Avoid the common problems faced by new businesses
If you recently started a business of your own, your challenge now is to make your business as successful as possible. To improve your chances for success, try to avoid some of the common traps that snare new companies.
Three main options for non-spousal IRA beneficiaries
If you’ve inherited a traditional IRA from someone other than your spouse ‒ say, an elderly parent or grandparent ‒ you may be overwhelmed at first. But once you collect yourself, it’s important to review all your options, taking your personal circumstances into account.
Spousal IRA Inheritors have four main options
Suppose you’ve just inherited a traditional IRA from your spouse. Before you take any action, make sure you fully understand all the options available to you. Otherwise, you may regret your initial impulses, especially if you haven’t benefited from professional guidance.
What You Should Know About Giving Gifts
The tax code allows you to give away up to $14,000 each year to as many people as you want, without triggering gift tax. If you and your spouse "split" your gifts, you can double this $14,000 annual gift-tax exclusion and give $28,000 per recipient.
Understand "Sunk" Costs in Business Decisions
Once your business incurs costs that can't be recovered, those costs become irrelevant to subsequent business decisions. Such expenditures, known as sunk costs, can include money paid, time spent, or resources used that are no longer retrievable.