Have you heard of the “Saver’s Credit”? You may have heard it called by its formal name- Retirement Savings Contribution Credit. This credit allows low-to-moderate income workers to save two ways for the same amount. We have listed 6 tips you should know about this credit: Save for retirement. You may be able to claim this tax credit in addition …
Be on the lookout for 2 tax forms: Form 1095-B ( sent by health insurer) and Form 1095-C ( sent by larger employers). If you received subsidies in 2014 to reduce the cost of health care, look for Form 1095-A. If you were uninsured for part of, or all of, 2014 look for Form 8965( exemptions). If you need help …
A 2014 poll taken by the Federal Reserve shows that many Americans are not financially prepared for retirement. More than 5,800 Americas were polled and here are the astonishing results: 33% of Americans work with no savings plan or pension 38% have no intention of retiring or they plan to keep working for as long as possible 65% say their …
Most small businesses owners will, at some point in their life, go to a bank or other lending institution to borrow money for expansion of their operation. Unfortunately, many of them will fall victim to several of the common, but potentially destructive myths that concern applying for loans such as: Lenders are lined up and eager to provide money to …
Many companies offer a variety of employee benefits to their staff in order to keep them satisfied. The types of benefits include, but are not limited to, health insurance, retirement plans, vacation and sick leave. This Financial Guide provides an overview of the types of benefits that businesses provide for employees and what’s involved in offering them. What Is An …
The decision as to which type of business organization to use when starting a business is a major one. And, it’s a decision to be revisited periodically as your business develops. While professional advice is critical in making this decision, it’s also important to have a general understanding of the options available. This Financial Guide provides just such an overview. …
Who should form an LLC? Should I choose an LLC or an S corporation? What is an LLC Operating Agreement? Do I need to have an Operating Agreement? Must I hold LLC meetings? Exceptions to Limited Liability Who should form an LLC? You should consider forming an LLC (limited liability company) if you are concerned about personal exposure to lawsuits …
“People don’t care how much you know until they know how much you care.” It’s interesting to see how many small businesses try as soon as possible to follow the example of some large corporations to build an impersonal “corporate image.” People actually prefer to do business with people, not institutions. The last time you called an organization with a …
One of the biggest hurdles you’ll face in running your own business is staying on top of your numerous obligations to federal, state, and local tax agencies. Tax codes seem to be in a constant state of flux making the Internal Revenue Code barely understandable to most people. The old legal saying that “ignorance of the law is no excuse” …
Combining the Best Aspects of Partnerships and Corporations A Limited Liability Company, or LLC, is not a corporation, although it offers many of the same advantages. An LLC is best described as a combination of a corporation and a partnership. LLCs offer the limited liability of a corporation, while allowing more flexibility in managing the business and organization. An LLC …
