US Reaches the Debt Ceiling, So What Do We Do Now?

The government officially has reached the $14.29 TRILLION debt limit last week. However, the US Treasury has taken steps to keep the country afloat until August. Since a federal law prohibits the federal deficit from exceeding $14.29 trillion, the federal government is now operating on IOUs while the 112th Congress continues to debate whether to raise the debt ceiling. As occurred in both 1996

Tax Planning for Business Owners

In 2010, one of the tax law changes affecting business owners is the Small Business Jobs Act of 2010, which provides $12 billion of tax incentives – including bonus depreciation, enhanced expensing, and other relief for small businesses. Eight Small Business Tax Cuts – Effective Today, Providing Immediate Incentives to Invest: 1. Zero Taxes on Capital Gains from Key Small Business Investments:

The Pursuit of Wealth

As we prepare to celebrate Memorial Day and soon July 4th, I started to think about desire in the United States of the pursuit of wealth. When I talk to people about this subject, they tell me that it is in the declaration of independence. So I decided to check and this is what I found:"We hold these truths to be self-evident, that all Men are created equal, that they are endowed by their creator

China's Inflation Problem Should Not Be Ignored

The People's Republic of China (PRC), commonly known as China, is the most populous state in the world with over 1.3 billion people and with approximately 9.6 million square kilometers (3.7 million square miles), the PRC is the world's third- or fourth-largest country by total area, depending on the definition of what is included in that total,and the second largest by land area. Also, China is

A Sad Story; Misalignment of Goals and Values

In the last couple of days, I was reading a book about improving personal effectiveness and it shares a sad story which I share with you here:Once upon a time there was an attorney at a Capitol Hill cocktail reception. This man has spent his entire life working to build one of the biggest law firms in the country - over 300 attorneys in the Boston, New York and Washington, DC. You would think

How To Pay Less Taxes

Tax time has already passed and many people do what they do every year and they forget about it until next year around March when they start stressing about it. I have decided to share with you throughout the year, tax tips that will help you accomplish something that all of us want; pay less taxes. After 20 years in the industry as a CPA and business advisor I want to share with you how you can