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Some tax-cutting strategies make good financial sense. Others are simply bad ideas, often because tax considerations are allowed to override basic economics. Here’s one example of the tax tail wagging the economic dog. Let’s say that you operate an unincorporated consulting business. You want an additional tax write-off, so you decide to buy $10,000 of […]

Does a suggestion to boost productivity with time off sound counterintuitive? Research has shown that giving workers – and perhaps yourself, as a business owner – time off to recuperate from work demands can be energizing. Here are three ways your business can benefit. Health and customer service benefits. When combined with a sick leave […]

Will wedding bells be ringing for you in the future? If so, add tax planning to your to-do list. Here are tax tips for soon-to-be newlyweds. Check the effect marriage will have on your tax bill. If you both work and earn about the same income, you may need to adjust your tax withholding to […]

Do you regularly monitor your company’s cash accounts? Being aware of where your cash is going can help prevent theft or improper expenditures, which are among the chief sources of loss for small companies. What can you do to reduce the risk of losses? The textbook answer is to implement “internal controls.” Internal controls are […]

A December 2015 survey by a consumer financial services company showed that 36% of the people who participated said they dealt with their most recent unexpected expense by using savings. Would you be part of that group? Here are tips for starting your “rainy day” fund. Define how much emergency savings is enough. A good […]

Times of crisis, when others are suffering and you want to help most, is also when heartless fraudsters tend to strike. If you’re planning a donation, watch for these signs that a charity isn’t on the up-and-up. The fly-by-night charity. Every legitimate charitable association had a start date, and some are still being formed. But […]

Are you thinking of signing up with one of those websites that link travelers to property owners with space to spare? If you plan to offer for rent all or part of your main home, establishing sound record keeping procedures from day one is a good idea. In addition to a bookkeeping system to track […]

Are your children in college? You may be able to offset some of the costs of their education with tax breaks. Here’s a “tax primer.” Education tax credits include the American Opportunity Tax Credit and the Lifetime Learning Credit. The American Opportunity Tax Credit can reduce your tax bill by up to $2,500 per student. […]

How much money did you save last year? If your savings fell short of your goals, don’t give up. You can still take charge of your financial future. Here are tips to become a successful saver. ● Set goals. Give your saving a purpose. Do you want to accumulate an emergency fund with enough cash […]

Employee fraud can add significant costs add aggravation to your business.   How can you prevent employee fraud in your business? Here are four suggestions: Screen all job applicants. Check work references, criminal records, and professional recommendations. By instituting a screening policy, you may save a lot of cash and grief. Just remember to treat […]