Cash and Non-Cash Payments To Employees
Business expenses are the costs a company incurs to carry out its trade, business, or profession. The IRS allows companies to deduct these expenses as long as the business tries to make a profit. In the previous chapter, the general requirements for deducting employee compensation expenses were presented.Everyone Needs a Family Office
One of the truisms that virtually everyone has heard is that ‘the rich get richer.’ Why is that? Well, in modern times one answer is that families of great wealth avail themselves of Family Office structures.A Brief Introduction to Captive Insurance
Over the past 20 years, many small businesses have begun to insure their own risks through a product called “Captive Insurance.” Small captives (also known as single-parent captives) are insurance companies established by the owners of closely held businesses looking to insure risks that are either too costly or too difficult to insure through the traditional insurance marketplace. Brad Barros, an expert in the field of captive insurance, explains how “all captives are treated as corporations and must be managed in a method consistent with rules established with both the IRS and the appropriate insurance regulator.Insurance Exit Strategies
There may come a time in an insurance policy owner’s life when they no longer have the same need for insurance that they did when they initiated the policy, or financial circumstances render such policies un-affordable. Ending the payment cycle on a term policy is as simple as not paying the premiums – like car insurance, the policy will only last up to the point where payments stop, at which point the policy will terminate. Of more import is the conclusion of an existing permanent policy.When Is An Expense Deductible?
To begin any discussion of business expenses, it is necessary to define when an expense is deductible. According to the IRS, a business expense must be both ordinary and necessary to be deductible. To be ‘ordinary,’ the expense must be one that is common and accepted in your field of business or trade.Understanding the Fundamentals of Getting Rich and Pulling Ahead in Life
Hello everyone, you probably have not heard of me, but I am one lucky guy who was able to turn tragedy into a fortune. It all started back when I was just 29 years old.What Does the Revenue Act of 1921 Have to Do With 1031s?
Learn more about the history of 1031 exchanges and the role they have played in the past as well as in the present. 1031 exchanges go back many years in the history of economic development.New Study Identifies the Economic Benefits of 1031 Exchanges
A new research study conducted this summer shows what many real estate investors already suspected: that 1031 exchanges are beneficial for the economy. Repealing 1031 benefits is something that legislators are toying with as a way to use the capital gains received from these sales to support overall revenue for the country. Many industry experts have argued this for years, especially as Congress has argued that 1031 exchanges are not that beneficial.Stop Working Hard and Grow Money on Trees
The rules of money have changed, and working hard for a living doesn’t work anymore. Today, it’s all about growing your money on trees!The Rules of Money Have Changed!
Many people are being financially destroyed today because they continue to play by the old rules of money. The rules of money changed in 1971. To survive and thrive today, you have to smarten up and play by the new rules!REITS and the 1031 Exchange: What You Need to Know
Learn more about the value of 1031 exchanges. More REIT investors are using these transactions today to get the capital gains deferral benefits you might be seeking.Top Benefits of Using a Financial Planner
In years past, a financial planner helped only the wealthy with money management issues. Today, many people can benefit from hiring this type of professional.What You Should Know About TFSAs
Tax Free Savings Accounts (TFSAs) are registered savings plans with the ability to earn investment income that is tax free. These funds can provide security for the future and financially prepare you for retirement.Tips for Hiring a Qualified Intermediary
Learn more about hiring a qualifed intermediary. Conduct this research before hiring someone to help with your 1031 exchange.7 Tips to Help You Manage Your Income and Start Saving Money
7 tips to manage income and save money that you can start today. Really watching how you spend your disposable income, can help save money when emergencies occur.