Monthly Archives: August 2012

Watch out for scams if you invest in coins

Buying rare and precious coins can be an exciting hobby and, for some, a lucrative investment. Unfortunately, it’s also a business that’s rife with potential for con artists. As always, it’s wise to proceed with caution. Following a few simple … Continue reading

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How to get slow-paying customers to pay up

You’ve done your part. The job is complete, your customer is satisfied — but a month has gone by, and your invoice is still outstanding. You’d like to work with the customer in the future. So how do you get … Continue reading

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Tax rules apply to family loans

There are many worthwhile reasons to lend money to a relative. For example, you may want to help a child or sibling continue their education or start their own business. But lending money to relatives can have tax consequences. The … Continue reading

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What to consider before lending money to family and friends

When your best friend views your nest egg as a source of start-up funds for his latest business venture, or your nephew hits you up for a car loan, your first impulse may be to reach into your bank account … Continue reading

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Can you qualify for the home office deduction?

The home office deduction is available when you use part of your home regularly and exclusively as your primary place of business, or for meeting clients. If you’re an employee who works from home, there’s an additional rule: The exclusive … Continue reading

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Check your 2012 withholding

Withholding too much tax from your wages isn’t a smart financial move. Match your withholding as closely as possible to your actual tax liability for the year, and invest the extra money for yourself, not the IRS.

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Business Tax Tip

Keep repairs separate from major improvements. Ordinary repairs and maintenance on business equipment and buildings are deductible business expenses. Improvements which materially add to the value of the property or significantly prolong its useful life must be depreciated over a … Continue reading

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