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Trusted Answers From Licensed Business Professionals
FINANCIAL ADVICE

When Should I Move Out Of My Home Office?

By The BIDaWIZ Team on January 3rd, 2013 at 11:00 am

Many new businesses will one day reach a point in which working out of a home office becomes more of a hindrance to future growth than a cost savings measure. When should I move into a dedicated office and what are the necessary steps to do so? .
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FINANCIAL ADVICE

Should You Consider Franchising Your Business?

By The BIDaWIZ Team on December 21st, 2012 at 2:00 pm

Many small businesses with a proven model still lack the necessary resources to expand their brand, products and services. Furthermore, finding an independent investor and/or bank to fuel future growth can be very difficult in today's economy. Franchising is another option that small business owners shouldn't overlook. .
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TAX PREPARATION, TAX SAVINGS

Last Minute 2012 Personal Tax Deduction Questions

By The BIDaWIZ Team on December 21st, 2012 at 10:00 am

The end of the year and the tax filing season is upon us. As you prepare to gather your tax documents, it’s important to understand all of the nuances for claiming personal tax deductions. Read More.

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FINANCIAL ADVICE

What Should I Major In If I Want Become An Entrepreneur?

By The BIDaWIZ Team on December 20th, 2012 at 5:00 pm

It’s difficult to determine which major is best for future entrepreneurs. Believe it or not, some entrepreneurs never even attend or finish college and instead put their resources into creating a business. While we generally disagree with that approach, there are entrepreneurs who made the right choice in taking that path, though it’s very rare. Still there are certain things to keep in mind while considering your college major. Read More.

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MORTGAGES

Should You Be Worried That Mortgage Rates Are Now Rising?

By The BIDaWIZ Team on December 20th, 2012 at 4:00 pm

While 30 year mortgage rates are still down 50 to 60 basis points as compared to last year, there’s been an increase in rates over the past two weeks. According to Bankrate’s recent national survey, rates are up 10 basis points or at 3.62% as compared to 3.52% during the week of December 3rd, 2012. This is somewhat head-scratching given the Federal Reserve’s announcement to purchase up to $45 billion worth or mortgage-backed securities per month. What should you make of this recent rise in mortgage rates? Read More.

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MORTGAGES

Managing The Timing For Selling And Purchasing A New Home

By The BIDaWIZ Team on December 14th, 2012 at 4:00 pm

The housing market continues to show signs of life. Many homeowners may now have immediate plans to sell their existing home and purchase a new one in hopes that the value will appreciate significantly in the coming years. It's important to understand when exactly it's safe to purchase a new home. .
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INSURANCE

How Can I Take Out The Cash Value From My Life Insurance Policy?

By The BIDaWIZ Team on December 14th, 2012 at 9:00 am

There are still plenty of policyholders that are on the fence about what to do with the cash value from their insurance plan. If you're thinking about tapping into it, you likely need it for retirement or are in a financial bind. If you're in this situation, you'll need to know the different ways to pull the cash out without facing taxes or penalties. .
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TAX ISSUES

What Do We Do If We Haven’t Been Depreciating Rental Property?

By The BIDaWIZ Team on December 14th, 2012 at 7:00 am

Rental property must be depreciated as per the IRS rules. Unfortunately, many individuals with a vacation or second home don't report their rental property correctly for tax purposes. What once started as a vacation home that you'd rent to folks sparingly can quickly turn into a full blow rental. .
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TAX PLANNING

Can I Borrow From My IRA Tax-Free?

By The BIDaWIZ Team on December 13th, 2012 at 5:00 pm

The short answer is that you technically can borrow from your IRA without facing any penalties or taxes. However, you need to follow certain steps. This should also be a last resort option for obtaining a loan. .
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FINANCIAL ADVICE

What Should Businesses Do To Protect Themselves During a Recession

By The BIDaWIZ Team on December 12th, 2012 at 6:00 pm

Many U.S. businesses are still climbing out of the 2008 recession and there's still the possibility that we could fall right back into one within the next couple of years. There's significant uncertainty ahead of us as global economic growth remains subdued and the U.S. has yet to resolve key tax and financial matters related to the fiscal cliff. No matter what happens in the next couple of years, all entrepreneurs need to be prepared. .
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