Fee-Based Financial Planning Services: A Look At The Perks And Pitfalls As A Business Owner

10 August 2019
 Categories: , Blog

Financial planners are an important service provider for business owners, and there are basically two ways financial planning services are offered: either fee-based per service provided or by contract as a contracted agent. Fee-based financial planning services have their pros and cons to consider. Here is a look at those perks and pitfalls to help you make the best decision.  Perk: You will not have to commit to a long-term service contract. Read More 

What To Do When Your Taxes Jump Because Of Settled Debt

5 June 2019
 Categories: , Blog

Settling old debt can be a relief, especially once the money is out of your account and the bills and calls stop. However, in the United States, settled debt brings with it another issue: extra taxes. Yes, you owe taxes on the forgiven portion of your debt because that's considered extra income. When you settle, you pay part of the total due, and the unpaid part is forgiven. Because you're no longer sending your income out to pay that debt, it's the equivalent (in the IRS' eyes, at least) to suddenly getting a nice windfall -- just one that appears over time, rather than all at once. Read More