Hastily exiting your career before the time is right can have a lasting negative impact on your retirement. Apprehensive workers unsure if it’s time to retire might benefit from one more year of work. If there is any doubt about your ability to retire, consider...
The merger-and-acquisition market for private companies has been very active. The activity should remain high as aging Baby Boomers look to retirement, many of them business owners for whom selling a closely held business is a key part of their financial plan. A great majority of...
It makes sense that so many business owners are nervous about filing their taxes. There are endless ways the process can go wrong – and no one wants to have the IRS come knocking. Unfortunately, it’s often small businesses that submit incorrectly prepared returns. Think about...
Many owners of private companies have been leery of operating as a regular C corporation. If you make that choice, you will be exposed to double-taxation of business income. First, a corporate income tax applies to the company’s profits. Second, any dividends that pass to you...
[video width="640" height="360" mp4="https://dehoekandco.com/wp-content/uploads/2019/06/social-security.mp4"][/video] While you can start Social Security payments at age 62, your monthly checks are reduced if you begin collecting benefits at this age. To claim your full benefit you need to sign up for Social Security at your full retirement age, which...
“We both claim single and zero, why do we still owe?” There is a common misconception that married couples are always subject to favorable tax treatment over those who file Single. While this is the case in most situations, it’s quite common that married couples can face...
This article reviews and analyzes recent law changes as well as rulings and decisions involving partnerships. The discussion covers developments in the determination of partners and partnerships, gain on disposal of partnership interests, partnership audits, and basis adjustments. During the period of this update (Nov....
Approximately 20 percent of small businesses will fail within their first year. When you consider that there were about 30.2 million small businesses in the country as of 2018, you can begin to get an idea of just how serious this situation is. It means...
What would happen if you were hit with an unexpected medical bill, a layoff or your adult son or daughter needed a quick loan to get out of a financial jam? Here is some practical advice to you—or to anyone you know who is facing...
Even the savviest of small- and medium-sized business (SMB) owners and operators have some common and seemingly insignificant business habits that creep into day-to-day work. All told, these bad habits can seriously impact a business’ longer-term profitability and viability. Maybe you’re dealing with tangible, finance-related issues....