Manage Capital Gains Tax Tips

If not tracked and managed properly, capital gains tax can come as a large surprise at tax-filing time. In fact, many taxpayers don’t realize they have a capital gain until they get their 1099 form in January and see a capital gain distribution. Here’s what you need to know. Understand capital gains and their taxability…

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Setting Up Your Business Accounting System

You’ve done the hard work. You have a new business idea or you’ve found an existing business to purchase. Want to help ensure your business success? Pay attention to correctly setting up your business’ accounting system. Here’s how: Consider business entity. Choosing the right legal and tax entity for your business is important. Consult experts…

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Are You Sharing Too Much Information Online?

In today’s digital age, it is impossible to avoid the internet. Even if you don’t have a computer and actively avoid social media, there is information about you in some corner of the web. Here are some tips to help you manage your digital footprint: Actively manage your security settings. Every app, social media site…

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Dramatic Sales Tax Change

The U.S. Supreme Court issued a ruling in the South Dakota vs Wayfair case that opens the door for states to impose sales tax on sellers outside their borders. The case highlights a new standard of business presence called “economic nexus” that may have major implications for businesses and consumers alike. Economic nexus explained The…

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Useful Online Productivity and Security Tools

Here are several popular free or inexpensive online tools that can help manage and protect your online activities. They range from password management tools to security protection services. Password Managers A decade-old study by Microsoft estimates that the average person memorizes about six passwords and reuses them over and over. Today most people use dozens…

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Elements of a Good Business Partnership

Like a bundle of sticks, good business partners support each other and are less likely to crack under strain together than on their own. In fact, companies with multiple owners have a stronger chance of surviving their first five years than sole proprietorships, according to U.S. Small Business Administration data. Yet sole proprietorships are more…

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How Long Will It Last? Planning to replace common items.

Part of financial planning is having a good sense of how much it will cost to replace your possessions when they break down or wear out. But many of the big-ticket consumer products may cost more to replace and wear out sooner than you think. An essential part of financial planning is to budget replacing…

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The New Small Business Family Medical Leave Credit

There’s a new business tax credit that partially reimburses employers for providing paid family and medical leave for select employees. But small businesses should be informed before they try to use this new Family and Medical Leave Act (FMLA) tax break. Basics of the new credit Employers who provide at least two weeks of paid…

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Overlooked Business Metrics To Keep Your Eye On

Revenue, gross margin, net profit — these are the basic metrics every small business owner watches closely. But there are also some often-overlooked metrics that can deepen your insight into your business and inform your decision-making. Here are a few: Customer acquisition cost Divide the total amount of money you’ve spent on marketing over a…

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Get Your Small Business Off The Rocks

Every small business eventually hits a rough patch. It’s easy to get discouraged when it happens. But look at the upside: you have infrastructure in place, you have existing customers and most importantly, you have the hard-won experience of knowing what works and what doesn’t. With that in mind, here are some ideas to get…

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