Entries by

Understand the time value of money

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 […]

Before the wedding, talk about your finances

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 […]

Some tax facts…

* 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. […]

New businesses have tax filing requirement

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: […]

What to do if you missed the April tax filing deadline

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 […]