Economic fallout from the COVID-19 crisis may cause some cash-strapped individuals to default on loans they’ve taken out from company qualified retirement plans, including 401(k) and profit-sharing plans. Defaulting on a plan loan will cause adverse tax and retirement-saving consequences. Here are the details. Retirement Plan Loan Basics A participant in an employer-sponsored qualified retirement plan…

According to a recent report, only 42% of Americans have estate planning documents, such as a will or living trust.1  This may not be entirely surprising. No one wants to be reminded of his or her own mortality or spend too much time thinking about what might happen once they’re gone. Tip: Let Them Know Your will may…

The market approach, whereby appraisers use comparable “guideline companies” to help them estimate the value of a private business, has become a long-standing valuation touchstone. Two primary valuation methods are categorized under the market approach: Guideline public company method. Here, appraisers identify companies with stock (or partnership interests) that are actively traded in the public markets,…