Tax season is well underway and I know a lot of us can’t wait until the tax filing process is over. Taxes are a necessary annual duty for most people, so it makes no sense to complain about having to file or putting it off until just before the deadline. The best thing you can […]
No matter what type of business you run, you will incur expenses. The good news is that most business expenses are tax deductible, which reduces the amount of income tax and self-employment tax you might owe over the course of a year. Most business owners know that self-employment tax can be a killer. Unlike employees […]
There are various considerations to take into account when running a business. One of the top priorities for business owners is choosing how to pay themselves once the company is profitable. The answer rests a number of factors including the company’s legal structure and what it does to taxes. Here’s a brief run down on […]
February is here That means that tax season has begun. Many will be getting tax refunds, but hopefully won’t use the ‘extra’ money as excuse to go nuts spending and blow a whole lot of money in a small period of time. If you want to make good use of your refund here are a […]
Every 1st and 3rd Monday I host the online Twitter Chat #MoneyChat. (Follow @MoneyChatLive & @DorethiaConner) This is the transcript from this weeks discussion for business owners on a few of the top mistakes we all have made at some point! Our guest was my friend and author Bernadette M. Johnson of By The Book Accounting (@ByTheBook). Speaking of books be sure to pick hers up Business Blueprint: A Small Business Owners Guide to Starting and Running a Business!
It can be quite a task to navigate the financial aid process. It’s difficult to keep up with what is counted toward the expected family contribution (EFC) amount and what isn’t when deciding how to invest for college. It may stun some of you to know that the parent’s assets are not weighed as much as the student’s in calculating financial aid awards. That’s right, the formula used assesses a family’s need and EFC is based on 5.64% of parents’ assets and 20% of assets in a child’s name or custodial account.