How to qualify for S Corporation Status

Mtb8loFTo qualify for S corporation status, the corporation must meet the following requirements:

  • Be a domestic corporation
  • Have only allowable shareholders
    • May be individuals, certain trusts, and estates and
    • May not be partnerships, corporations or non-resident alien shareholders
  • Have no more than 100 shareholders
  • Have only one class of stock
  • Not be an ineligible corporation (i.e. certain financial institutions, insurance companies, and domestic international sales corporations).

Survivorship Life Insurance Useful For Estate Planning

life-insuranceThe last several columns could best be described as an overview of life insurance. We discussed various forms of term and permanent plans along with an incredibly valuable rider to cover possible long-term care expenses. I will now wrap up the discussion with an explanation of a style of policy that by design just lends itself to estate planning purposes.



A New Look For The Twenty Dollar Bill

This is an Artist Rendering. The actual new $20 has not been finalized.







WASHINGTON — Treasury Secretary Jacob J. Lew on Wednesday announced the most sweeping and historically symbolic makeover of American currency in a century, proposing to replace the slaveholding Andrew Jackson on the $20 bill with Harriet Tubman, the former slave and abolitionist, and to add women and civil rights leaders to the $5 and $10 notes.