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Big changes in estate tax laws take effect next month

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The best way to leave assets, like your business, to heirs before big changes in estate tax laws take effect next month. Take Advantage of Expiring Tax Rules to Benefit Your Heirs Current estate tax laws exempt the first $5.12 million per person (double per couple) in assets from estate taxes. This limit drops to $1 million in 2013. and the tax rate on all assets above that threshold will be taxed at a rate of 55 percent. If you plan to leave your business to your children or other heirs, … [Read more...]

RevoLines of Credit Decline in 2012lving

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Finance expert Mike Periu on the decrease in revolving lines of credit currently available to companies. According to Thomson Reuters LPC, U.S. companies have access to $787 billion in revolving lines of credit. This is down significantly from 2011's $1.28 trillion. The reduction is due in large part to companies holding back on requests for credit lines due to the uncertainty of the now-passed 2012 elections, as well as the looming fiscal cliff. Many companies that have access to the bond … [Read more...]

The Right Market opportunity for Your Business

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Finance expert Mike Periu on questions to consider when syncing your business with the right market opportunity. Choosing the Right (and Most Profitable) Market for Your Business Many entrepreneurs and small-business owners spend too much time focused on their product or service and not enough time on finding the right market opportunity. Without the right customers, you won't have revenues, profits or much chance of success. It's important to ask yourself these questions to determine if you … [Read more...]

Top Resources for the Novice Investor

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Finance expert Mike Periu on the books and resources top investment experts recommend for the Novice Investor. U.S. investors have over $10 trillion in retirement accounts like IRAs and 401(k)s. These accounts require investors to make decisions about what to do with their money. Unfortunately, financial literacy tests generally show that we as consumers simply don't know enough about finance and investing to make good decisions. In general they make the point that it's unrealistic to try to … [Read more...]

Cost of Health Care Reform Start to Emerge

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Finance expert Mike Periu on the cost of health care reform under the Affordable Care Act. Several independent organizations, including the Kaiser Family Foundation, have released new data on the expected cost of heath insurance under the Affordable Care Act regulations soon to go into effect. In their view, most families have an unrealistic expectation of how much assistance they will receive in government subsidies and are not aware of how much health insurance will continue to cost. A … [Read more...]

The Best and Worst States to Make a Fortune

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Finance expert Mike Periu on how the state you live in can have a profound impact on the taxes you pay. These are the Best and Worst States to Make a Fortune We now know that two PowerBall tickets had the winning number combination for the nearly $580 million jackpot last night. The winners will have to make some very important decisions related to financial planning, tax strategies and estate planning. How much of the jackpot they get to keep will depend in large part on which state they … [Read more...]

New Small Business Tax Break Being Proposed

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Finance expert Mike Periu on President Obama's New Small Business Tax Break proposal for a $25 billion dollar tax break for small businesses. The President announced a proposal for a new $25 billion tax break to small businesses. Calling it a stimulus package, the proposal would offer small businesses a tax credit equivalent to 10 percent of the cost of salaries for new hires and increased pay to existing workers. The purpose of the credit is to stimulate new hiring and increase compensation to … [Read more...]

A way to save on your investment income before rising taxes

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Finance expert Mike Periu on a way to save on your investment income before rising taxes take effect next year. 3.8 Percent Tax on Investment Income is a Certainty for 2013 Even though reports of a framework for a fiscal cliff deal are starting to emerge, we know one tax that will go into effect next year regardless of what happens with that negotiation: The Patient Protection and Affordable Care Act (also known as Obamacare) provision will tax "unearned net investment income". This will … [Read more...]

Financial Apps for Small-Business Owners’ Mobile Phones

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Finance expert Mike Periu on helpful financial apps specifically designed for small-business owners. Small-business owners interested in keeping better control of their company's finances now have access to a series of mobile apps designed just for that purpose. Square allows you to process payments directly from your iPhone, iPad or Android phone using a small adapter that reads credit cards. InDinero is the Mint.com of small businesses, offering a user-friendly, consolidated view of your … [Read more...]

How Consumer Spending Patterns Change With Age

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Finance expert Mike Periu on how shifting consumer spending patterns can help inform your marketing strategy. As consumers get older, how they spend their money changes significantly. Economic forecasting firm HS Dent performed an extensive analysis of consumer expenditures across 35 categories of products and services and then graphed the changes by age. Small-business owners should consider the age of their existing customers to determine if there is a good fit between what you sell and to … [Read more...]