Should you send your child off to college with a credit card? Opinions are divided, both among parents and financial advisors. It’s a situation that can work out really well or really badly, depending on the student and the parents. Read more
WASHINGTON – IRS Summertime Tax Tip 2012-16 – If the sweltering dog days of summer aren’t incentive enough to get out of the sun for awhile, the IRS suggests another reason to head indoors: organizing your tax records. Devoting some time mid-year to putting your tax-related documents in order may not only keep you out of the sun, but it should also make it easier for you to prepare your tax return when the filing season arrives. Read more
There is no income tax withholding on self-employment income, but that doesn’t mean you’re not required to pay taxes during the year. Read more
The figures on an income statement report the sales, expenses, and net profit or loss of a business. But these figures can be helpful in another way. They can be used to compute the breakeven point for the business. Knowing your breakeven point can help you run your operations more efficiently and profitably. Read more
Buying rare and precious coins can be an exciting hobby and, for some, a lucrative investment. Unfortunately, it’s also a business that’s rife with potential for con artists. As always, it’s wise to proceed with caution. Following a few simple guidelines can offer protection from unethical sellers. Read more
You’ve done your part. The job is complete, your customer is satisfied — but a month has gone by, and your invoice is still outstanding. You’d like to work with the customer in the future. So how do you get your money without losing the customer? Read more
There are many worthwhile reasons to lend money to a relative. For example, you may want to help a child or sibling continue their education or start their own business. Read more
Washington – IRS Summertime Tax Tip 2012-06 – Summertime is the season that often leads to major life decisions, such as buying a home, moving or a job change. If you are looking for a new job that is in the same line of work, you may be able to deduct some of your job hunting expenses on your federal income tax return. Read more
When your best friend views your nest egg as a source of start-up funds for his latest business venture, or your nephew hits you up for a car loan, your first impulse may be to reach into your bank account to help. But it’s a fact that loans to family and friends often end up straining both finances and relationships. Read more
The home office deduction is available when you use part of your home regularly and exclusively as your primary place of business, or for meeting clients. Read more