Don’t Let The “Wash Sale” Rule Ruin Your Tax Planning
As the end of another year approaches, you're looking for ways to reduce your tax bill. You have a handful of stocks in loss positions. You like the stocks and expect the prices to rebound. Should you sell now at a loss to offset other capital gains, then buy the...
Data Security Is An Essential Part Of Customer Care
Security breaches of confidential data capture the global news headlines on a daily basis. Identity theft has become so commonplace that credit card companies and banks market their protection efforts as free services to their customers. The IRS is at risk too, with...
The Taxing Side Of Divorce
Getting divorced? Amid all the upheaval, taxes are not likely to be foremost on your mind. Yet overlooking the tax consequences can be costly. Here are some of the basics. Your filing status will change. No matter if you get your final divorce decree or separate...
Questions To Ask Before Signing A Business Loan
Are you thinking of taking out a loan to buy new machinery or additional inventory for your business? Before you sign that loan document or credit application, consider the following questions. What's the true cost of borrowing? The interest rate on your business loan...
Rent Or Buy? It’s A Matter Of Perspective
The buy-or-lease question is a common dilemma, whether you're asking as a homeowner, or for your business. For perspective, think of the big picture. In either case, you're paying for the exclusive use of an item over a set period of time. With that as a point of...
Teach Your Kids to Use Credit Cards Responsibly
No doubt you have shared the adage "if it sounds too good to be true, it probably is" with your children. That caution is wise, especially when teaching your kids how to use credit cards responsibly, because misuse of credit can have a long-term impact on financial...
Business Charitable Deductions Require a Little Tax Wisdom
Aristotle famously lamented that giving away money is easy, but giving it away wisely is another matter. For business owners, smart giving begins with an understanding of a few tax rules. Your business form. The tax implications of giving to charity from your...
Regulations Clarify: Partners Cannot Be Employees
By Sally P. Schreiber, J.D. May 3, 2016 The IRS issued temporary regulations on Tuesday intended to halt the practice some partnerships have adopted of treating partners as employees of a disregarded entity owned by the partnership so they could be included in...
Crowdfunding Raises Tax Issues
Raising funds in small amounts from a large pool of people, also known as crowdfunding, has become a popular way for budding entrepreneurs to drum up the working capital for pet projects. It seems like everyone from twenty-somethings to stay-at-home parents to...
Navigate Business Changes Successfully
Change happens. That's especially true in the business world, where changes may be mandated by tax or regulatory requirements, increased competition, shifts in customer needs, or technological advances. Whatever your reason for making a change in your business,...