You’ve done the right thing and developed a nest egg. But, do you know what to do with it now that you have retired? Unfortunately, many retirees make the mistake of being too frugal, because they do not know about recommended personal financial planning guidelines. If you have stopped working recently, learn how to strike the right balance in spending your savings.
The recent tax code changes will go into full effect this coming tax season. While there is likely to be some confusion, income tax preparation may actually be easier for millions of individuals. The IRS estimates that the average time to complete an individual tax return will decrease by four to seven percent this year.
If you are looking to invest, there are many ways to make money. One commonly overlooked method is owning a residential rental property. It is quickly becoming a more popular investment option, because it generates income, appreciates in value and provides many tax benefits.
Generally Accepted Accounting Principles (GAAP) are a collection of commonly-followed accounting standards that are typically used in the preparation of financial statements. GAAP improves consistency and transparency through the definition of principles and some industry-specific rules.
Topics: Business Accounting
The earlier you can start investing, the better off you will be financially in retirement. Whether you recently graduated college or you just bought your first house, you can benefit from these basic millennial investing tips to help you grow wealth over time.
Individuals and business owners tend to think differently about investing. With company assets and a legacy to consider, small business owners benefit from developing investment strategies that enhance income rather than supplement it.
Last month, New York and three other states filed a federal lawsuit to prevent a reduction in the State and Local Tax (SALT) deduction, which was included in last year’s tax reform package. The new SALT cap, which is part of the 2017 tax reform law, could cost Long Island homeowners thousands of dollars at tax time.
Rapid business growth is the goal of many owners, but it can come with its own set of problems. Whether you overextend your budget or fail to keep up with demand, the consequences of missteps at this stage can be fatal. If your company is expanding and you would like to keep it that way, try these five simple strategies for business leaders.
Are you new to budgeting or searching for a money management solution to fit your lifestyle? Maybe, you should try the 50 30 20 budget. It’s a great way to develop a balance between the money you spend on obligations, goals and splurges.
Small business owners don’t have it easy. Within the first 18 months, eight out of 10 new companies close their doors for good. One major reason is an inability to balance the books. If you are an aspiring entrepreneur, your company will have a much better shot at success if you learn how to manage finances the right way.