By Kristina Schneider, Practice-Building & Marketing Specialist “Businesses often forget about the culture and ultimately suffer for it because you can’t deliver good service from unhappy employees.” – Tony Hsieh, CEO of Zappos An often overlooked aspect of developing a successful business is really taking the time to look at the employees, the work environment and the company culture. The fact is, if you have a disorderly, stressful, and hostile work environment, chances are that you have unhappy employees who don’t like coming into work every day. And the bold truth of it is that your business will suffer…
Will the Build Back Better Act Apply an 8% Surtax on Taxable Income in Trusts for Children?
By Steven J. Oshins, Esq., AEP (Distinguished) At the time of the writing of this article, the proposed Build Back Better Act includes an income tax surtax of 5% on taxable income (actually Modified Adjustable Gross Income) above $10 million and an 8% surtax on taxable income above $25 million. However, the current language applies the same 5% surtax to taxable income above $200,000 of taxable income and the same 8% surtax to taxable income above $500,000 in a non-grantor trust regardless of the wealth or taxable income of its beneficiaries. This includes a simple trust for the benefit of…