As the end of the year approaches, your tax plan might involve selling assets to take advantage of beneficial capital gain rates, which can be as low as zero percent for 2011. The success of your planning efforts depends in part on knowing your investment in the property you’re selling. In tax terms, that’s your basis, which is used to calculate your gain or loss. Read the rest of this entry »
Are your beneficiary designations up to date? Do you even know which accounts have beneficiaries and who you’ve designated? It’s easy to lose track. But it’s important to keep them current. Here’s why. Read the rest of this entry »
In order to thrive it is not enough to survive but grow. But a growth strategy doesn’t necessarily have to be a high risk strategy. Too many company owners embark on an unnecessarily dangerous journey by trying to be everything to everyone. Read the rest of this entry »
Shedding unwanted pounds, recharging a golf score that’s stuck in neutral, nurturing a better relationship with your teenager — these resolutions and many more will appear on lists this coming January. Of course, some good intentions will fade before the flowers arrive on Valentine’s Day. Read the rest of this entry »
Did you celebrate a half-birthday during 2011? If so, your reward may be a required minimum distribution (RMD) — and you might need to act quickly to avoid a penalty. Read the rest of this entry »
It’s a fact. Many of your customers are chatting with one another and sharing information through social media, smart phones, and a variety of Internet applications and websites. For many companies, that very connectivity has resulted in greater sales. Read the rest of this entry »
Often our biggest constraint in business is ourselves. We try to personally take on the expensive tasks that would normally need to be outsourced so that we can preserve our cash resources for other needs within the business. Read the rest of this entry »
The sales tax deduction is available for 2011 tax returns. Here are answers to your questions regarding this deduction. Read the rest of this entry »
The latest updates to the estate tax rules that took effect in January introduced a new form and a new filing requirement. Read the rest of this entry »
In business, making pricing decisions is always tough — and even more so when the economy is slow and sales are slipping. It’s tempting to cut prices hoping to generate higher sales volume. But sometimes that just produces lower margins on a low volume. What do you do if you’re being squeezed by cost increases? Can you increase prices in a slow economy? How do you respond if your customers complain? Can you justify holding prices steady if your competitors cut their prices? Read the rest of this entry »
