Selling Your Business to Family
When you are considering selling your business, you may have possible buyers within your own family. You may want to withdraw from the business but still keep the business within the family, and you might have children or other relatives who work in your business with you who might be ideal potential buyers. When selling […]
Lifetime Gifting of Stock or Business Interest
Lifetime gifting of your stock or other business interest (such as a partnership interest, if your business is not incorporated) refers to a formal or an informal plan of giving your interest in a business directly to other individuals, probably your children or grandchildren. As opposed to selling your business interest, giving your stock or […]
How an election-packed 2024 is shaping up for world markets
In an election-packed year, markets have so far shrugged off results, with the focus squarely on the one contest that could reverberate across everything from international trade to emerging market debt: the United States presidential race in November. Here’s a look at some of the key elections ahead.
A police stop, a free hat, and a letter to GM’s boss — here’s the story of Warren Buffett’s Cadillac upgrade
Warren Buffett’s upgrade of his trusty Cadillac in 2014 was a whole saga. It involved his daughter, a $122,000 auction, a police stop, and GM CEO Mary Barra. Here’s the story of the investor’s memorable car purchase.
I asked a financial planner what I should know about getting earthquake insurance
If much of your assets are tied into a home, it might be worth considering earthquake insurance.
Ordinary Income
Ordinary income is income that is taxed at ordinary income tax rates and does not qualify for capital gains tax treatment. It’s important to understand the difference between ordinary income and capital gain income because, generally, ordinary income tax rates are higher than capital gains tax rates.
A Million Simulations, One Verdict for US Economy: Debt Danger Ahead
Bloomberg Economics ran a million forecast simulations on the US debt outlook. 88% of them show borrowing on an unsustainable path.
Annual Market Review 2023 (Video)
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General Business Tax Credit
The general business credit is the sum of a number of individual tax credits. The general business credit was established by Congress to encourage particular social or economic objectives, such as promoting increased investment in disadvantaged communities.
Deductions: Medical and Dental Expenses
If you paid certain medical and dental expenses this year for yourself, your spouse, or your dependents (and were not reimbursed), you may be eligible to claim the medical and dental expenses deduction. Unfortunately, the hurdle for claiming this deduction is a high one — in order to claim a deduction for medical expenses, you […]
