July 20, 2011

By Kevin Lanigan, Carlson Estate Planning
Under the 2010 Tax Relief Act passed in the closing days of 2010, a new concept known as “portability” between spouses of their Federal Estate Tax Exemption was introduced.
Beginning in 2011, the new estate tax law allows widows and widowers to inherit the remainder of their spouse’s unused lifetime Federal [...]

Read the full article →

“REDUCING YOUR INSURANCE COSTS…DISTINGUISHING BAD ADVICE FROM GOOD ADVICE”

July 20, 2011

By Gary Sorenson, CEA, CLCS, PLCS, President, Insurance Brokers of Minnesota
Many Americans are struggling financially in the current economy, particularly those struck by lay-offs, and are faced with tough decisions about how to reduce expenses. As a result, much has been written in recent months about how to reduce insurance premiums as one aspect of [...]

Read the full article →

MANAGING LEGAL FEES IN BUSINESS TRANSACTIONS

May 26, 2011

By Robert S. Halagan, Halagan Law Firm, Ltd.
Recently I was involved in a business deal where the principals met to negotiate the terms and then brought the lawyers to the table to “document” the deal. Sounds like the cheapest way to handle a transaction, right? Not quite. The lawyers saw issues the principals [...]

Read the full article →

BUDGET FOR PROFIT

May 26, 2011

By Kelli Hoskins, ActionCOACH MetroNorth
As small business owners, most of us are familiar with the term “Budget.”  According to wiki, a budget is “a list of all planned expenses and revenues  that ‘enables the actual financial operation of the business to be measured against the forecast.’”  Yet where is the reference to “Profit?”  [...]

Read the full article →

AS THEY SAY, “CHANGE IS A COMING”

May 25, 2011

By Luke Bauman, Wright County Economic Development Partnership
At 7:00 a.m. on April 14th, I was sitting in the auditorium at General Mills Corporate headquarters.  I was listening to politicians and economic development leaders from around the Twin Cities introduce the “Greater Minneapolis – St. Paul Regional Economic Development Partnership.” This new partnership is the result [...]

Read the full article →

IF YOU LEAD, WILL THEY FOLLOW? Become a leader who inspries transformational change in others

May 25, 2011

By Robert Sicora, Sicora Consulting, Inc.
Change happens within an organization. True leaders are prepared for changes and develop an action plan for things that happen. Linda Ackerman Anderson (2011, March) gave a presentation called The ten common mistakes in leading change, and how to prevent them in which she said: “Change happens from the inside [...]

Read the full article →

TRADEMARKS–WHEN IS A DESIGNATION A TRADEMARK?

May 25, 2011

By Michael S. Sherrill, Sherrill Law Offices, PLLC
Trademarks can take many forms, including words, designs, slogans, scents, names, sounds, colors, etc. However, not every such designation is entitled to the status of a trademark and the rights appurtenant to such status.  Such designations, to be entitled to the status of a trademark, must be used [...]

Read the full article →

MAKING THE MOST OF THE NEW GIFT TAX

May 25, 2011

By Kevin Lanigan, Carlson Estate Planning
Under the Tax Act of 2010, which became effective last December, individuals can give away up to $5 million in gifts during their lifetime without triggering gift taxes ($10 million for married couples). The previous gift tax exemption was $1 million.
This change presents a great estate tax reduction opportunity. Making [...]

Read the full article →

THE EMPLOYMENT-RELATED PRACTICES LIABILITY

May 25, 2011

By Gary Sorenson, CEA, CLCS, PLCS, President, Insurance Brokers of Minnesota
Who could be sued for violating an employee’s rights?  Just about anyone who employs another person!  Discrimination, paying incorrect overtime amounts and sexual harassment are just three of many workplace situations that could lead to a lawsuit.  Some actions result from the employer being unaware [...]

Read the full article →

INFORMED HOMEBUYERS ARE MORE EFFECTIVE CONSUMERS

May 25, 2011

By Rhonda Hanson, Mortgage Lender of BANKWEST
Today, there are a growing number of obstacles for homebuyers, including a higher credit score standard and more restrictions on credit. Consumers should have a thorough understanding of the changing market when shopping for a mortgage. To find the right product, BANKWEST Mortgage recommends that buyers:

Be aware of first-time [...]

Read the full article →

Employment Agreements – When do you need one?

March 16, 2011

By Robert S. Halagan, Halagan Law Firm, Ltd.
The starting point for an employment relationship in Minnesota is “at-will,” meaning that an employer is free to terminate an employment relationship at any time for any reason (as long as it’s not an unlawful reason) and an employee is free to quit their job and go to work [...]

Read the full article →

Profit Per What?

March 16, 2011

By Kelli Hoskins, ActionCOACH MetroNorth
If the ultimate goal of any business is to make money, why is it that so many businesses are not profitable?  The No. 1 reason in my opinion is because the person running the business does not focus on profitability.  From what I have observed time and time again, they focus [...]

Read the full article →

Long Term Care Insurance

March 16, 2011

By Gary Sorenson, CEA, CLCS, PLCS, President, Insurance Brokers of Minnesota
Rising life expectancy means that the potential need for “long term care” grows with every passing year of your life. The likelihood is that you or a member of your family will need long term assistance due to a prolonged illness, a disability, or general [...]

Read the full article →

Recent Changes in Foreign Bank Account Reporting

March 16, 2011

By Roben D. Hunter, JD, CPA, CVA, CFFA, Hunter Advisors, PLLC
Today’s world is one of international investments. On February 23, 2011, the U.S. Treasury Department’s Financial Crimes Enforcement Network amended the Federal Bank Secrecy Act and regulations governing the TD F 90-22.1, Report of Foreign Bank and Financial Accounts (“FBAR”).  The FBAR is required to [...]

Read the full article →

Married With Assets

March 16, 2011

By Kevin Lanigan, Carlson Estate Planning
For many years the standard protocol for affluent couples has been to draft estate plans designed to minimize estate taxes by putting some of the assets of the first spouse to die into a “credit shelter” or “bypass” trust to shelter the assets from estate taxes down the road.
The New [...]

Read the full article →

← Previous Entries

Next Entries →