Self-Employed? Reporting your income may be more beneficial than you think!

moneyIf you are a self-employed individual, you have at your discretion to be flexible when reporting your income and deductions on your tax return. Of course, if you receive 1099s, this income will be reported to the IRS, however if you receive cash payments or unreported income, you may be go unnoticed.  Besides, will the IRS really know you receive those payments last year?  Hey, no one is looking – right?

Wrong! Even if you never been audited or never will, these type of decisions will be certain to catch up with you down the road. Continue reading

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Run your personal finances like a small business!

Business man and woman

Few of us think of our personal finances as a small enterprise. But just like any business or government agency, we must watch our bottom dollar.

How do you run your personal financial house? Do you raise the debt ceiling to meet needs? Or do you operate on a budget and save for rainy days?

Whatever method you use to operate your personal finances, you must run things like a small business. Continue reading

Tell Your Boss to Kiss Your Future! Three Financial Steps to Becoming Your Own Boss

Ok, you can see it in your dreams, the money you will make, becoming your own boss and more importantly, creating your future dynasty.  Your new business is finally closer to reality… and you can finally tell your boss to kiss your future!

But wait, hold up!  Are you really financially ready to venture out on your own?

Starting your own business requires a financial commitment. It also requires an additional commitment to get your personal financial house in order.  So, before hanging your shingles, consider these tips to ensure a smooth financial transition. Continue reading