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Archive for May 2015

Life Insurance? Get the Tax Facts!

You may think of life insurance as income-replacement protection for your family in the event you or your spouse dies. But what are the tax implications of life insurance? Here are four rules to know. Death benefits. Normally, death benefits paid under a life insurance policy aren’t subject to income tax. But this isn’t a…

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How Profit First Can Separate the Ingredients of Financial Gumbo

Recently, I told you how my young business lacked a plan and was held together by Band-Aids and Duct Tape. But then, this marvelous book Profit First came into my periphery. This week, I want to share more about Profit First. To recap, the standard GAAP (Generally Accepted Accounting Principles) equation for finances is: Income –…

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