Cash flow refers to the balance available after allowing for all receipts and payments from your business. This includes, but is not limited to, rent, payroll, taxes, supplier invoices, loan payments, and asset purchases – the lot. Most of us know that managing and protecting cash flow as a small business owner is pivotal to long-term success. The inability to …
Most entrepreneurs eventually think about selling their businesses, whether as a prelude to retirement or to pursue other activities.
Have you been putting off your estate planning due to uncertainty in the tax law? Then you’ll be happy to hear much of the uncertainty has been eliminated by the American Taxpayer Relief Act of 2012.
Choices. They’re everywhere. In tax law, choices are called elections, and they can have consequences for your current return, as well as prior and future year returns. You may not even think of some tax choices as elections, such as deciding to file jointly or separately, using the standard deduction instead of itemizing, or filing for an extension of time …
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.
An executor is the person or legal entity that you appoint in your will to settle your estate after your death. It is common practice to name your spouse or one of your children (often the first born) to be the executor of your estate.
Since there are no federal income taxes imposed on the purchase of a business, as the buyer of an existing company your focus may be on other areas, such as obtaining credit or valuing inventory. Yet tax issues can impact your to-buy-or-not decision. Here are two examples. Outstanding tax liabilities. It’s generally true that when you buy the assets of …
Buying a business is easier than building one yourself but it has its own challenges. Despite the fact that buying is a more expensive proposition than building, banks will see it as a safer option because they can look at the business’s track record as a guarantee for future earnings to pay them back their interest and capital.
One day you may find yourself taking care of an elderly parent who is in declining physical or mental health. This can be stressful, both emotionally and financially.
Are you talking to your lender about restructuring or forgiving all or part of your business debt? You may be surprised to learn the outcome of your negotiations could lead to taxable income.
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