Are you a new business owner? You may be wondering how to pay yourself from your business. The answer depends on the way your business is set up. Here are common methods for making payments to business owners. Corporations If you own a traditional C corporation, your salary is subject to income and payroll taxes. [...]
Net worth is a familiar term, but you may not calculate or watch it in the same way you track your income. Yet net worth is a valuable measurement tool for overseeing your financial success. In a nutshell, net worth is total assets less total liabilities, such as debts. Here's an example. Say your [...]
Do you give your child an allowance? A recent report by the American Institute of Certified Public Accountants showed that more than two-thirds of American households provide an allowance to children, and that the allowances average $68 per month in exchange for six hours of household chores. If you're considering giving your child an allowance, [...]
When it comes to fraud, the old adage about a small amount of prevention being worth a large amount of cure is spot on. Investing in fraud prevention methods can be more cost-effective than spending time and money on clean-up after a fraud has been detected. Here are suggestions to help prevent fraud in two [...]
A good employee is a valuable company asset, and no doubt you want your employees to be as productive as possible – which is why a suggestion to boost productivity with time off might sound counterintuitive. Paid time off (PTO) can be a critical component of your employee benefits package. Besides the obvious perk to [...]
If getting more energy efficient at home or work is on your to-do list, let Uncle Sam help get things kick-started with some timely tax incentives. One example: you can claim a tax credit equal to 30% of the cost of a qualified solar-electric system if the system is installed this year. In some cases, [...]
Are you making summer plans for visiting your vacation home? If so, do you have to schedule your stay around dates reserved by paying guests? When you use your vacation home personally and also rent it during the year, you may need to be aware of special tax rules. But there's a benefit to knowing [...]
A good credit history is nearly indispensable. Without it, you'll have trouble buying a car, renting an apartment, and perhaps even getting a job, since some employers order job applicants' credit reports. Here are ways to establish a good record. Start by ordering free credit reports from the three major credit bureaus. What's the point [...]
Regardless of the current economic outlook or the size of your organization, as an astute business manager, you're always searching for ways to reduce expenses and increase the bottom line. Here are suggestions for using your computer to reduce marketing and operational expenses and help achieve that goal. Take advantage of free advertising. Consider listing [...]
Taxes are an important part of the decision to own real estate. Here's a brief overview of tax benefits you can realize while you own real property, as well as when you sell or otherwise dispose of the property. Current expenses. As a rental property owner, you can deduct current expenses to offset the tax [...]
