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As one year winds down and another revs up, it’s important for any company to address the elements of its business budget. If any of the major items are askew, it could diminish the value of the time that’s put into the budgeting process and weaken the effectiveness of the budget itself. This article discusses the process, which involves analyzing the numbers, reviewing inventory and services, and evaluating risks. A sidebar looks at one consulting firm’s tips on improving the process.
Making a charitable donation should feel good in and of itself. But doing so can feel even better when the effect on one’s tax bill is positive. This article offers a few fundamental ways to donate the right way. It notes the importance of determining whether the donee qualifies as a charitable organization according to IRS requirements, and goes on to discuss the form of one’s donation, how much is deductible, and keeping good records.
This issue’s “Moneylines” looks at the taxation burden borne by S corporations, the importance of checking job-seekers’ references, and how social networking can help a company with its next technology purchase.
After “Bill” joins an investors’ club, he realizes that he and his wife, Evelyn, must consider the potential impact of capital gains on their family’s tax bill. In this issue’s “Practical Perspectives,” the couple’s financial advisor discusses some of the basics, such as “basis,” short- vs. long-term capital gains, and differing tax treatments.
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