Four Tax-Smart Ways to Save for College

The cost of sending a child to college is daunting. According to the latest figures from the independent College Board, the total average cost for the 2010/2011 academic year – including tuition and fees, room and board, books and supplies, transportation and other sundries – for in-state students at four-year public colleges was $20,339. For […]

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IRS increases mileage rates

The IRS has increased the standard mileage rates to be used for computing the deductible costs of operating a vehicle for business or for driving for medical or moving reasons. The new rates will apply to driving from July 1, 2011, through December 31, 2011. The revised rates are 55.5¢ per mile for business driving […]

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Are you watching your company’s cash?

Do you regularly monitor your company’s cash accounts? You should. Even if you leave the job to your bookkeeper or accountant, you should stay aware of where the cash is going and how the spending is approved. Along with inventory “shrinkage,” theft or improper expenditures of cash are among the chief sources of loss for […]

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A critical business question: Should you incorporate or not?

One of the first decisions you face as a new business owner is whether or not to incorporate your business. The biggest advantage of incorporating is limitation of your liability. The responsibility for debts and other liabilities incurred by a corporation is generally limited to the assets of the business. Your personal assets are not […]

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Summertime Tax Tips

Summertime fun can be made even more enjoyable by adding tax savings. Here are some tax-saving ideas to consider: * If you have summer travel plans and the primary purpose of your trip is business, you can deduct all the travel costs to and from your business destination and all other business-related costs even if […]

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