2020
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Time-Consuming Tasks To Send Off To Your Small Business's Accountant
When you open a small business, you need to retain a number of outside contractors to ensure its success. In particular, you can benefit from hiring a certified public accountant to oversee your finances and bookwork. This contractor can provide a number of valuable services that can underlie your success as a business owner. They can handle time-consuming yet important financial tasks that you cannot ignore or delay. Keeping Your Books Current
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5 Ways To Avoid Paying Taxes On Cancelled Debt
Debt relief through the cancellation of a debt owed—when a lender "writes off" the remaining portion of debt for various reasons—can be a big help when you are struggling under a debt burden. But this action does have tax consequences that often come as a surprise to borrowers. Cancellation of debt is generally taxable income on your annual Form 1040. However, there are important exceptions that don't require you to pay taxes on this income.
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3 Key Tips To Reap The Benefits Of A Special Purpose Entity
When you buy real estate as an investment, you need to protect your financial investment as much as possible. One way that many real estate investors do this is by creating a special purpose entity or special purpose vehicle. This separate business entity distances your personal finances from the business obligations so that your risk is vastly reduced. But in order to receive the legal protections you want from your special purpose entity, you must take a few steps.
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