Examine the balance sheet of most retail or manufacturing businesses, and near the top of the asset list you are going to find inventory. Raw materials, supplies, work in progress, and finished goods are all included in an accountant’s definition of inventory. This...
Mutual funds can have a complicated effect on income tax and can create undesirable year-end surprises if purchases or sales are poorly timed. For mutual fund investors, taxes are based on activities within each fund (with the exception of qualifying retirement...
Disaster-how do you plan for it? We never know when they will strike. You can decrease the impact of a disaster if you do some planning. Do not wait. Instead of having to reconstruct personal and business records in the aftermath of an unexpected calamity,...
As of Friday, December 19, President Obama signed the Tax Increase Prevention Act of 2014 into law. This includes tax extenders for both individuals and businesses. The extensions expire as of December 31, 2014. What will happen for 2015 remains to be seen, but if...
As of mid-July, we are currently sitting in health insurance “limbo.” The initial roll out of the Affordable Care Act, also known as Obamacare, is over. The 2015 open enrollment is a few months away and all is quiet on the insurance home front. During this...
Check the tax savings of combining business and pleasure on the same trip this summer. Within the U.S., if the primary purpose of the trip is business and you add on a side trip or an extra few days for pleasure, you can deduct all the travel costs to and from your...
