Entries by baybiz

Update your beneficiary designations

Who have you designated as beneficiaries for your insurance policies and retirement accounts? If you can’t remember, you’re not alone. But it’s worth checking. If you make the wrong decision, it could affect who inherits those assets. In some cases, it could also change the taxes your beneficiaries will pay and the value they’ll receive. […]

Check your tax withholding for 2015

Withholding too much tax from your wages isn’t a smart financial move. Review how much you’re having withheld in 2015 to see if it matches the actual tax liability you expect to have. If an adjustment is needed, file a new Form W-4 with your employer.

Not all “income” is taxable

There are several sources of revenue that are not subject to income tax. Here are the most common sources of money that are not taxed on your federal income tax return: * Borrowed money such as from banks or personal loans. * Money received as a gift or inheritance from family or friends. * Money […]

Is your business using part-time workers?

Recent job statistics indicate that more employers are using part-timers to deal with variations in workload and for short-term projects. Here are a few tips your business will find useful if you hire part-time workers. * Communicate clearly with the part-timer. Explain the person’s duties, the hours and benefits, and the individual to whom the […]

There are many ways to make your business more profitable, and sound credit policies are high on the list. The current slowdown in the economy is a good reason to reexamine your company’s policies. Read more.

There are many ways to make your business more profitable, and sound credit policies are high on the list. The current slowdown in the economy is a good reason to reexamine your company’s policies. Keep the following items in mind as you review your policies. * Don’t be so eager to sign on new customers […]