Small Business Owners - 360 Degrees of Financial Literacy

Total Tax Insights Calculator

Tue, 15 May 2012 11:19:43 EDT

Where you live, what kind of car you drive, how you shop – all can have a significant impact on the taxes you pay. All told, there are more than 20 types of taxes – some that may surprise you – and knowing which you pay and how much you pay can affect not only your current financial picture but your future plans as well.

Business Owner Succession Planning

Mon, 12 Mar 2012 12:02:48 EDT

Every successful business owner must eventually face the question: What will happen to my business when I become disabled, retire, or die? Sooner or later, you will generally need to identify someone to transfer your ownership interest to family members, co-owners, key employees, or an outside party. Without a succession plan, the business may need to be liquidated.

Four Money Mistakes You Might Be Making

Mon, 12 Mar 2012 11:48:54 EDT

Three years after the economic crisis led many Americans to re-evaluate their financial picture, economic uncertainty is still the norm. While there's little you can do about the shaky economy, you can help stabilize your own finances over the long term by evaluating what you're doing right, and wrong. There's no guarantee, but avoiding these four money mistakes may help you survive and ultimately thrive in any turbulent economy.

Investing in a Low Interest Rate Environment

Thu, 08 Mar 2012 16:57:20 EST

Low interest rates create a dilemma. Do you accept a low return because you feel you must protect your principal? Or do you take on greater investment risk in order to try for a higher return? Here are some factors to consider in trying to balance those two concerns.

Keeping Market Volatility in Perspective

Tue, 07 Feb 2012 18:33:52 EST

When markets are volatile, sticking to a long-term investing strategy can be a challenge. Though past performance is no guarantee of future results, it might help you keep the ups and downs in perspective to see how recent market action compares to previous market cycles.

Simplified Employee Pension Plans (SEPs)

Wed, 14 Dec 2011 12:29:08 EST

If you're a small business owner thinking about adopting a retirement plan, you should consider a SEP (simplified employee pension plan). A SEP allows you to make retirement contributions to traditional IRAs (SEP-IRAs) set up for yourself and each eligible employee. (If you don't have employees, you can adopt a SEP for yourself alone.) Your contributions are deductible from your business's income, and excluded from your employees' income. Virtually any business owner can establish a SEP.

Qualified Charitable Distributions Qualify for RMDs

Wed, 14 Dec 2011 12:23:46 EST

If you're an IRA owner who must take a required minimum distribution (RMD) in 2011, you can avoid some or all of the resulting income tax liability by donating a portion of it to charity. A qualified charitable distribution (QCD), also known as an IRA charitable rollover, can not only save you income taxes, it can help minimize your taxable estate and fulfill your philanthropic desires. Through December 31, you can make tax-free transfers of up to $100,000 directly from your IRA to qualified charities. Here are the details.

How Europe Affects Your Portfolio

Thu, 10 Nov 2011 18:31:07 EST

When a possible default on Greek sovereign debt becomes headline news, a lot of people find themselves wondering, "How can the problems of a country so small and so far away create such turmoil in the world's financial markets?" What's happening in Europe is probably affecting your portfolio right now, regardless of the quality of your holdings or how well diversified you are.

Five Year-End Tax Planning Considerations

Thu, 10 Nov 2011 18:20:09 EST

Legislation passed in December of 2010 extended lower tax rates, deductions, and other expiring provisions for an additional one to two years. As a result, you can consider 2011 year-end tax planning moves with a relative degree of certainty. Here are five things to keep in mind.

Year-End Investment Planning: The Clock Is Ticking

Thu, 13 Oct 2011 13:51:52 EDT

Investment planning at the end of 2010 was complicated by uncertainty over whether existing tax rates would be extended. This year, it's the congressional "supercommittee" charged with tackling the country's deficit financing problem that's the source of uncertainty. Even though you may not be sure how the committee's work might ultimately affect you, here are some factors to keep in mind as you plot your year-end strategy.