Asset Sustainability Facts You’ll Regret Not Knowing
A recent survey published by Merrill Lynch’s Private Banking and Investment Group uncovered alarming statistics with regard to the universal goal of sustainability. “The Meaning of Sustaining Wealth” was a survey that included 171 participants, meant to gain insight...
Is a 529 Savings Plan Right for Your Grandkids?
A qualified tuition plan, more commonly known as a 529 savings plan, is a tax-advantaged savings plan that helps people save for future college costs. Starting a 529 savings plan is the preferred method of college savings for many Americans, and they can be opened by...
How to Help Grandkids Pay for College
Grandparents who are trying to help grandkids pay for college may need to be concerned about whether or not their gift will detract from the financial aid for which the grandkids may be eligible. However, some grandparents needn’t worry about that, because if their...
Best Ways to Give Money to Grandchildren for College
It’s no secret that college is often the biggest expense a student will ever encounter. For a recent high school grad, looking the potential heaps of college debt in the face probably feels pretty daunting, but many students are fortunate enough to have family to lean...
You Need to File FAFSA! Here’s Why…
A college education is more expensive now than ever before, and it doesn’t look like the cost of tuition will be going down anytime soon. One of the most important things for an incoming college student to do is file the Free Application for Federal Student Aid,...
How a Buy-Sell Helps to Buy Out a Partner
<-- Return to the first page of how a buy-sell agreement helps to buy out a partner More Ways a Buy-Sell Agreement Will Help Buy Out a Partner Retirement Suppose that Steve decides that after years of hard work and dedication, he wants to retire so that he can...
Why Your Company Needs a Buy-Sell Agreement
When you don’t have any partners in owning your business, it’s far less complicated to shut down or sell off the business if you’re ready to move on to something else. However, for businesses with more than one co-owner, one of the most important agreements to...
Do I Owe Tax on Gifted Assets? Carryover vs. Step Up in Basis
What happens when I’m gifted cash or another valuable asset? What about when I receive an inheritance of some kind? Carryover basis? Step up in basis? What does that even mean? These are questions that you may wind up asking one day, because our tax laws are often...
Why You Should Take Investment Risks
There are several strategies to consider when planning your investments, many of which are dependent on the length of your investment term. Oftentimes, investors will opt for the lowest possible investment risk because they’re afraid of downturns in the market, but...
Contractor Accounting Methods Built to Your Specifications
Construction contractors typically work on different type, size and length contracts. Depending on these variables, recommended contractor accounting methods may differ. Before filing a Federal tax return, construction contractors of any business structure (sole...
Strategies for Controlling Food Costs in a Restaurant
Monitoring food cost, the percentage of total restaurant sales spent on food product, is critical to a restaurant’s success. By monitoring inventory, eliminating waste and ordering wisely, controlling food costs effectively can be simple and easy. Controlling food...
A Construction Accountant Sifts Through Complex Bills
Unlike many other industries, accounting for the construction companies does not just include a regular series of debits and credits. Instead, a construction accountant uses a system that is designed to match income and expenses to the varying length and size of...
Understanding a Profit and Loss Statement for Restaurants
A restaurant profit and loss statement displays a business’ revenues and costs over a specific period of time. This important ledger can effectively track business growth, if you know exactly what items belong in a profit and loss statement. Since understanding a...
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