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Five Ways to Use LinkedIn to Build Your Business

March 27, 2014

When you think of social media, you probably think Facebook and Twitter.  For organizations and individuals looking to expand  their businesses, however, LinkedIn can be a valuable social media tool. The professional networking site boasts more than 250 million members, as well as 3 million-plus company web pages. LinkedIn members tend to be educated and…

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Health Care Act May Make HSAs More Attractive

March 20, 2014

Health Savings Accounts (HSAs) allow you a tax-advantaged way to fund your health care costs and the 2010 health care act may make HSAs even more attractive. Why? Because the act sets a higher threshold for deducting medical expenses. What’s the New Floor? The tax code allows you to deduct qualified medical expenses — such…

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Six Ways to Survive An IRS Audit

March 18, 2014

The chances that an IRS agent will come calling with news that your tax return was selected for an audit are mercifully low. Overall, about 1% of individual tax returns are audited each year, according to the 2012 Internal Revenue Service Data Book. Of those, about three-quarters are correspondence audits that are handled by exchanging…

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Buy-Sell Agreement Can Help Save Your PR Agency

March 17, 2014

There are many reasons why a PR agency or any other business should create a buy-sell agreement. After all, you never know what may happen down the road. Your agency might go through a change in ownership. Partners may choose to leave the agency, die or become disabled. Such occurrences illustrate the need to have…

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The IRS Offers a Simpler Home Office Deduction

March 17, 2014

If you’re one of the approximately 3.4 million U.S. taxpayers who claim a home office deduction on your tax return, you may find the calculations a bit easier going forward. Earlier this year, the IRS announced a simplified option also known as the “safe harbor” option, for calculating the home office deduction. You can use…

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Required Minimum Distributions (“RMDs”)

March 15, 2014

What Are RMDs? An RMD is the minimum amount that must be withdrawn from certain retirement plans each year. The IRS calculates the RMD amount by dividing a participant’s account balance as of December 31 of the prior year by an IRS life expectancy factor. For example, suppose you have a 79-year-old retiree with an…

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