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As top lines shrink and gross profit margins decline, contractors find themselves challenged not just to make money but simply to survive. Major uncertainties have almost everyone holding on to cash and reluctant to grow. So how do you stay afloat? Here are some ideas.
Legal fees paid to successfully sue a former employer have been allowed as deductible by the Tax Court.
Businesses worldwide are in the early stages of trying to figure out just how LinkedIn, Facebook, Twitter and other social media can best be used to enhance their businesses. At this point, many companies are still taking a wait-and-see attitude, looking at ways other organizations are using social media to do their work more efficiently.
A yearly audit from your CPA cannot and should not be replaced by internal auditing. But it's still an important step that can save your company. After all, there is plenty of time between annual audits for fraud perpetrators to spirit away your assets.
Americans are more environmentally aware than in the past, but just how green is America going? A survey of more than 2,000 Americans by Consumer Reports National Research Center found some environmental measures have been embraced on a broader scale than others.
Investors who favor fixed-income securities need to keep their "two eyes" on the "two I's" - interest rates and inflation.
| Wealth Advice and Financial Planning |
Recreational gamblers are generally aware of the rule that limits their tax deduction for gambling losses to the amount of their gambling winnings. However, questions have arisen as to the timing of that determination. Do you calculate your winning/losing after every bet, at the end of each gambling session, daily, weekly or even less often?
It's inevitable that someday you, and any partners you may have, will transfer your business to another owner. With prior planning, you can transition your ownership interests in an orderly, planned fashion. But, what would happen if you died, divorced, became disabled - or suddenly withdrew from the business without a succession plan in place? Who would decide who takes control of your ownership interest and how much it is worth? You? Your estate? Your partner? Your ex-spouse's attorneys? The IRS? And, how would the same questions be answered if your partner was the departing party?
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