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How long should you hang on to all those income statements, receipts, and canceled checks? You know you need to keep some or maybe all of those papers—but, which ones and for how long?

Today’s business owner faces a myriad of potential crises. Business owners know that potential crises and unforeseen events may disable their companies and, as a result, the families involved. In this respect, a qualified income replacement plan can be a valuable addition to any business’s benefit package.

Anyone familiar with estate planning can attest to the confusion that community property rules often cause married couples. For those married individuals either living in, or considering moving to, one of the community property jurisdictions, the issue strikes a little closer to home.

You have the right to information and assistance in complying with the U.S. tax laws. In addition to the basic instructions provided with tax forms, the Internal Revenue Service (IRS) makes a great deal of other information available.

GIVING THANKS The season of gratitude is here again, and it’s almost time for me to don my chef’s hat.

In addition to providing the cash to recruit, hire, and train replacements, key person insurance can help replace lost profits so that the success of your business may continue uninterrupted.

Your of domicile can have a significant impact on your estate plan, and may also affect your state tax liability. Also, not all states define property ownership in the same way.

For most people, there are few problems as “taxing” as tax problems with the Internal Revenue Service (IRS). Indeed, it can raise the blood pressure of even those with the most laid-back personalities.

Owners of small businesses have much the same concerns as everyone else, except they are personally responsible for the fortunes of their enterprise.

Advance directives by durable power of attorney, health care proxy, or living will are relatively inexpensive and easy to establish, and should be considered essential estate planning tools.