Summary: There’s money in multitudes. The innovation of crowdfunding inverts the standard pattern of financing, which relies on a limited, select group of affluent participants. Click through for details on what may be the wave of the future. In brief, crowdfunding democratizes the traditional fundraising approach by expanding to a wider audience ready to contribute […]
Summary: Retiring with no monthly mortgage payment sounds like a good financial plan, right? Usually. But there are times when not rushing to pay off your mortgage balance before retirement makes financial sense. Click through to know what’s right for you. For many people nearing retirement age, it makes financial sense to pay off their […]
Summary: Form W-4 is completed by your employees, determining how much should be withheld from their paychecks. Choosing the correct amount of withholding is essential. Click through to learn how to guide your employees through completing the form. On your employee’s first day on the job, you are required to ask them to complete federal Form […]
Summary: If you itemize deductions on your tax return, don’t overlook medical and dental expenses. You may have had more expenses than you realize, and savings can be substantial. Click through for an introduction to a valuable tax provision. You can deduct medical and dental expenses on your Schedule A to the extent they exceed […]
Summary: As family business owners and sole proprietors approach retirement, they may face an existential dilemma: What will happen to my business when I no longer manage it? Click through for some advice on involving adult children in the transition. What, in fact, constitutes a family business? The definition covers any enterprise operated by two […]
Summary: Planning a trip outside the U.S.? Travel medical insurance isn’t required, but in some situations, it’s a smart precaution. Click through to explore when it makes sense to consider purchasing this coverage. Most U.S. citizens have health insurance, but their plans usually provide no or extremely limited protection if they are not in the […]
Summary: A family business is owned by people who are all related to one another. But who should take over when the owner passes away or steps down? Click through to learn about what you can expect regarding the inheritance of a family business. Fairness isn’t always about equal shares — it’s often about what […]
Summary: Does your child have income from investments, savings or gifts? You might be surprised to learn that the IRS may expect a tax return from them. Click through to find out how to stay compliant and avoid unexpected tax bills. We generally assume that children aren’t required to pay taxes. But if your child […]
Summary: Do you trust that your payroll process is efficient, reliable and consistent? It doesn’t hurt to revisit your payroll process to make sure it’s as robust as possible. Click through for insights into common payroll mistakes and how you can structure your process to avoid them. Your employees expect their paychecks to be accurate […]
Summary: Ready to learn about the best tax break you’ve never heard of? These days, you can rent out your home for up to two weeks per year without having to report the rental income. Click through to learn more about this IRS tax rule. Originally created to protect the residents in Augusta, Georgia, who […]