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Tips for Business Valuation Preparation

As a business owner you should be in possession of a business valuation that is updated yearly so you have an accurate understanding of your company’s value. Updated valuations help with: taking advantage of opportunities that might arise such as planning for an expansion or taking on a new...... Read More

What You Can Do to Avoid the Dreaded Alternative Minimum Tax

In 1969 Secretary of the Treasury Joseph W. Barr testified before Congress that 155 taxpayers with incomes exceeding $200,000.00 hadn’t paid federal income taxes in 1966. With inflation, that $200,000.00 would equal roughly $1.5 million today. Those taxpayers were able to dodge taxes by exploiting existing tax breaks and...... Read More

Advantages and Disadvantages of Health Savings Accounts (HSAs)

Health Savings Accounts, which were put in place in 2003, were designed to help American workers cover the costs of various eligible medical expenses. In order to qualify for an HSA, you must be enrolled in a high-deductible health plan. Additionally, you can’t currently be enrolled in Medicare, and...... Read More

Understanding and Calculating the New 199A Deduction

The 2017 Tax Cuts and Jobs Act created a new deduction for pass-through business owners. Called the 199A deduction, or the Qualified Business Income Deduction, it allows taxpayers other than corporations – specifically S corporations, partnerships, and limited liability companies (LLCs) – a deduction of 20 percent of qualified...... Read More

Six Steps for Building a Better Nest Egg

Building a nest egg takes planning, hard work, diligence, and time. And according to the investment research company Morningstar, only about 25 percent of working American households are on track for retirement. It goes without saying that in order to build a nest egg, you have to save money,...... Read More

How Rising Interest Rates Could Affect Small Businesses

On June 13, the Federal Reserve announced a hike in interest rates by a quarter-point, from 1.75 to 2 percent. This marks the second increase in 2018, and two more increases were suggested for later this year, with the central bank projecting an increase in the federal funds rate...... Read More

When Should You Start Collecting Social Security?

You can start collecting social security benefits at age 62, provided you’ve paid into the program for approximately 10 years, but is that the right move for you? Maybe waiting until the retirement age, which ranges from 65-67, is a better fit for you. Or maybe you’re someone who...... Read More

Top 10 Tax Deductions for Self-Employed Individuals

If you’re a freelancer, independent contractor, sole proprietor, or small business owner, you might be wondering how the implementation of the Tax Cuts and Jobs Act will affect you come tax season. With this in mind, below is a list of the top 10 tax deductions effective for this...... Read More

How Small Businesses Can Learn a Successful Mentality from Notable Entrepreneurs

Success Mentality: What Small Businesses Can Learn from Some of the World’s Most Notable Entrepreneurs If you’re looking for success and longevity in your business, whether you have just the spark of an idea or you’re already in the thick of things, where better to look for inspiration and...... Read More

Saving Beyond a 401(K)

Whether you don’t have access to a workplace retirement plan, or you just don’t know how to begin saving beyond your employer-provided 401(K), the hard truth is that nearly half of Americans aren’t saving enough for retirement. The goal when saving for retirement is to minimize tax liabilities and...... Read More
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