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Medicaid Spend Down: Family Caregiver Contracts

Qualifying for Medicaid often involves accelerating expenditures to reduce an applicant’s countable resources down to the required level. One technique for spending down assets to accelerate qualification is through the use of a Family Caregiver Contract.

Donations by U.S. Charities Abroad

It is not uncommon for U.S. tax exempt organizations to make donations to foreign charities.
The Internal Revenue Service has specific regulations governing such activities.

IRS TAX TIP: Don't Ignore Mail From the IRS

You would not think that it is necessary to issue this kind of update, but the IRS has issued a helpful reminder in its Tax Tip 2022-62: don’t ignore mail from the IRS.

Tax and Non-Tax Identity Theft Response

The Internal Revenue Service (IRS) April 11, 2022 publication of Fact Sheet 2022-25, "When to file an Identity Theft Affidavit" serves as, unfortunately, a necessary reminder of how to deal with tax and non-tax related identity theft.

What Transfers are Exempt from the Medicaid Transfer Penalty?

In order to discourage Medicaid applicants from artificially impoverishing themselves (through gifting) to financially qualify for Medicaid, a penalty is imposed on asset transfers for less than fair consideration that occur within a defined time period generally referred to as the “look-back period”. However, not all transfers are subject to this penalty.

International Conflicts and Retirement Plans

What do international conflicts have to do with retirement plans in the United States? At first glance, the answer is “nothing.” However, the correct answer depends on whether your workforce is called to military service while employed and then, after that call to service, resumes employment with you.

What Assets are Exempt for Medicaid Eligibility?

In order to qualify for Medicaid financing of long-term care services, an individual must be medically and financially eligible. The financial requirements limit the amount of “countable” resources and income that an individual can have and still qualify for Medicaid financing. But what are the "non-countable" resources?

Another Benefit of Medicaid Qualification: PA Filial Support Law

The obvious benefit of qualifying for and using Medicaid for long-term care costs in Pennsylvania is to preserve assets for the next generation. Another, lesser known benefit is to protect your children from the financial burden of your nursing home bills, because of Pennsylvania's Filial Support Law.

2021 Agent and Broker Mergers and Acquisitions

Mergers and acquisitions among insurance agencies and brokers in the U.S. and Canada set all-time record in 2021.

In-Home Waiver for Medicaid

Information and steps to apply for waiver services in Pennsylvania.

New Single Life and Uniform Life Tables and RMDs

The IRS issued final regulations on November 4, 2020, making revisions to the Single Life and Uniform Life tables for calculating required minimum distributions (RMDs), effective January 1, 2022.

Why Use Trust Planning?

This article shows the benefits of multi-generational asset protection planning, using trusts.

Insurance Broker M&A Activity Continues at Record Levels

Mergers and acquisitions among insurance agencies and brokers in the
United States and Canada continue to occur at record levels.

2022 Dollar Limitations on Benefits and Contributions

The IRS has announced the cost-of-living adjustments for pension plans and other related items for the 2022 tax year (Notice 2021-61).

COVID-19’s Impact on the Unemployment System

One of COVID’s most severe impacts was on the unemployment system. The system became incredibly complex to navigate due to significant changes at the federal and state levels. Even today, with the federal benefits having expired, the system still seems unfamiliar and tangled.

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