Most people never think about the fact that a lawyer with his own firm as a small business owner. But in fact, that’s the way it is for many lawyers, whether they’re a partner, or a sole practitioner. You deal with multiple cases, handle your payroll and taxes, and manage all of the things a business needs. One of those needs being disability insurance. And anyone who has been around personal injury cases knows that having decent disability insurance can go a long way.

I recently came across an article by Darrell Zahorsky called “11 Tips For Buying Small Business Disability Insurance.” If you happen to be in the market for such insurance, click the link above to check out his article. It covers things such as:

• Defining disability
• Determining disability type
• Looking at financial ratings

And more. Give it a read. It might even come in handy for someone you know.

Photo Credit: 123RF Stock Photo

A new year means new beginnings. Well, maybe not, but it does mean a new Social Security wage base. The Social Security Administration announced there will be an increase from $117,000 to $118,500 for the 2015 wage base.

Social Security’s Old-Age, Survivors, and Disability Insurance (OASDI) 2015 tax rate will be 6.2 percent for both employees and employer. This in turn would make the maximum contributed per individual to be $7,347. The individual’s employer will pay the same amount. For those who are self-employed, the OASDI tax rate is 12.4 percent.

You can learn more about this by visiting Social Security’s Contribution and Benefit Base page of their website.

Copyright: 123RF Stock Photo