Planning for emergencies is like buying insurance: you pay into an account and hope you’ll never have to use it. But life happens. Cars break down. Roofs leak. Kids get injured. Having money in the bank to cover those unexpected expenses can reduce stress and...
If you operate a business out of your home, you may be able to take a deduction of a wide variety of expenses. These may include part of your rent or mortgage costs, insurance, utilities, repairs, maintenance, and cleaning costs related to the space you use. It can...
Hiring your children to work in your business can be a win-win situation for everyone. Your kids will earn money, gain real life experience in the workplace, and learn what to do every day. In addition, you will reap a few tax benefits in the process. Before you...
Building customer loyalty is a matter of focusing on the basics. Does your company need to refocus on any of them? Studies have shown that businesses often spend five to six times more to attract a new customer than to keep an existing one. Over the long term, those...
Many people think of a ‘dependent’ as a minor child who lives with you. This is true, but it’s important to remember that dependents can include, parents, other relatives and non-relatives, and even children who don’t live with you. Exemptions and your taxable income....
The difference between your tax bracket and your tax rate is more than a trick question. For example, knowing your tax rate gives you an accurate reflection of your tax liability in relation to your total income. Knowing your tax bracket is useful for planning...
