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Create a Budget-Oriented Culture in Your Business

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Finance expert Mike Periu on how to Budget-Oriented Culture in Your Business. Create a budget-friendly business for your employees. Early stage businesses govern their operations more by vision than by a budget. This makes sense, because without a track record it's difficult to develop a credible budget. But over time as the business expands, it needs structure to grow successfully. If your employees are not accustomed to working with a budget, it could lead to culture shock and the false … [Read more...]

business structure to receive the maximum tax advantage

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Finance expert Mike Periu on whether your business is structured to receive the maximum tax advantage. Is Your Business Maximizing Its Tax Advantages? While taxes have always been an important factor to consider when making business decisions, their importance will go up significantly. One way small-business owners can ensure that they are managing taxes as efficiently as possible is to structure the business correctly from a legal perspective. When was the last time you evaluated if a … [Read more...]

Small-Business Owners: What to Expect in the Next Four Years?

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Finance expert Mike Periu on the financial challenges that may lie ahead for small-business owners. What to Expect in the Next Four Years? The next four years may prove challenging for small-business owners. According to Dr. Jeffrey Cornwall, the Jack C. Massey Chair in Entrepreneurship and Director of the Center for Entrepreneurship at Belmont University in Nashville, Tenn, it is a near certainty that taxes on small businesses will increase. This includes the potential approval of a Value … [Read more...]

Framework for Fiscal Cliff Compromise

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Finance expert Mike Periu on the framework for fiscal cliff compromise that is already in place. In mid-2011, Republican Speaker of the House John Boehner and Democrat President Barak Obama were negotiating a deficit reduction. While that negotiation ultimately failed, the terms of that deal could serve as a starting point for negotiations on addressing the fiscal cliff. In that potential deal, both sides had agreed to a tax increase as well as spending cuts. Also on the table were changes to … [Read more...]

Outsource Some Financial Tasks to Save Time and Money

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Finance expert Mike Periu why  small-business should Outsource Some Financial Tasks. Small-business owners continually make decisions between doing things themselves or paying someone else to do it. It's a trade-off between the cost of your time and the limited amount of cash at your disposal. When it comes to financial and accounting tasks, it can be difficult to know when it's OK to do it yourself and when you need to pay a professional. Depositing checks, setting financial goals, paying … [Read more...]

What Does Re-Election Mean for Investors?

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Finance expert Mike Periu on What Obama's Re-Election Mean for Investors? With the 2012 elections now over, one major unknown for investors has been answered. Obama's re-election will have a significant impact on many industries and investors need to take this into account when making investment decisions. It is now likely that income tax rates on dividend income will increase dramatically. This will hurt stocks, like utilities, that investors seek out for their dividend income. Technology … [Read more...]

What do small-business owners want in the next President?

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OPEN finance expert Mike Periu discusses What do small-business owners want from their next President. Both President Obama and Governor Romney have expressed their beliefs that small businesses are a vital part of the economy. They have discussed what they as leaders expect of small-business owners. Regardless of who wins the election, small business will play an important role in improving current conditions. So, what do small-business owners want in the next President? The Boston Globe … [Read more...]

What Do Small Businesses Want From the Next President?

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OPEN finance expert Mike Periu discusses what do small businesses want from the next president. Both President Obama and Governor Romney have expressed their beliefs that small businesses are a vital part of the economy. They have discussed what they as leaders expect of small-business owners. Regardless of who wins the election, small business will play an important role in improving current conditions. So, what do small-business owners want in the next President? The Boston Globe put … [Read more...]

Are Your Payroll Taxes Being Paid?

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A recent court case shows why you shouldn't assume your business partner or bookkeeper is making the proper payments to the IRS. Are Your Payroll Taxes Being Paid? Imagine waking up one morning and finding an envelope in your mailbox from the IRS. Upon opening it you see it contains a letter indicating that you owe nearly $190,000 in taxes that were due but never paid. The worst part about this nightmare is that the tax liability is not yours but the law still requires you to pay. Could this … [Read more...]

Deal on Fiscal Cliff Seems Less Likely Post-Election

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Finance expert Mike Periu on the likelihood of a Deal on Fiscal Cliff post-election. As the 2012 elections reach their conclusion, political and economic leaders are focusing on the next major issue—the fiscal cliff. Analysts believe that there is a good probability that a long-term solution will not be negotiated before the cliff goes into effect in January. The sentiment among political leaders is that financial markets will not react severely if a solution for the fiscal cliff isn't … [Read more...]