You face plenty of challenges as a small business owner. Finding ways to protect yourself against lawsuits is a major one. You may be able to add protection by structuring your business as a corporation or limited liability company (LLC). Both these entities may shield the owners’ or members’ personal assets from the company’s debts […]
A Very Smart Money Step for Gen Z
If you are in your first “real” job and starting to make decent money, odds are that you’re focused on enjoying your life, your friends, and your new freedom. You probably don’t think about an event that’s 40 or 50 years down the road — your retirement. Yet strangely, now is probably the best time […]
And to My Executor, I Leave My Passwords
What would the consequences be if, after your death, no one could access the information you have stored electronically? If you’ve protected your accounts or files with passwords, it could easily happen. Computers have changed the way we manage our personal and financial — and often, our professional — lives. And they’ve also created new […]
Renting Residential Real Estate — A Tax Review for the Nonprofessional Landlord
Investing in residential rental properties raises various tax issues that can be somewhat confusing, especially if you are not a real estate professional. Some of the more important issues rental property investors will want to be aware of are discussed below. Rental Losses Currently, the owner of a residential rental property may depreciate the building […]
Charting a Long-Term Course
Stock market volatility can be a wild ride. If you follow the daily price movements of a stock market index, it’s enough to make you dizzy at times. If you watch the same index’s performance over longer periods, however, you may notice that things tend to smooth out. Unless you’re close to retiring and will […]
What Is Your Most Valuable Asset?
Your most valuable asset isn’t your real estate or the tech stocks you bought in the 90s that have done well. It isn’t even your business per se. Your most valuable asset is you — specifically your ability to run a profitable company and make money. Are you protecting that asset from the risk that […]