Can you use your 401(k) to start a business?
The answer is a very qualified yes. However, it’s not as simple as writing a check from your IRA. This Wall Street Journal article gives some basic guidelines. As the article clearly states, don’t do this on your own. Call us for professional help.Article excerpt “There are ways to use IRA and 401(k) funds to finance…
Read MoreWhat you can learn by adding (and subtracting) 8 zeros
Putting things into perspective by removing 8 zeros It’s amazing what simple math can show: An analysis of the numbers below reveals why the average household budget is far better managed than the budget in Washington! -Why S&P downgraded the US credit rating • U.S. Tax revenue: $2,170,000,000,000 • Fed budget: $3,820,000,000,000 •…
Read MoreHow to determine your “real” yield- a free spreadsheet
Things are rarely what they appear to be in the financial markets.Sometimes your real yield is what is left after the taxes have been paid. E-mail us for the free spreadsheet below to determine the effective yield ofa tax-free investment vs one that is fully taxable.
Read MoreBeware who defines “your fair share.”
Beware whom you permit to define what is your “fair share.” The definition will always be dependent on just how hungry the croc is when he finds you and your wallet.
Read MoreNo time for professional reading? We can help!
As we find useful articles on marketing your company, etc., we’ll post a review on your individual portal. Here’s a sample of a great book I recently read on common sense marketing [See this Link]. You’ll receive an email from us telling you that we added information to your portal and a Flag (like the…
Read MoreSmall business bookkeeping tool
For the small business, this one tool will track present a financial picture of all checks, deposits, wire transfers, and balance of your business accounts. Use this link. [Requires Excel 2007 or greater.]Small Business Record Keeping
Read MoreWhat could happen without a Will?
Sadly, this could be the legacy you leave to your heirs. Think about the results this would produce and then email us for some solutions. What Happens With No Will? LAST WILL AND TESTAMENT OF JOHN DOE (WHO DIED WITHOUT A WILL) I, John Doe, of Nimrod, Missouri, hereby do make, publish and declare this…
Read MoreThe one time that it’s good to be average
Here are the average deductions, by level of income, based on the latest available IRS stats. Average Itemized Deductions Adjusted Gross Income Medical Expenses Taxes Interest Charitable Contributions $15,000 to $30,000 $7,074 $3,147 $9,245 $2,189 $30,000 to $50,000 $6,153 $3,830 $9,055 $2,189 $50,000 to $100,000 $7,102 $6,050 $10,659 $2,693 $100,000 to…
Read MorePlanning for the unexpected in the chess game of Life
A Will to Live by It’s never too early to make a living will. Have you started one? By Rosemary Carlson • Bankrate.com [Breaking news- The Georgia State Bar has made available a free sample medical directive for your use. E-mail us for a free copy.] It could happen at any time. Walk across the street and…
Read MoreCan you deduct more than you paid for something?
Most of the time we’re stuck with tax cost being what we paid for a stock, asset, real estate, etc… but sometimes this can change.
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