The skillset most managers develop over time often relates entirely to managing in an office. Stopping by a direct report’s desk to check in, scheduling one on one meetings or taking them out to coffee to catch up on their progress. If they have a question about a line item on the Cashflow Statement, you can teach them how to find the answer by walking them through your accounting software and Balance Sheet. Read more
When you own real estate investment properties, there are a lot of tax benefits to be aware of. One of those is depreciation, and it can save you quite a bit of money on your tax bill. While you probably already take other deductions on your property, the depreciation benefit is an extra one that’s separate from the other deductions. Thanks to depreciation, some real estate investors may pay little to no tax on the income they receive from their properties. But that doesn’t mean depreciation is magic, or that there aren’t any potential problems and pitfalls to consider. Here’s what you need to know about depreciation.
The COVID-19 pandemic has caused a great deal of financial hardship for individuals and families. If you are in a position of financial security, you may be thinking of lending money to struggling family members or close friends. A little bit of help in these challenging times may be just what your loved ones need to get through until they can find work and get back on their feet again. While lending money to close family and friends is a kind gesture on your part, you should be aware that there are tax implications to plan ahead for.