July 5, 2016
It’s fair to say that the recent ‘Brexit’ vote by Britons to exit the European Union (EU) has shaken global financial markets to their core, at least in the short-term. Financial analysts say that it’s too early to tell what the long-term impact of this historic vote will be. But one thing is for certain, the Brexit offers several important lessons that individual investors and business owners can take to heart as they review their own situation at mid-year.
It is likely to be years before we know how the Brexit will affect the financial strength of our domestic and world markets. This makes it more important than ever to keep the above tips in mind, and to consider doing some proactive mid-year planning to protect your own individual and business finances this year, and in the years to come. Need help with your mid-year planning? Contact our firm today, we look forward to assisting you.
If you’re claiming deductions for business meals or auto expenses, expect the IRS to closely review them. In some cases, taxpayers have incomplete documentation or try to create records months (or years) later. In doing so, they fail to meet the strict substantiation requirements set forth under tax law. Tax auditors are adept at rooting out inconsistencies, omissions and errors in taxpayers’ records, as illustrated by one recent U.S. Tax Court case.
If you’ve ever yawned your way through a wordy, boring document, you might have wondered if your own writing was as hard to understand. Luckily, there’s a great tool to measure the readability of your writing, and it’s as close as your word processor. (Note: For this article, we use Microsoft Word as our example. Details will vary if you use another application.)
Over the past year, we’ve all spent more time than usual at home—which may mean you’ve paid more attention to your utility bills than in previous years. If you’ve noticed a creep upward, here are some easy ways to help keep your energy costs down.