The end of the year is coming up fast, particularly for small business owners. While there are a million details to resolve in what may be your busiest time of year, it is wise to think about the fiscal health of your business. There are a several tax and financial tips that can make a big difference going into the New Year.
Estate planning and special assets
The internet has made it easier to sell or determine the value of collectable objects. Nevertheless, families may have no idea what the value of some old stamps, rare books, comic books or even that vintage car. Perhaps a parent was a little self-conscious about how much they spent on pieces of art, or they simply saw no need to share the monetary value of their vinyl record collection.
FTC shuts down overseas real estate scam
Real estate investments can be risky, particularly when it is for property outside the United States. Serial scammer Andris Pukke and others have now been charged with swindling more than $100 million out of American investors for property located in Belize. According to the Federal Trade Commission, this is the largest overseas scam that it has ever investigated and shut down.
Unwrapping the mystery of probate
After a loved one dies, you and your family will likely experience many endings and closings. Among these is the process of probate, which legally closes a deceased person's estate, pays any lingering debts and distributes the remaining assets.
Last minute adjustments to lower your tax bill
This year was the beginning of the new Tax Cuts and Jobs Act. This means that taxpayers will likely need to make some adjustments to help reduce the potential for underpaying or overpaying their taxes. While there are just a few pay periods left before the end of the year, there are some tips that will work in the 11th hour for reducing or addressing your tax obligation.
