Hold on to Your Tax Returns Hold on to Your Tax Returns.  You should always keep a copy of your tax return for your records. You may need copies of your filed tax returns for many reasons. For example, they can help you prepare future tax returns. You’ll also need them if you have to.. read more →

Tax Tips for Starting a Business   Tax Tips for Starting a Business.  When you start a business, a key to your success is to know your tax obligations. You may not only need to know about income tax rules but also about payroll tax rules. Here are five tax tips that can help you.. read more →

Leaving a Business: Which Exit Plan is Best? Selecting your business successor is a fundamental objective of planning an exit strategy and requires a careful assessment of what you want from the sale of your business and who can best give it to you. There are four ways to leave your business: transfer ownership to.. read more →

INTEREST RATES CAN AFFECT YOUR TAXES Interest Rates Can Affect Your Taxes.  Do you keep up with fluctuations in interest rates? The IRS does too, and changes in those rates could affect your tax return. For instance, applicable federal rates, or AFRs, are published by the IRS to set a minimum interest rate for certain.. read more →

Tax Planning for Small Business Owners Tax Planning for Small Business Owners. Tax planning is the process of looking at various tax options to determine when, whether, and how to conduct business and personal transactions to reduce or eliminate tax liability. Many small business owners ignore tax planning. They don’t even think about their taxes.. read more →

THE AFFORDABLE CARE ACT: KNOW THE TERMS The Affordable Care Act: Know the Terms. Are you still unclear about your responsibilities as an employer under the Affordable Care Act (ACA)? Do you find the definition of ACA terms confusing? Here’s a plain English guide to selected terms employers are likely to hear. Applicable large employer… read more →

Cash Flow: The Pulse of your Business Cash Flow: The pulse of your business that affects your success. Cash flow is the lifeblood of any small business. Some business experts even say that a healthy cash flow is more important than your business’s ability to deliver its goods and services! While that might seem counterintuitive,.. read more →

MONITOR YOUR ACCOUNTS RECEIVABLE Monitor your accounts receivable is very important. Monitoring your accounts receivable may seem like one more chore in an already busy workday. But this simple activity is important. Here’s an illustration. Say you’re operating with a gross profit margin of 20% and your uncollectible receivables are $10,000. Your business must generate.. read more →

UNDERSTAND BUSINESS FINANCIAL RATIOS Financial ratios provide a useful way to pinpoint strengths and weaknesses in the performance and solvency of your business. Here are four types of ratios that you can monitor using the figures from your balance sheet. Liquidity ratios, such as the current ratio, measure the ability to pay bills over the.. read more →

Self-Employed? Start saving for retirement Self-Employed? Start Saving for Retirement. If you’re self-employed, retirement may be the last thing on your mind. When financial gurus recommend setting aside 15-20% of your income toward retirement, your eyes may glaze over. After all, as an independent contractor or small business owner, you know income is often sporadic… read more →