Restructuring debt has become a common approach to personal financial management. But many people fail to realize that there’s often a tax impact to debt relief. And if you don’t anticipate it, a winning tax return may turn into a losing one. LESS DEBT, MORE INCOME Income tax applies to all forms of income – [...]
Like many taxpayers, you probably feel a sense of relief after filing your tax return. But that feeling can change if, soon after, you realize you’ve overlooked a key detail or received additional information that should have been considered. In such instances, you may want (or need) to amend your return. Typically, an amended return [...]
Preserving and managing family wealth requires addressing a number of major issues. These include saving for your children’s education and funding your own retirement. Juggling these competing demands is no trick. Rather, it requires a carefully devised and maintained family wealth management plan. START WITH THE BASICS First, a good estate plan can help ensure [...]
If your company’s sales results were a dance floor, how would it look? Are the numbers jumping off the page, dazzling you with their lively performances? Or are they slow, sluggish – perhaps even disappearing entirely? To keep the party moving, every business needs to regularly remix its line of products or services. There are [...]
Many people want to do something, however small, to contribute to a healthier environment. There are many ways to do so and, for some of them, you can even save a few tax dollars for your efforts. Indeed, with the passage of the Protecting Americans from Tax Hikes Act of 2015 (the PATH Act) late [...]
QuickBooks’ structure is universal enough to appeal to millions of small businesses. Custom fields help you shape it to meet your company’s unique needs. If you’re using QuickBooks, you probably know that you’re complying with the rules of double-entry accounting. The software is designed such that you can be compliant with these requirements without even [...]