For the love of your business
For the love of your business
When running a small business, every dollar counts, so it’s critical to keep a tight rein on your expenses, especially when you are just starting out and have limited revenue. If not monitored carefully, spending can quickly get out of control and put a serious strain on your operation’s financial health. Outside of hiring an […]
Read MoreIn light of the pandemic, the rules and programs governing income taxes for businesses have changed numerous times over the last two years, which has caused confusion and headaches for more than a few business owners. And while many of the pandemic-inspired programs and tax breaks have already ended or will end soon, a few […]
Read MoreAlthough cash is the lifeblood that sustains every business, far too many business owners fail to properly manage their cash flow. And this is despite the fact that statistics consistently show that running out of money is one of the main reasons new businesses go under. Trying to run a business without carefully managing your […]
Read MoreOne of the main reasons for setting up your business as a corporation or limited liability company (LLC) is to shield your personal assets from debts and other liabilities incurred by your business. Corporations and LLCs exist as separate legal entities from their owners, which allows the business itself to acquire assets, enter into contracts, […]
Read MoreWhen you first realize that your biggest personal and business expense—bar none—is taxes, it can come as quite a shock. Seeing so much of your hard-earned money wind up in the government’s hands can feel like a shakedown. That said, focusing a relatively small amount of time and effort into strategically reducing your taxes can […]
Read MoreAlthough paying taxes is a largely unavoidable part of running a business, you might be pleasantly surprised to learn that there is one common type of tax you can often avoid paying—capital gains taxes. That said, the only way you can avoid paying capital gains taxes (at least legally) is if you plan in advance. […]
Read MoreOn September 13, 2021, Democrats in the House of Representatives released a new $3.5 trillion proposed spending plan that includes a wide array of changes to federal tax laws. Specifically, the Democrats have proposed a number of significant tax increases and other changes to fund the plan, including increases to personal income tax rates and […]
Read MoreOne of the biggest benefits of running a family business is being able to employ your minor children. By hiring your kids, you have the opportunity to teach them the value of hard work, give them experience managing money, and support them to save for their future. In return, you get employees who have a […]
Read MoreEmployers should be on the lookout for a new email phishing scam that targets employee paychecks. The latest wave of attacks is a new version of wire fraud scams, which have recently hit businesses across the country. Known as “business email compromise” or “business email spoofing” (BEC/BES), these scams target businesses of all industry types […]
Read MoreIn April 2018, billionaire Matthew Mellon flew by private jet to Cancun Mexico to check himself into drug rehab to deal with his addiction to opioid pain pills. But the 54-year-old heir to the Mellon Bank dynasty never made it to the rehab facility and was found dead in his hotel room after suffering an […]
Read MoreComing up with a solid concept for a new business and working to get your operation off the ground can be an expensive undertaking. But the good news is that you can write off a number of the expenses involved with the startup process. That said, the rules for deducting startup expenses are a bit […]
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