Running a small business is a demanding task, requiring you to wear many hats, from managing operations to marketing and customer service. Among these responsibilities, bookkeeping and accounting are crucial for the financial health and sustainability of your business. While it may seem daunting, effective financial management doesn’t have to be overly complicated. Here are […]
Valuing Your Estate’s Assets
In estate planning, you often come across the term “fair market value.” However, some assets are easier to value than others. The IRS defines fair market value as “the value at which the property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or to sell […]
7 Effective Ways to Evaluate a Market
Before launching a new product or service, expanding into a new geographical area, or making significant business decisions, it’s crucial to thoroughly evaluate the target market. Market evaluation helps businesses understand customer needs, competition, and the potential for success. In this article, we will explore seven effective ways to evaluate a market. 1. Conduct Market […]
Understanding Total Return
A mutual fund’s performance — its total return — can be either positive or negative. In other words, a fund either made or lost money for a measured time period. There are three separate elements that contribute to total return: the distribution of fund income (interest and dividends received on the fund’s investments); the distribution […]
What are Tax Credits?
Taxes are an integral part of running a business, and they often represent a substantial portion of your expenses. However, there’s good news for businesses looking to reduce their tax burden and stimulate growth – business tax credits. These credits provide financial incentives for companies to invest in various activities, from research and development to […]
Help Your Working Teen Get a Jump-Start on Saving
You may have a teen in your family who holds down a part-time job or works full-time during the summer. You can help your child lay the groundwork for future retirement security early on by encouraging your child to open an individual retirement account (IRA). You may, or may not, get some resistance, especially if […]