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![]() Denice Gierach - ArticlesDenice Gierach is a lawyer and owner of The Gierach Law Firm in Naperville. She is a certified public accountant and has a master's degree in management. She may be reached at deniceg@gierachlawfirm.com. For more information on Denice and The Gierach Law Firm visit Gierach Law Firm
Some Medicare Recipients Will See a Rise in Premiums in 2010The Medicare program has announced its 2010 premium and coinsurance rates. Due to an anticipated increase in medical costs, there will be an increase in Medicare-related premiums, although not all recipients will have to pay the new rates. Over the last few years, there have been changes in rate-setting by Medicare. Now, not every Medicare beneficiary can expect to pay the same portion of his or her medical, as in the past. Instead, there is a confusing system of co-payments, deductibles and Is buying a franchise your best option?Many people looking to buy a business consider buying a franchise. After all, they think the franchisor has a cookie-cutter approach that can’t miss and they can just walk into the new business, which will be flush with cash. In the numbers I have read, four out of five new franchise businesses will not be around in five years. The numbers of franchises that fail are staggering. Where to turn when business partners are in conflictMany times partners in a business start out at the beginning of the business excited to go into business with each other. Each has their own separate skill set that they bring to the table, whether it is in sales, production or operations. Many times their background is in a large corporate environment and they yearn for the ability to call the shots themselves. Just as in a marriage, they may not spend the time to talk about the problems that they may have down the line in the business. The Is this a good time to transfer your wealth to your children?With the interest rates at a really low rate, and with the economic fallout from the present economy, even people with money do not feel flush now and may decide that they do not want to make gifts to the next generation. Even though the economy has been in recession many times before and has come out of it to prosperity, sometimes it is hard to look beyond the present time to see that prosperity. So you have entered retirement - now what?Now that you have made the decision to retire—or the decision was made for you by the company that you worked for—it is time to decide what to do with your life. While you may want to take some well-deserved time off, try to set out a time line for that vacation and a self-imposed deadline to make the decisions for your future.
Remember that your prior job did not define you and may be just the stepping stone to something that you always wanted to do in your life, but were unable... Consider a Donor Advised FundMany people give small amounts to numerous charities, without considering whether and how to give more of their total charitable gifts to those organizations that assist in dealing with issues near and dear to their heart, which may range from scholarships to educational institutions, research on cancer, Alzheimer’s disease, mentoring programs, helping children, humane societies, to name but a few. Those larger gifts allow them to either support an existing program or to create... Law Talk: Beware of firms that tout tax reductionsMost probably you have heard ads on the radio or seen spots on the television for businesses who claim to be able to help taxpayers who are behind on their tax liabilities. The ads claim that they are able to represent the taxpayers and can settle cases for pennies on the dollar. The ads chime—why pay more? Giving something back a wise investmentBusiness people generally get a bad rap in the general press and the movies trying to make the business of making money a bad thing. The reality is that many businesses that are successful have a genuine desire to give back to the community, which they do in many ways. Not easy, but being green hottest, trendiestIt’s not easy being green—or so the song goes. That being said, with the new administration in Washington, going green is not only “hip”, but there may be some tax advantage or grants to entice you to go green. One application of the green concept is a green building. Your attorney is your trusted advisorWhen you have given birth to that business idea, you want to take the idea and run with it. You may or may not have experience to know the legal items that you will need and you may or may not have the accounting background to do a proper financial plan.
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