How to research a business customer’s creditworthiness

How to research a business customer’s creditworthiness Extending credit to business customers can be an effective way to build goodwill and nurture long-term buyers. But if you extend customer credit, it also brings sizable financial risk to your business, as cash flow could grind to a halt if these customers don’t make their payments. Even […]

November 28, 2019


Uncle Sam may provide relief from college costs on your tax return

Uncle Sam may provide relief from college costs on your tax return We all know the cost of college is expensive. The latest figures from the College Board show that the average annual cost of tuition and fees was $10,230 for in-state students at public four-year universities — and $35,830 for students at private not-for-profit […]

November 27, 2019


Thinking about converting from a C corporation to an S corporation?

Thinking about converting from a C corporation to an S corporation? The right entity choice can make a difference in the tax bill you owe for your business. Although S corporations can provide substantial tax advantages over C corporations in some circumstances, there are plenty of potentially expensive tax problems that you should assess before […]

November 25, 2019


At the very least, update the financials in your business plan

At the very least, update the financials in your business plan Every new company should launch with a business plan and keep it updated. Generally, such a plan will comprise six sections: executive summary, business description, industry and marketing analysis, management team description, implementation plan, and financials. Now, ideally, you would comprehensively update each section […]

November 21, 2019


IRA charitable donations are an alternative to taxable required distributions

IRA charitable donations are an alternative to taxable required distributions Are you charitably minded and have a significant amount of money in an IRA? If you’re age 70½ or older, and don’t need the money from required minimum distributions, you may benefit by giving these amounts to charity. IRA distribution basics A popular way to […]

November 20, 2019