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Business Advice

Is Your Worker a Contractor or an Employee?

Is a worker an independent contractor or an employee? This seemingly simple question is often the contentious subject of numerous IRS audits. As an employer, getting this wrong could cost you plenty in the way of Social Security, Medicare and other employment-related taxes. Here is what you need to know. As the worker: If you…

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Business Planning: The Hourglass Approach

Business Planning: The Hourglass Approach

When it comes to annual planning, businesses often spend too much time on the planning process or too little because they are busy with day-to-day operations. There’s a simple method called the “Hourglass Approach” that can help you efficiently focus on your goals and create a plan to achieve them. Top of the glass In…

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Becoming a Smarter Renter

Becoming a Smarter Renter

Becoming the renter of an apartment, condo or house; leasing a piece of equipment; renting business property; leasing a car: all involve the common practice of renting something that is owned by someone else. To make sure you always have a good experience, here are some hints to becoming a smarter renter. Read all agreements.…

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Is Your HSA a Retirement Tool? The Good, the Bad, and the Ugly

Is Your HSA a Retirement Tool? The Good, the Bad, and the Ugly

Health Savings Accounts (HSA) are a great way to pay for medical expenses, and since unused funds roll over from year to year, the account can also provide a source of retirement funds in addition to other plans like 401(k)s or IRAs. But be aware that HSAs have significant disadvantages when compared to other retirement…

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Reap The Benefits of Hiring Your Child For The Summer

Reap The Benefits of Hiring Your Child For The Summer

Hiring your children to work in your business can be a win-win situation for everyone. Your kids will earn money, gain real-life experience in the workplace, and learn what you do every day. And, you will reap a few tax benefits in the process. Before you decide if hiring your child is the right thing…

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Donate Stock to Lower Your Tax Burden

Donate Stock to Lower Your Tax Burden

  With U.S. equity valuations near historically high levels, now might be an opportune time to take advantage of the tax benefits of donating long-term appreciated stock to a qualified charity. Directly donating a winning stock you’ve held for at least one year provides greater tax benefits than writing a check to your favorite cause.…

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Recording Simple Expenses in QuickBooks Online

  How does most of the money you owe individuals and companies get disbursed? The simple expenses.  Do you print checks, or write them by hand? Use credit cards? Pay online through your bank’s website? Keeping track of your outgoing funds can be challenging, since there are so many ways to complete those transactions. But…

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Finances After the Death of a Loved One

Dealing with Finances after death of a loved one.

The last thing you want to be bothered with when you are grieving is sorting out the finances after the death of your loved one. Here are some suggestions to make the process a little easier. Prioritize. Focus on the most pressing tasks you face. Make sure you have access to the right accounts in order…

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Keep Your Audit Fears in Check

Keep Your Audit Fears in Check

  Audit fears are real!  Your chances of being audited are probably lower than you think. A look at the latest IRS statistics for 2016 reveals some interesting and reassuring facts about the risk of an IRS audit. Audits are becoming less common. The number of individual tax returns the IRS audited fell to a…

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4 Tips To Landing Your Dream Home In A Seller’s Market

Dream Home in Sellers Market

It’s a tough time to buy a house. With high prices and low supply, homebuyers have to tackle the buying process differently than they would in a flat or down market. Here are some suggestions to landing your dream home in our current real estate market. Be nimble, be flexible. Try to investigate new listings…

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