Financial Planning
Get legal advice on how to take control of your personal or business finances, whether you're tackling student loans, medical bills, taxes, or bankruptcy.
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How Are Incentive Stock Options Taxed?
If you receive a stock option from your employer, the type of stock option determines the timing of income you must report for tax purposes. The length of time you hold the stock acquired from the exercise of an option influences the type of income.
· 3 min read
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Balance Sheet vs. Income Statement: Which One Should I Use?
The right financial statement to use will always depend on the decision you're facing and the type of information you need in order to make that decision.
· 3 min read
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Consolidated Financial Statements vs. Combined Financial Statements: Which Should I Use for My Business?
Consolidated and combined financial statements are two different types of statements that help the public know whether it's worth investing in your company. Learn the difference between these statements and why you would pick one over the other.
· 3 min read
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Income Statement vs. Cash Flow Statement: Which One Should I Use?
Income statement or cash flow statement? The one you'll use will depend on the financial decision you need to make, because a cash flow statement provides you with a different set of information from the information presented in an income statement.
· 3 min read
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What Tax Return Does a Business Need to File?
Every business entity must report its income to the IRS, but it's not that simple. Which business return does your particular business need to file, and what other tax forms and deadlines do you need to keep track of?
· 5 min read
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When Are Taxes Due for Businesses?
Getting tax return and payment filing done on time is easier when you know what to expect and when they are due.
· 4 min read
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What Happens if You Miss the Tax Deadline? Penalties for Late Filing
If you miss the tax filing deadline, you will be subject to failure-to-file penalties. To avoid this, you should file an extension prior to the deadline. Extensions allow extra time to file a tax return, but it does not give you extra time to pay.
· 4 min read
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Finding an Honest Financial Adviser
If you want a good shot at putting your kids through college, enjoying your retirement and avoiding being a burden to your loved ones, you need a comprehensive financial plan. But in the post–Bernie Madoff era, whom can you trust? Wharton School Professor Kent Smetters gives you the top three questions that you should ask a financial adviser to make sure you are getting advice that fits your best interests.
· 4 min read
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Student Loan Forgiveness: What You Should Know
The student loan crisis has caused the government and President Obama to take action and create forgiveness programs. By pursuing one of these programs, you can partially pay off your debt and discharge any that’s leftover after several years.
· 3 min read
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Charitable Contributions: How Much Can You Write Off?
Your ability to deduct charitable gifts depends on the type of donations you make and the organizations receiving them.
· 3 min read
