As tax time rolls around, many people look forward to getting a tax refund. Their first thought is often, “how can we spend it?” This year consider saving your refund instead of spending it. Over 30 percent of Americans have no savings at all and another 30 percent have less than $1,000 in a savings [...]
The cash flow is the lifeblood of any business; it gives business owners the means to buy the goods they sell and pay their employees. For many small businesses, uncertain cash flow can hold them back from reaching their full growth potential. One of the most common culprits of poor cash flow is late-paying customers. [...]
Basically, even cancelled or “forgiven debt” from a lender is still taxable income, according to the IRS. As such, it must be included as income on your tax return. Debts which you are personally responsible such as credit card debt, mortgages and some student loan debt are included. […]
