There are quite a few ways to get cash, compensation or benefits out of your company. Each method may have different tax implications and of course, there is no single set of tax-savings strategies that work for everyone. However, if you stick to the “reasonable” test authored by the IRS (ordinary and necessary expenses paid
A home based business provides numerous opportunities to convert personal non-deductible expenses into deductible business expenses. For many home based businesspeople, taking the home office deduction is a major financial incentive to start businesses in their home, and it can have a significant and positive effect on the home ased business’s financial position. To qualify
Working from home may sound like fun, but what happens when the 1,000 distractions get in the way, or you're simply feeling unproductive? Your business is going to suffer. Here are six time management tips to ensure greater success: 1. Create a sustainable routine that signals the beginning and the end of the work
Do you know that the biggest chunk of money most people ever put in one place is the money they hand over to the US government? If you were to make $50,000 a year over a 30-year career, you would pay about $600,000 in Federal, State and local taxes. The interest you would
Hiring your professional tax preparer is like hiring any other employee: You wouldn’t do it without a thorough interview or checking their references. Once you have narrowed your choices down to at least a minimum of three, schedule a face-to-face meeting with the most promising candidates to find out the following: You need to
Your financial picture constantly changes so you must constantly review and redesign your plan to keep up with those changes. Assets are added, others are sold or gifted. Your obligations change. So too the legal and financial hazards you face. With time your financial goals and priorities also change. Equally important, asset protection strategies of
From the 24 year-old just beginning her career to the multigenerational family with hundreds of millions in assets, the variation among our clients is astounding. Nonetheless, each, in his or her own way, needs some degree of Wealth Protection Planning. Whether it means developing a better risk/reward ratio in an investment portfolio, saving for college
Every action tells your story. Business practices that are trusting, trustworthy, and cooperative, not opportunistic, communicate the integrity and trustworthiness of your business. It is increasingly important for companies to deal with ethics as a corporate strategy that, when uniquely implemented, achieves competitive advantage. These days, every business should have a written code of ethics.
Each year, I have the distinct pleasure to guest teach the Social Entrepreneurship class at the University Nevada Reno. In doing my research on what I wanted to share with the students, the topic of social entrepreneurship and/or social enterprise boils down to this: starting or operating a business that makes money and gives back