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
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...]
Cost of Health Care Reform Start to Emerge
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
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...]
Financial Apps for Small-Business Owners’ Mobile Phones
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...]
Special Dividends Being Issued in Anticipation of 2013 Tax Increases
In anticipation of 2013 tax increases, Special dividends being issued by companies in 2012. 2013 Tax Increases: In addition to their regular quarterly dividend payments, many large corporations are also issuing special dividends this year. During the past several months, the number of companies issuing special dividends has increased 400 percent. Small investors are largely welcoming these special dividends because issuing them in 2012 means that they can avoid paying higher income taxes that … [Read more...]
Government Accountability Office Says Eliminate the Dollar Bill
Finance expert Mike Periu writes about the Government Accountability Office Says replacing the dollar bill with a dollar coin could save the government millions. The Government Accountability Office (GAO), the audit, evaluation, and investigative arm of the United States Congress, has recently issued a recommendation to eliminate the dollar bill and replace it with a dollar coin. This would save the U.S. government about $147 million per year over 30 years. More importantly, many industries … [Read more...]
Opportunities for Small Businesses
Finance expert Mike Periu on Opportunities for Small Businesses: receive mentoring and advice from larger companies. The Boston Beer Company, a $600 million brewer, has instituted a program where small businesses can receive mentoring and advice from employees to help them improve their chances of success. Staff from the company assist with marketing, financing, operations and other areas by providing one-on-one support tackling the problems that small-business owners face. In conjunction … [Read more...]
lessons from small business failures
Finance expert Mike Periu on how to learn valuable lessons from small business failures. It's far easier to find articles and videos about small business success than it is about failure. Many times, however, there are more valuable lessons to be learned from failure than from success. Small-business owners succeed in different ways but tend to fail for the same reasons. Identifying these reasons and dealing with them can improve your chances of success. Entrepreneurs, who have failed and … [Read more...]
Crowdfunding May Be Delayed by a Year Or More
Finance expert Mike Periu on expected delays for the implementation of the Jobs Act, a new, easier way for companies to raise money. The JOBS Act which authorizes new, broader and simpler ways for companies to raise money via Crowdfunding will go into effect in 2013. In order for this to happen, the Securities and Exchange Commission, tasked with overseeing the implementation and enforcement of the JOBS Act, must decide on a plan of action by December 31st. It is far from certain that they'll … [Read more...]
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