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Category Archives: Business planning
Tweet As I write this, I ponder the timing of this potentially new legislation. For us planners (and those financially savvy individuals), it sure doesn’t give us much time to act, especially if we are to implement any 2017 year-end moves. Please remember this bill is not yet law. The information I am using is up-to-date as of December 18th and based … Continue reading
Tweet With congress returning to work this week, there are a few items that are still up in the air for tax year 2014. The most pressing issue (at least in relationship to taxes) is the topic of tax extenders. These extenders expired Dec 31, 2013 and unless legislation is put in place this expiration could be costly for many taxpayers. The … Continue reading
Tweet Happy Happy Joy Joy….Happy Happy Joy Joy! Stick a hot poker in my eye, and you’ll understand my feelings about the reporting requirements for small business owners and the 1099. While I understand the concept and reasons for this reporting requirement, it’s simply a pain. Ok, I’ll get of my soapbox, stop complaining, and deliver the lowdown. If you are a … Continue reading
Tweet Are you a business owner? Are you self employed? Is your business set up for financial success? As a fee-only advisor, I frequently speak with business owners and individuals who are self-employed or contractors. Unfortunately, I have seen many mistakes that have negatively impacted the success of the small business owner. For instance, improper ownership titling, improper business entity selection, improper … Continue reading
Tweet In my last article regarding small business owners I discussed how to run a small business from a managerial standpoint. While those issues are imperative for success for the business, there is another aspect to becoming a successful small business owner: managing taxation! If a small business owner owns a flourishing business but bobbles personal taxes or business taxes, the business … Continue reading
Tweet As a fee-only Advisor that works with small business owners, I constantly see issues with the management of prospective clients’ businesses. While every business has its own idiosyncrasies, there are several aspects of a business that should be similar regardless of the type of business. Bookkeeping is one example. A common mistake small business owners make is the improper tracking of … Continue reading