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Trusted Answers From Licensed Business Professionals
TAX BREAKS, TAX SAVINGS

What Types of Travel and Entertainment Expenses Can You Writeoff?

By The BIDaWIZ Team on March 16th, 2012 at 2:00 pm

Some of the most significant expenses that small businesses can deduct relate to travel & entertainment. Unfortunately, the tax code doesn't make it very easy for us to identify what we can & cannot deduct on our return. .
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PERSONAL FINANCE

Have You Ever Thought About Refinancing Your Car Loan?

By The BIDaWIZ Team on March 16th, 2012 at 12:00 pm

The savings from refinancing an auto loan that is currently at a high interest rate can be significant. Find out what you should know when refinancing an auto loan. Read More.

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TAX SAVINGS

Tax Breaks for College Students and Their High Income Parents

By The BIDaWIZ Team on March 15th, 2012 at 11:30 pm

There are a few valuable tax deductions and credits that parents and students can take advantage of for the 2011 tax year. Parents that are even high income earners can pass along certain tax breaks to their college kids. Read More.

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TAX SAVINGS

Managing Your Mutual Fund Shares to Reduce Your Tax Liability

By The BIDaWIZ Team on March 14th, 2012 at 3:00 pm

We are often told to invest in mutual funds with a strong track record and low expense ratios. Let's also not forget about tax efficiency as an investment criteria. .
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TAX ISSUES

What Happens If I Contribute Too Much To My Roth IRA?

By The BIDaWIZ Team on March 12th, 2012 at 8:00 pm

It is not uncommon to contribute to a Roth IRA only to realize that your income is higher than you initially expected. This can often happen when your employer provides a larger than expected bonus at year end. What are the tax consequences and how can you fix this problem? .
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FINANCIAL ADVICE

Have You Thought About A Subscription Model For Your Business?

By The BIDaWIZ Team on March 9th, 2012 at 1:00 pm

When the word subscription comes up, we often think about magazines, gym memberships, or software-as-a-service (SAS) offerings. That's changing now as many different types of retailers are offering subscription plans. .
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INSURANCE

Why You May Need Umbrella Liability Insurance to Protect Your Assets

By The BIDaWIZ Team on March 8th, 2012 at 11:30 am

Most of us have insurance coverage for our homes and automobiles. However, those policies often have gaps in coverage that can leave us vulnerable. Umbrella liability insurance can fill those holes and should seriously be considered. .
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TAX PREPARATION

How Should Rental Property Be Reported on My Tax Return?

By The BIDaWIZ Team on March 7th, 2012 at 8:00 pm

Most accountants will tell you that reporting rental property on a tax return can get complicated which is why their fee is usually higher to do so. Yet, this is not always true as the complexity often depends on how the rental property is used. Read More.

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FINANCING

Should I Use A Crowdfunding Site To Raise Capital For My Venture?

By Susan Ladika on March 7th, 2012 at 1:00 pm

With banks continuing to be reluctant to lend cash, some with a small business or creative project they want to get off the ground are turning to crowdfunding websites to finance their ventures. Before you sign on with a particular site, it's important to understand the ins and outs, and if the site you have in mind has restrictions on the kind of projects presented there. .
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TAX PREPARATION

Will I Be Taxed If My Credit Card Debt Is Discharged?

By The BIDaWIZ Team on March 6th, 2012 at 5:00 pm

Credit card debtors may be sent a 1099-C form for the 2011 tax year. In fact, the IRS projects that 6.4 million of these forms will be sent to debtors, up from 3.9 million in 2010 and likely due to the increase in defaults. Find out if receiving this form means you owe more taxes. Read More.

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