Small Business Week – Helpful Resources for Entrepreneurs

It's National Small Business Week! Sponsored by the Small Business Administration, this week celebrates the American entrepreneurial spirit with events throughout the country and access to vital information that every small business owner needs. Whether you’re starting a new business or managing an existing one, you need as many resources as possible to help you … [Read more...]

Tax and Accounting News for Small Businesses

A Dozen Deductions for Your Small Business By Dana Dratch at Small-business tax rule No. 1: Don't mess with the IRS. But that doesn't mean you should cheat yourself. Take every legal deduction you can. Here are a dozen that even savvy small-business owners and entrepreneurs sometimes forget.?>>> Read More 5 Tasks Entrepreneurs Are Better Off … [Read more...]

Small Business Owners – What’s Keeping You Up at Night?

Employees, cash flow, rules and regulations, taxes, competition, burnout. The list of concerns for a small business owner can seem endless. Carpenter, Evert and Associates is gathering data about these concerns so we can give you the information you really need. Click on the link below to give us your opinions on the biggest concerns that small business owners have … [Read more...]

IRS Warning – Don’t Fall for New Tax Scams

Although the tax season is over, tax scammers work year-round. The IRS is advising you to stay alert to new tax scams. These scams first tried to sting older Americans, newly arrived immigrants and those who speak English as a second language. The crooks have expanded their net and are now trying to swindle anyone they can get their hands on. Here are several tips from the … [Read more...]

IRS offers relief to small businesses that haven’t filed their retirement plan returns.

News from the IRS this week: WASHINGTON —The Internal Revenue Service today encouraged eligible small businesses that did not file certain retirement plan returns to take advantage of a low-cost penalty relief program enabling them to quickly come back into compliance. The program is designed to help small businesses that may have been unaware of the reporting … [Read more...]

It’s Time for a Mid-Year Retirement Savings Check-Up

Now that the tax season is over, this is a great time of year to review your retirement savings goals. You still have plenty of time to adjust your contributions if needed.  Employer-Sponsored Retirement Plans Join the plan — if you haven’t already, join your employer’s retirement plan as soon as you can to increase your retirement savings. Contact your employer … [Read more...]

Renting Versus Buying a Home

Should you buy or rent your home? This decision should include financial as well as non-financial factors, and both can be equally important. Crucial ratio. One key to choosing buying or renting is to determine the annual rent-to-purchase price ratio in the housing market you’re considering. The higher this ratio, the greater the advantage of buying a home. Example … [Read more...]

Rules on Charitable Contributions from the IRS

The IRS outlines the ins and outs of deducting charitable contributions in their Publication 526, Charitable Contributions. Here are excerpts to guide you in deducting your charitable contributions. Go to IRS Publication 526 for all the details. Organizations That Qualify To Receive Deductible Contributions You can deduct your contributions only if you make them to … [Read more...]

Planning for Your Retirement Income

Save substantially. Invest your savings wisely. Conventional wisdom holds that this is the way to accumulate a nest egg for your retirement, and the conventional wisdom is right on the money. However, you probably won’t always have earnings to invest. At some point, your work income is likely to cease or drop sharply in retirement, and you’ll need to draw down prior … [Read more...]

The importance of keeping your beneficiary forms current.

Supreme Court Bolsters Beneficiary Rights  A 2013 decision by the U.S. Supreme Court illustrates the importance of updating beneficiary forms regularly. If you don’t, your desired heirs could lose a valuable asset. This case, Hillman vs. Maretta, had its genesis in 1996, when Warren Hillman married Judy Maretta. Warren was a federal employee, so he named Judy as the … [Read more...]