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Sole Proprietorship – Is The Risk Worth It?

June 30th, 2015

Article Highlights: Reporting Sole Proprietorships On Your 1040 Business Checking Account Local Business Licenses Resale Permits & Payroll Reporting Personal Liability If you are considering starting a business, the simplest and least expensive form of business is a sole proprietorship. A sole proprietorship is a one-person business that reports its income directly on the individual’s […]

Gifting Money or Property Can Have Serious Tax Consequences

June 16th, 2015

Article Highlights: Gift and Inheritance Tax Lifetime Exclusion Annual Exclusion Gift and Inheritance Basis Issues Additional Tuition & Medical Exclusion Gift and inheritance taxes were created long ago to prevent an individual’s assets from being passed on to future generations free of tax. Congress has frequently tinkered with these taxes, and currently the gift and […]

Accounting Terms: Understanding the accounting term EBITDA and how to use it.

June 2nd, 2015

The accounting term EBITDA is an acronym that is widely used. It stands for Earnings Before Interest, Taxation, Depreciation, and Amortization, and it is an extremely helpful tool for understanding how one business or industry is faring based on comparing it to others that are doing the same thing. EBITDA’s value lies in the fact […]

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