But where do you start? What is your biggest struggle when it comes to implementing new procedures or reassigning tasks?
The federal Family and Medical Leave Act (FMLA) requires employers to grant up to 12 weeks of unpaid leave each year to individuals recovering from a medical condition, caring for sick family members, or following the birth or adoption of a child under the age of 18. This act covers private sector companies with 50 or more employees. Although this law seems to be so confusing, many answers are found within the FMLA regulations found at www.dol/fmla.
Starting a family can be one of life’s most fulfilling experiences. It can also be among the most expensive. According to statistics compiled by the U.S. Department of Agriculture, families in the United States could spend well above $200,000 for food, shelter and other necessities to raise a child through age 17—and that doesn’t include college!
Last month we started the discussion about the new limitation on business interest deduction. I gave the three exceptions to the limitation.
- The Small Business with average annual gross receipts of $25 million
- Electing Real Property Business
- Electing Farm Business
For more information about these exceptions, please see last month’s blog.
This month I want to discuss how the limitation is calculated if you don’t meet one of these exceptions.
According to a recent Gallup poll, the average American retires at age 61. That’s at least five years away from collecting full Social Security retirement benefits, not to mention pensions, which typically begin at age 65, when available. What’s more, Medicare coverage does not begin until age 65, leaving early retirees with potentially hefty health insurance premiums until Medicare kicks in. (more…)