Have You Included Incapacitation In Your Estate Plan?
Most people think an estate plan is for managing what happens to your assets after you pass away. That's an estate plan's primary purpose, but it's not the only purpose. You can also use your estate plan to manage a substantial risk that you could face near the end of your life. It's called incapacitation, and it's the inability to make or communicate decisions due to your physical condition. Incapacitation is often caused by cognitive diseases like Alzheimer's, but can also happen as a result of strokes, heart attacks, cancer, and more.
Starting A Business? 3 Basics To Understand About Payroll
If you are starting a business, you want to make sure that you understand the basics about payroll, such as what it is, what taxes you should collect, and how payroll services can help your business with this essential task. #1 Understanding What Payroll Is The first thing that you need to do is understand what payroll is. Payroll is the process of paying the salaries for each individual that works for your company.
3 Ways To Start Planning For Your Future In Your 30S
When you reach your 30s, you should no longer just be planning for the present, you should be planning for the future. Planning for the future means that you are making financial decisions that will benefit you down the road, and not just in the present. It is time to let go of instant gratification and start planning for the long-term. #1 Start That Savings Account It can be hard to talk about investing in your future when you do not even have a savings account.
Have To Pay Estimated Taxes? 4 Ways To Avoid IRS Penalties
If you're a small business owner or entrepreneur, you already know that you have to set aside and pay your own income taxes. But how much should you pay and when? While estimating your income can be difficult, the IRS does provide some guidance to make tax payments a little easier. Here's a guide to how to use that guidance to avoid penalties. 1. Use Last Year's Taxes. The IRS rules generally expect you to contribute estimated payments equal at least to 100% of the prior year's income tax liability.
Starting Your Own Accounting Business? How To Get Customers
You are a trained CPA, and you want to begin your own accounting service similar to Burkhart Peterson & Company. When you work for yourself, you can choose your own client base, work your own hours, and determine for the most part how much money you make. You need clients to become a successful accountant. When you work for an accounting firm, your clients are brought to you. When you work for yourself, you have to get clients on your own.
3 Reasons To Hire Help With Payroll Processing
Do you own a small business with a growing staff? If so, you are likely finding that you have more and more things to keep an eye on with each passing day. One of the most important things you have to be mindful of is processing your company's payroll. Employees aren't likely to keep showing up without a prompt paycheck that's paid out when it's supposed to be. If you find yourself struggling to keep up with every aspect of your growing business, it might be time to get some outside help.
4 Ways Income Taxes Can Help Seniors Boost Their Bottom Lines
Most American seniors rely on a limited income, and this means that it's vital to ensure you get any tax benefits to which you're entitled. But what should you look for out of your taxes to help make ends meet? Here are a few tax breaks all older Americans can get. Higher Filing Threshold. Americans generally aren't required to file taxes if their income is below a certain threshold. This threshold is equal to the standard deduction they can take.
Why Accountants Can Help With Basic Tax Filing
If you have a job but you also feel like your life is pretty simple, you might be confident in your ability to fill out and file your own taxes. Taxes are simpler when you have a basic job, few living expenses, no dependents, and no investments or property. However, you might still be paying too much in taxes, or you might miss some crucial tax credits that could help your quality of life.
Why Is It Beneficial To Hire An Accountant For Your Business As You Continue To Experience Growth?
When you initially started your business, you were probably the only person who handled all accounting aspects of the business. However, now that your business has expanded and you have hired numerous people to work for you while you bring in way more sales than you were getting in the beginning, it is going to be much better for you to hire an accountant to take on the financial aspects of the business while you focus more on a lot of other things, such as providing customer satisfaction, making sure products are of the highest quality, and putting effort into your marketing strategy.
Can't Afford To Save For Everything At Once? A Roth IRA May Make Life Much Easier
Most experts recommend that every American have an emergency fund worth at least six months' of income or expenses. But it's hard for those same Americans to save up that much — while also saving for things like retirement and college costs. So, what if you could save for all of them at the same time and with one vehicle? Here's how you can do just that with a Roth IRA.