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Kevin McKernan Kevin McKernan

How a Single-Member LLC Can Be Taxed As an S Corporation

Thinking about how to structure your single-member LLC for tax savings? Did you know it can be taxed as an S Corporation? This switch could reduce personal tax liability—but there are deadlines and steps you need to follow.

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Kevin McKernan Kevin McKernan

Estate Planning for Couples 

Estate planning is essential for couples to protect each other and ensure their wishes are honored!

An up-to-date Will, along with carefully managed beneficiary designations and powers of attorney, can prevent unexpected outcomes—especially for blended families or those facing life changes like marriage or divorce.

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Kevin McKernan Kevin McKernan

New York Employers' New "To Do" Item for 2025

Starting January 1, 2025, there’s a new requirement on your to-do list: Paid Prenatal Personal Leave (PPPL). All employers will need to provide pregnant employees with 20 hours of paid leave for physical exams, medical procedures, and more. This is in addition to paid sick and safe leave.

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Kevin McKernan Kevin McKernan

Why are home insurance payouts falling short?

Construction costs have soared by 55% between 2019-2022, and home replacement costs have outpaced most other sectors. This rise, combined with construction-sector inflation, has left many homeowners with inadequate insurance coverage in case of catastrophe.

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Kevin McKernan Kevin McKernan

Successful Succession Planning

Succession planning is critical for the long-term success of a business, but many plans fail due to common pitfalls. A narrow focus on the leadership transition, neglecting key business operations, family members opting out of leadership roles, and a resistance to change often hinder successful outcomes. However, a well-prepared business significantly increases its chances of a smooth transition and higher sale value.

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Kevin McKernan Kevin McKernan

5 Steps for Employers to Comply with Overtime Exemption Rules

Are you sure your employees are properly classified as exempt from minimum wage and overtime pay? Misclassification can lead to costly penalties, so it’s crucial to get it right. Here’s what employers need to prove to a court that their classifications are correct.

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