financial planning

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Employee v. Independent Contractor — Know the Difference

Employee v. Independent Contractor – Know the Difference As a business owner you have options as to how you…well, run your business. You can either hire employees who basically have to do what you tell them to do, or you can hire independent contractors who get you the results you want by doing the work[...]
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To keep or not to keep…those tax returns!

Are you like most people who have a “healthy respect” (aka nightmarish fear) of the IRS and have every receipt, every return, every writing implement ever used or needed for filing your last 35 years’ taxes? Has your filing system expanded from a drawer to a whole closet “just in case”? While that may be[...]
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5 Tips to Living Within Your Means

In a society incessantly bombarded by bigger, better, faster and keeping up with the Kardashians, it’s no surprise people everywhere – including the government – are literally drowning in debt. If you’re among those folks slipping out of their life jackets with the waters rising around you, your rescue is here! By following these four[...]
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How to Know if You Should You Incorporate Your Business or Not

One of the first decisions you face as a new business owner is whether or not to incorporate the business. The biggest advantage of incorporating is limitation of your liability. Your  responsibility for debts and other liabilities incurred by a corporation is generally limited to the assets of the business. Your personal assets are not usually at risk, although there[...]
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5 Ways to Improve Your Financial Situation

If you are having trouble paying your debts, it is important to take action sooner rather than later. Doing nothing leads to much larger problems in the future, whether it’s a bad credit record or bankruptcy resulting in the loss of assets and even your home. If you’re in financial trouble, then here are some steps to take[...]
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5 Tips to Reviewing Your Business’s Credit Policies for Greater Profitability

There are many ways to make your business more profitable, and sound credit policies are high on the list. The current slowdown in the economy is a good reason to reexamine your company’s policies. Keep the following items in mind as you review your policies. 1. Don’t be so eager to sign on new customers that you[...]
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Why Every New Business Needs a Record System

Many small start-up businesses are off and running before any record system has been set up. There is money deposited into the new business checking account, some from invested funds and some from sales. Money has been paid out for equipment and supplies, some by check and some by cash out of pocket or from sales receipts. This[...]
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