A growing legion of parents have invested in Section 529 plans for college. According to a spokesperson for the College Savings Plan Network, in 2008 about 11 million account investors held more than $129 billion in such plans. However, stock market volatility has caused the value of many accounts to plummet during the past year….
Drastic times may call for drastic measures. For some entrepreneurs facing a dwindling revenue stream and escalating costs for supplies and materials, it may be necessary to take some preemptive action. This might be the only way for the company to stay afloat until the economy turns around. Naturally, you should consider any cost-cutting measures…
Do you need retirement money sooner or later? It can make a big difference in the way you manage your finances. Take annuities, for example. If you are far away from retirement, you may decide to invest in a deferred annuity. As the name implies, distributions are not made until sometime in the future. The…
The end of the year is usually an optimal time for tax planning. This year offers several new tax breaks under the 2009 economic stimulus law, as well as other time-tested techniques. Here are a few prime examples. Individual Tax Strategies Capital gains and losses: Depending on your situation, you may realize capital gains to…
Despite the current state of the economy, healthcare costs are continuing to rise. According to national reports, health insurance premiums have doubled in the last eight years and increasing co-pays and deductibles make it hard for some Americans to have access to the proper care. In response, President Barak Obama has introduced a new healthcare…
For tax purposes, the difference between a “repair” and an “improvement” is more than just semantics. Generally speaking, the cost of an improvement to business property must be capitalized and written off over a period of years. In contrast, if you simply repair a business asset, you may currently deduct the entire cost. Some expenses…
What is medical practice worth? IT DEPENDS! And once you understand this sole fact, you can then begin to concentrate on how to get to the answer. There is a great misunderstanding in the medical community as to what constitutes the value of a medical practice. Purchasers often think it is valued based on what…
Due to medical advances, people are living longer than they did in the last century. In the United States, the current average life expectancy is 77.8 years. Of course, that is encouraging news. On the downside, if an elderly relative needs expensive long-term care, it could cause financial and emotional problems for the rest of…
Thirty–fifty years of age, married with a stable family situation, above average education, professional or managerial staff level… who does this describe? According to recent research, it describes the profile of most fraud perpetrators—those most likely to misappropriate assets from their employers, also known as occupational fraud. White-collar crime appears to be the crime of…
You make critical decisions every day in managing your projects and your people. But, do you have the time to control the bigger financial management issues facing your business? Many construction business owners spend their valuable time working in the business, but few are able to devote significant time and resources to work on the…
