Tag Archives: cable

Only You

Only you truly care about your money. It is very important to keep that point in perspective. That salesman at the mall, the customer service representative at the bank, even your financial planner does not care about your money the way YOU do. This is a critical fact to remember. You are your own best money manager. Now, I know you may not believe me, but this is absolutely true. Only you can judge your true needs and goals. Only you know how much risk you can tolerate. Only you know what amount of savings and investments feels the most … Continue reading →

Getting Ready to “Close the Books”

I really cannot believe that 2007 is nearly over. In addition to all the personal and familial changes and developments over this past year (the year I turned forty, by the way)—it has been a busy and growing year in my home business as well. As I look at the calendar and realize there are only three weeks or so left in the calendar year, I realize it is nearly time to “close the books” on another business year too. There are a few things to wrap up before the year turns over, and then there will be the collecting … Continue reading →

Collecting All Your Documents for Taxes

Well, we are nearly into December, which for those of us who run our home businesses along the calendar year (as opposed to a fiscal calendar), we will soon be sitting down to do our 2007 taxes. Whether you do your taxes yourself or work with a professional, this is a good time of year to make sure you’ve got all your records in order and your ducks in a row… Hopefully, throughout the year you have been keeping track of your income and expenses, any estimated tax payments you have made, interest income, business loans, etc. For those of … Continue reading →

Pay those Taxes

Do you own a business? Are you an independent contractor? Do you do freelance work on the side? If you answered yes to any of these questions you are faced with a unique opportunity, the ability to pay taxes or not. For the mainstream employee who works for a company, money is removed from his or her paycheck each month for taxes. This payment goes to the government, and then he or she can file to either pay more or receive a return. The process is basically automated. If you are the business owner or if you do work on … Continue reading →

Taking Stock Before the End of the Year

For those of us who budget and operate our home businesses on a calendar year, we are entering into the final quarter of the year. As Fall comes on for the rest of the world, the months of October, November and December signify the ending three months of yet another business year. There is still plenty to do, of course, and this is a good time to take stock, check your budget and yearly plan, and see what you can accomplish before the year closes. For some small businesses, we are coming up on the busiest time of the year. … Continue reading →

Four Financial Considerations When You Are Getting Divorced

Divorce is difficult for everyone involved. It is generally a situation in which emotions usually play a big heart. Generally there is so much to consider that it is easy to overlook financial considerations when it comes to the assets and the care of the children. It is important to focus on healing and helping your children, but setting up these stipulations during your divorce will help you down the line. 1) The first thing to consider is child support. The judge will usually decide what a fair amount is. There are many considerations, which include how you split the … Continue reading →

Five Changes When You Go From Two Incomes to One Income

If you are considering switching from a two-income family to a one-income family, there are several things that you will need to consider as you make the change. You need to make sure that you can afford to make the change. If you feel that you can here are five things to consider to make the transition smoother. 1) You need to make sure that your entire family still has health insurance coverage. It is important to take this factor into account when you are considering your new budget. Health insurance coverage can vary widely from company to company and … Continue reading →

Adoption Tax Credit

Many people who hear how expensive adoption is do not realize what a dramatic difference the adoption tax credit makes. The tax credit for adoption is $10,000. This is not a deduction where you deduct adoption expenses from your taxable income. This is an actual credit, meaning you pay less money in taxes. For most people, that means you will be getting quite a refund! This one-time tax credit is available to those who adopt internationally as well as those who adopt US infants or US children in foster care, unlike the ongoing monthly subsidies for medical or psychological care … Continue reading →

Nothing Says Love Like Taxes

So I was finishing up our taxes today – yes I know – thrill a minute. But I was sitting there finishing up the taxes earlier today and a memory surfaced that I hadn’t thought about in a very long time. This memory made me laugh out loud and I had to pick up the phone to call my husband to remind him of this shared memory and I got to be highly entertained by his laughter. So What’s So Funny? A long time ago in a galaxy far, far away … wait, that’s the wrong story. More than a … Continue reading →

Incorporating With an S Corp

Incorporating sounds intimidating, and in a lot of ways it is. The taxes for most types of corporations are complicated and have to be filed quarterly. If you don’t have the money for an accountant, and you can’t see going through tax time four times every year, then the S Corporation might be right for you. The technical aspects of the taxes are a little beyond me, but I do know this- you only have to pay once a year. It’s not much more complicated than filing personal income taxes, and I haven’t found much difference between filing for an … Continue reading →