When deciding whether to include your children’s expenses into your household income, it is necessary to consider the following decision. Typically, child support was considered separate, set aside for the children, and not treated as income to the wife when...
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Month: December 2012
6 Types of Business Structures, Part 3
This is our final installment in this series, wherein we’re highlighting the pros and cons of each of the six business structures. Previously, we discussed Sole Proprietorships, LLCs, Cooperatives and Corporations. Today we’re happy to present S Corporations and...
6 Types of Business Structures, Part 2
Last week we began a three-part discussion on the pros and cons of the six types of business structures and their pros and cons. SBA.gov, our source, features additional information on each type of business structure, and you can read more by clicking on the structure...
6 Types of Business Structures, Part 1
When you’re starting a new business, there are many decisions to be made. One of the most important is what structure your business will have. Nothing is set in stone, but you don’t want to have to request to change this simply because the wrong structure was selected...
‘Taxmagedden’ looming as fiscal cliff nears: what you can do to be prepared
“Taxmagedden” is looming and if Congress fails to reach an agreement by December 31, 2012, current favorable tax laws will expire including: • The $5.120 million gift and estate tax exemption will drop to $1 million. • Estate tax rates will increase from 35.00% to...
Understanding Employer Identification Numbers (EINs) for New or Acquired Businesses
What is an EIN? An EIN, or Employer Identification Number, identifies your business entity to the federal government. In most cases, you will need an EIN if you are starting a new business or purchasing an existing business. You may also require an EIN, or a new EIN,...