Before adding bonds to your portfolio, it’s important to know some basics about how they work and the significant variations that exist among bonds. What follows is an overview. Bond Basics Bonds are essentially IOUs, issued by federal, state, and municipal governments as well as by corporations and governmental agencies. They are intended to raise revenue for a wide variety of activities. Governments issue bonds to finance the construction of… Read More
What to Do if Your Business Owes Back Taxes
If you missed a tax deadline or simply couldn’t afford your small business tax bill and got behind, you could face penalties and other issues. This article provides vital information to help you get your financials back on track. What can happen to your small business if you owe back taxes? Depending on your business type, any small business taxes you owe are due by the standard tax deadlines of… Read More
How to Handle Rental Income Taxes
A unique set of tax responsibilities are associated with rental properties. If you own rental property, read on to learn more about your tax obligations related to rental income. What is Rental Income? Rental income is any payment you receive for the use or occupation of your property. While rental income is taxable, that does not mean that every penny you collect in rent is taxable. You can reduce the… Read More
What You Need to Know About IRAs
Individual retirement accounts (IRAs) are retirement savings accounts that help people prepare for their future financial security in a tax-advantaged manner. They are relatively easy to open, contribute to, and invest in. There are two main types of IRAs — traditional IRAs and Roth IRAs. Each has different tax benefits and eligibility requirements. Here’s what you need to know to help you determine if an IRA could play an important… Read More
What Businesses Should Expect From Higher Interest Rates
The historically low interest rates that Americans have enjoyed over the last several years could well become a thing of the past as actions taken by the Federal Reserve to curb inflation make their way through the broader economy. Here’s a look at the potential impact on small businesses and some steps they may need to take to ensure their viability. Prepare for a Decline in Sales Paying more interest… Read More
Can Your Company Survive a Disaster?
Fire, floods, hurricanes, earthquakes. When they happen, they can destroy buildings, equipment, and hard-to-replace data, and even injure or kill employees. It can take a business weeks, sometimes months, to resume operations after a disaster. Some businesses never recover. You can’t pin down the time or day when a disaster may strike your business. However, you can certainly prepare for one. Preparing for a disaster can minimize the potential damage… Read More