Lance Wallach is a pension expert who has written and spoken extensively on the benefits of a VEBA. I recently had the opportunity to be on a conference call with him and Tim Metz, CPA. Mr. Wallach explained the benefits of a VEBA under IRC 419(e). There are huge advantages with this type of plan as compared with a 401(K). There are no contribution limits on a VEBA, you can set variable vesting times, withdrawals at any time are tax-free as long as the money is spent on the employee’s health and welfare, and post-retirement medical expenses can also be funded.

Mr. Wallach’s company sets up and administers the VEBA plans with the help of CPAs and attorneys licensed in the state where the business is located. The typical set-up fee is between $6,500 and $10,000, all of which is tax deductible. The set-up fee depends upon how much tax planning the business wants. For example, the VEBA can be used to fund a buy-sell agreement, or the VEBA beneficiary can be a life estate set up to avoid probate.

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Just “walk-away”?

You know the saying - there’s no such thing as a free lunch. And that is true for everything.

Manufacturers are offering “walk-away” fire truck leases that give you a chance to just hand the keys back if you don’t like it.

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The IRS defines goodwill as “the value of a trade or business based on expected continued customer patronage due to its name, reputation, or any other factor.” IRS Publication 535: Business Expenses, Ch. 9, Cat. No.15065Z.

The American Society of Appraisers defines goodwill as: “that intangible asset arising as a result of name, reputation, customer loyalty, location, products, and similar factors not separately identified.” And as “that intangible asset arising as a result of elements such as name, reputation, customer loyalty, location, products, and related factors not separately identified and quantified.”

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We go to meetings to share information, to report on project status, to make decisions, to get the free lunch, and because we were invited. (Sorry that I digressed). This is only a partial list – there are many other valid reasons for holding meetings.

Perhaps the most common and best reason for a meeting though is to solve a problem. A meeting is a great place to do this – you get a variety of people with a variety of experiences, knowledge and perspectives together to ensure that the best possible solution is identified and that all of the important considerations have been taken into account.

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Lease options which turn renters into partners is a means for people who cannot afford a huge down payment, but earn a steady and large income to become homeowners. When you lease or rent a property for a fixed mount of time, with an option to purchase it at a future date it is called as lease option. It is customary for a portion of the rent agreed upon, to be used as a future down payment for the home. However, if you fail to purchase the house the lessee may lose the option fee charged as per the agreement. The price of the property is fixed at the time of the agreement. They usually sign a lease option agreement with the leaser whereby they agree to have the legal right to buy the property within a certain period but are not required to purchase the property.

Advantages and Disadvantages of a Lease Option to Buyer.

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How many times have you been on, or heard about a team that got frustrated? Or felt like they weren’t making progress? Or weren’t completely clear on what they were expected to do? Or didn’t feel like they had support from those above them?

If you are like me and most people I know, you are nodding yes to one or more of the questions above.

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While cell towers actually started being built in the late 1970’s, the boom in development did not really start until Congress passed the Telecommunications Act of 1996. Instead of having two wireless providers in any one area, customers now found that there were up to eight companies with licenses from the FCC to provide Personal Communications Service (PCS) in their area.

Initially, each wireless provider built its own towers and rarely collocated (shared) on the other’s towers. This made for rapid development of communication sites and towers and a plethora of landowners with cell towers on their property. As you can imagine, many landowners had little to base the lease negotiations on and signed agreements that were substandard in comparison to today’s lease rates.

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One of the tasks that come with being a leader is setting goals. Goals for ourselves, to be sure, but often we need set goals for our groups/teams or the larger organization. While we may instinctively know that we should include people in the creation of goals they will be working to achieve, too often the press of time and the lure of expediency leaves leaders setting the goals, and simply sharing them with those charged with achieving them.

The Four Reasons

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