Buy-sell agreements protect businesses with multiple owners in the event that an owner dies, becomes disabled or voluntarily decides to leave the company. They should dictate who can buy the departing owner’s interest, when, how and for how much. Ideally, these contracts are drawn up when a business is launched, but they can always be entered into —…

Roth IRA and 401(k) accounts were created in 1998. Contributions to Roth accounts are taxed on the front end at ordinary tax rates when made. But withdrawals from these accounts are generally tax-free on the back end. If you began saving for your retirement before 1998, even if you subsequently started contributing to a Roth account, you’ve probably accumulated…

Most U.S. businesses operate as so-called “pass-through” entities, including partnerships, limited liability companies (LLCs) and S corporations. Electing pass-through status allows these businesses to avoid entity-level taxes. Instead, taxes are paid at the level of the individual owners. For years, the IRS and valuation professionals were at odds over how to value pass-through businesses because of…