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Trusted Answers From Licensed Business Professionals
INSURANCE

Is Your Homeowners Insurance Policy Providing Adequate Coverage

By The BIDaWIZ Team on July 5th, 2012 at 8:00 pm

Today, the average family can expect to pay at least $1,000 in annual homeowners insurance premiums. Rising prices of building materials and the added cost of getting coverage for excluded items under primary polices have both contributed to this trend. Still, many homeowners may not have an insurance policy that meets their expected coverage in case of a loss to their home. .
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TAX PLANNING

Many Investors & High Income Earners Will Face Higher Taxes in 2013

By The BIDaWIZ Team on July 2nd, 2012 at 9:00 pm

The Supreme Court’s decision to uphold the heath care mandate means that many investors will be penalized with higher taxes in 2013. The degree in which tax rates rise is still up for debate, but we know for sure that they’ll rise at least 3.8%. Read More.

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PERSONAL FINANCE

Students With Government Debt Get a Reprieve But…

By The BIDaWIZ Team on June 29th, 2012 at 4:00 pm

The government continued its fiscal policy of kicking the can down the road by extending low interest rates on government issued debt to students. Interest rates were expected to jump to 6.8%, but that has been pushed aside until July 1, 2013. Still, the decision left out a major provision that will undoubtedly hurt some students. Read More.

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FINANCIAL ADVICE

Do You Have a Buy and Sell Agreement With Your Business Partner?

By The BIDaWIZ Team on June 28th, 2012 at 3:00 pm

Many businesses that are owned and managed by multiple partners or family members do not have a plan in place should certain triggering events occur such as death or divorce. It is important to have a contingency plan to ensure a smooth transition at little or no expense to the existing owners. .
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TAX REPORTING

What the Supreme Court’s Health Care Ruling Means For Businesses

By The BIDaWIZ Team on June 28th, 2012 at 11:45 am

Chief Justice John Roberts laid down the law on Thursday with a swing vote in support of President Obama’s health care plan mandating coverage to all individuals. Those that do not fulfill the mandate will face a financial penalty in the form of a tax. But, what about small businesses? How are they going to be impacted? Read More.

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INVESTING, TAX PLANNING

The Tax Consequences For Inheriting A Relative’s IRA

By The BIDaWIZ Team on June 26th, 2012 at 8:00 pm

The tax rules can be very confusing when inherited IRAs come into the picture. There are many exceptions to the withdrawal rules and some financial professionals do not even understand them all. Make sure you're not receiving incomplete or inaccurate advice. .
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INVESTING, TAX PLANNING

Moving Your IRA Assets From One Financial Institution To Another

By The BIDaWIZ Team on June 26th, 2012 at 5:00 pm

Now may be the time to move your IRA assets from one financial institution to another. This is a fairly straightforward process, yet, many financial institutions are notorious for providing limited and sometimes inaccurate information for rolling over or transferring IRA funds. Mistakes can be costly and may trigger an unexpected taxable event. .
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INSURANCE

You May Be Eligible For a Health Insurance Rebate Check

By The BIDaWIZ Team on June 22nd, 2012 at 4:00 pm

About 12.8 million insured Americans will receive a health care rebate check of $151 per family by August 1, 2012. The rebate is in response to the Affordable Care Act's 80/20 rule in which insurance companies must use at least 80% of the premium for medical care and quality improvement. Find out if you're eligible for the rebate. .
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EMPLOYMENT TAX

Is Your Mileage Reimbursement Check Lower Than It Should Be?

By The BIDaWIZ Team on June 22nd, 2012 at 1:00 pm

Employees that travel on business frequently accumulate hundreds if not thousands of dollars in out of pocket expenses annually. Some employers will reimburse the worker up to IRS standard deduction rate of $0.555 per mile while others may return much less and sometimes nothing at all. Is your employer treating the reimbursement correctly for tax purposes and how should you report it on your own tax return? Read More.

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PERSONAL FINANCE

Costs to Avoid When Purchasing a New Car

By The BIDaWIZ Team on June 20th, 2012 at 7:00 pm

The automobile industry is back on track with vehicle unit sales up 20-25% for both cars and SUVs. Consumers in the market for a new vehicle need to be on the look out for aggressive sales professionals that try to sell you more than you need. .
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