Business News

Most investor’s/landlords obviously are very concerned about maximizing income and minimizing expenses.  With a rental property minimizing expenses means not having to pay for astonishing repair bills and litigation.  Chances are if your tenant has previous evictions or criminal activity they will have no problem working the system in their favor or treating the owner’s property with little or no respect.

By now most of the year-end tax planning opportunities have come and gone.  However, there are a few opportunities left to reduce your 2007 taxable income.  One of these is to open and make a contribution to a traditional Individual Retirement Account before April 15, 2008.  A married couple may be able to defer $10,000 in taxable income.

Help, my required distribution ate my retirement account.  Due to new regulations your required minimum distribution (RMD) could exceed your account?  Especially, if your retirement account is in a deferred annuity that offers a guaranteed minimum withdrawal or a guaranteed death benefit!  Each of these features has a value! 

Tax season isn’t far away and the Internal Revenue Service released a gift of its own — the newly updated tax-scheme debunker.

Happy New Year, taxpayers!  If you’re reading this column, the fun has likely begun to wear off.  You’re beginning to see something else came with the 2008: an all-new tax season.

As 2008 roles in, several new laws will take effect that are significant to real estate professionals and consumers.  Here is a brief summary of a number of these new laws.

When I hear people say, “The only things you can always count on are death and taxes,” I wonder if people understand how important it is to be able to depend on your tax preparer! 

For business owners, choosing the right bank is vital to the long-term growth of your enterprise.  At First Bank, one of the largest and oldest privately owned banks in the country, we recommend that you choose a bank that understands that nearly all banking is personal.

Tax selling is selling the underperforming stocks or options in your portfolio at a loss to offset any capital gains, or profits, on the portfolio you have made during the year. You can report capital losses on Schedule D to reduce the taxes you have to pay.  You can use $3,000 of your capital losses per year to offset any capital gains and reduce your taxable income.  Any amount in excess of that $3,000 can carry forward into subsequent years until it is used up.  But beware of the wash sale rule.

With a deep and diverse background in various technology sectors, Robert Gardner founded Santa Clarita Web Services in hopes of helping emerging small businesses navigate the turbulent waters of meeting their growing technology and web needs.

IRS started a National Research Program for Individuals in 2007 These Audits are more commonly known as one of the most difficult audits from examining every line item  to every deposit.

Santa Clarita-based Choppé Advertising Group was recently named Agency of Record for the Santa Clarita Valley Auto Dealers Association.  The non-profit association represents 13 dealerships located in the Valencia Auto Center, which comprise 17 franchises.

Barrister Executive Suites is located in the prestigious Valencia Gateway at 27240 Turnberry Lane, Suite 200 in Valencia.  Our Class A center is designed with your professional image in mind.  Ranked the number one executive suite in Southern California, Barrister can help make your business more profitable.  With Barrister, you will enjoy furnished or unfurnished offices with incredible mountain views as well as views of Six Flags Magic Mountain amusement park.  Recognized as the most experienced and service oriented executive suite operator in the industry, we focus on our tenants needs by providing all the amenities you would expect at a tremendous savings.

When we look deeper into situations, we may become aware of things that can help us be better at what we do.  I have lived in the Santa Clarita Valley since 1953.  Just prior to moving to the Santa Clarita Valley, I attended Robert Fulton Junior High School in Van Nuys.  Being an entrepreneur, I owned my first business at this time.  I noticed things that could help people be more effective.

Is it a wonderful tool or a terrible nightmare?  Both!  You’re seeing some of the cleverest advertising ever created touting the career moves you could make with monsters or monkeys.  I really do love the chimpanzee ads for Career Builder, as I’m convinced they are indeed old corporate co-workers of mine!  You’re led to believe that posting your resume on the Internet will quite immediately land the job of your dreams.  Maybe, but don’t count on it.

The natural tendency in life is for people to hate lawyers.  They are very expensive and besides having to pay your lawyer, you have to put up with the aggravation caused by the lawyer on the other side.  Things that are private and personal risk losing that protection.  Besides being expensive, litigation is emotionally draining.  You may think you have a great case.  But you might be wrong.  And being wrong can be very costly indeed.

The answer to this is based on two factors, liability protection and tax considerations.  How much liability protection you want to have is an argument best left to yourself.  Then as a business owner, you want to avail of the tax breaks under the law in order to maximize your profits.  Let’s take a quick look at the different business structures.

As you approach retirement, you will quite likely be assessing your financial situation to determine if you have saved and invested enough to afford a comfortable future.  Generally, financial professionals advise that to maintain your current lifestyle you will need approximately 70 percent to 80 percent of your currenta five to seven years before retiring will give you time to make adjustments to help you meet your goals when retirement time comes around.

Ken Jenne was once one of the most powerful politicians in Florida.  An influential Democrat, Jenne was a longtime commissioner in Broward County, a former state senator, and sheriff of the Fort Lauderdale-based Broward County Sheriff’s Office.