Sooner or later, you may decide to sell property you inherited from a parent or other loved one. Whether the property is an investment, an antique, land, or something else, the sale may result in a taxable gain or loss. But how that gain or loss is calculated may surprise you. Your Basis When you […]
Archives for September 2016
Determining a Succession Plan for Your Business – Before You Need It
You’ve devoted time and money and poured heart and soul into building a successful family business. But do you have a succession plan? If not, you should. Without a plan for transferring your business to the next generation, anything could happen. Deciding on Your New Role Start by deciding how much or how little you […]
Four Ways to Control Business Costs
Increasing your profits requires selling more and/or spending less. While building up your sales may require an extended effort, business costs are often very ripe for a quick trimming. Here are some possibilities. Supplies and Other Purchases Usually in any business, relatively few items represent a very large share of all outlays. The first step […]