When making financial decisions, do you consider the time value of money? If you have a basic understanding of time-value concepts, you’ll be able to make better choices in many business and personal financial situations. * Here’s an example. Say you want to sell a piece of property for $10,000 cash. A potential buyer offers […]
Spring and summer — the wedding season is upon us. Before walking down the aisle, take a minute to consider a serious matter. Couples often enter into marriage without ever having had a discussion about financial issues. As a result, they find themselves frequently arguing about money. If you are planning a wedding, here are […]
* The Obama’s 2011 tax return reported adjusted gross income of $789,674. Their tax liability was $162,074, giving them an effective tax rate of 20.5%. * The average tax refund on returns filed for 2011 was $2,983. * For this tax filing season, the IRS had 5,000 fewer employees than it had a year ago. […]
The IRS wants to educate new small business owners about their federal tax responsibilities. “Understanding and meeting their tax filing requirements is one of the biggest challenges faced by people starting out in business,” says the head of the IRS Small Business Division. Among the common tax issues that can trip up new business owners: […]
Taxpayers who are struggling to pay their taxes may get some relief from the IRS’s expansion of its “Fresh Start” initiative, a program started back in 2008. The new Fresh Start provisions provide penalty relief to the unemployed and make installment agreements on taxes owed available to more people. Normally, a failure-to-pay penalty of one-half […]
If you missed the April 17 tax filing deadline for your 2011 return, the IRS has some advice for you. First, don’t panic. But do file your return as soon as possible. If you owe money on the return, the penalty for late filing and interest on the amount you owe will continue to grow […]
The U.S. Supreme Court will soon issue its ruling on the health care legislation — the “Patient Protection and Affordable Care Act” — passed in 2010. Over half the individual states have challenged the constitutionality of the law that requires individuals to obtain minimum health insurance coverage and penalizes those who don’t comply. The law […]
Welcome to Our Bay Business Group Blog! Do you need CPA & bookkeeping services? Find out how you can get both for as little as 375/monthâ?¦ Do you want an outsourced accounting department for less than the cost of a bookkeeper? Is your tax preparation service doing all they can to lower your taxes ? Find […]