Skip to content
Trusted Answers From Licensed Business Professionals
INVESTING, TAX PLANNING

Should I Still Contribute To My 401K When I’m Older?

By The BIDaWIZ Team on October 19th, 2012 at 6:30 pm

Many of the 75 million individuals in the baby boomer population are already in their 60s or will be so within the next 12 years. One of the questions that they need to be asking themselves is, "What should I do with my 401(K) when I reach retirement age?" Of course, the answer to this question is somewhat dependent on their future employment status. .
-or-
Share |
No Comments
TAX PLANNING

How Much Can I Contribute to My 401K and IRA in 2013?

By The BIDaWIZ Team on October 19th, 2012 at 4:00 pm

Well, at least the IRS recognizes that inflation is beginning to show its ugly face or will so in the near future. The IRS recently announced inflation adjustments to retirement plans, gift taxes, the foreign income earned exclusion, among other items. .
-or-
Share |
No Comments
TAX PLANNING

Is There A Way To Avoid IRA Required Minimum Distributions?

By The BIDaWIZ Team on October 18th, 2012 at 7:00 pm

If you are turning 70 1/2 very soon, you will need to start thinking about withdrawing from your IRA. Unlike a 401(K), a traditional IRA is subject to required minimum distributions (RMDs) whether or not you're still employed. Still, is there a way to avoid IRA RMDs? .
-or-
Share |
No Comments
FINANCIAL ADVICE

Factors To Consider When Choosing a Credit Card Processor

By The BIDaWIZ Team on October 17th, 2012 at 5:00 pm

There are many options available in the market for choosing a credit card processor. While having choices is helpful for comparison shopping, it also can get quite overwhelming. To select a processor, you really want to focus on the factors that are most pertinent to your company. .
-or-
Share |
No Comments
CREDIT CARDS

Should I Sell My Car to Payoff Credit Card Debt And Lease One Instead?

By The BIDaWIZ Team on October 12th, 2012 at 6:30 pm

The average household still carries over $7,000 of credit card debt, with many above ten thousand. Credit card debt is perhaps one of the worst types of debt to carry as interest rates are typically high at 15%-20%. One option that debtors may want to consider to lighten the load, is sell their car and lease one instead. Is this a smart decision for you? .
-or-
Share |
No Comments
INVESTING, TAX REPORTING

Do You Know What the Fees Are For Your 401(K) Plan Now?

By The BIDaWIZ Team on October 11th, 2012 at 8:00 pm

Back in May, we noted that the new 401(k) disclosure rules would be in effect by the end of the summer. The intent of these rules was to provide greater transparency to both employers and employees. Did it work and have you noticed a difference in the reporting? Read More.

Share |
No Comments
FINANCING

Should You Consider Revenue-Based Financing For Your Business?

By The BIDaWIZ Team on October 4th, 2012 at 5:30 pm

The small business lending environment continues to be tight with banks holding potential borrowers to strict criteria. As a result, businesses have begun to explore new ways to gain financing. One such method is called revenue-based financing (RBF). Is this an option for your business? .
-or-
Share |
No Comments
TAX PLANNING

Is There A Deduction For Burning Down A House?

By The BIDaWIZ Team on October 4th, 2012 at 3:00 pm

With the housing market showing some signs of life, the times of purchasing properties to knock down a home and build a new one, may be returning. Getting rid of the home can actually be a costly process as it requires a demolition team and removal. To reduce the cost and apply for a tax break at the same time, some have let their local fire department handle the demolition and treated it as a charitable gift at the same time. Read More.

Share |
No Comments
TAX PLANNING

Are You Putting Any Nontraded Assets into Your IRA or Roth?

By The BIDaWIZ Team on October 3rd, 2012 at 6:00 pm

Most individuals can contribute to their individual retirement accounts (IRA or Roth) with wages of up to $5,000, or $6,000 for those that are 50 or older. Some individuals may instead contribute to an SEP-IRA, if offered by their employer, which has a $50,000 annual contribution limit. In all cases, the assets that are held in these IRAs may be under scrutiny by the IRS in the upcoming years. .
-or-
Share |
No Comments
TAX BREAKS

What Expenses Can I Deduct For My Home Based Business?

By The BIDaWIZ Team on October 2nd, 2012 at 8:00 pm

A growing number of entrepreneurs manage their business from home for the convenience and the cost savings. As such, the IRS has taken note of this and has scrutinized home office deductions. Still, for those that have legitimate expenses and maintain proper documentation, there are several deductions that you may be eligible to claim on your tax return. .
-or-
Share |
No Comments