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Time is running out. Two of the most beloved generations are fading away fast and taking their hard-earned financial wisdom with them.

Members of the G.I. Generation, otherwise known as “The Greatest Generation” (born 1901-1924), were children during World War One and young adults during World War Two and the Great Depression.  They learned the importance of frugal living out of necessity and taught their children, members of the“Silent Generation” (born 1925-1945), the importance of living within their means—especially since how little their “means” were.

Somewhere along the way, those financially-conservative values were forgotten.  The Boomers were born between 1946 to 1964 and this generation became known as rebellious, suspicious, greedy, and materialistic.  Often referred to as “workaholics,” they worked … Read more →

We’re sure you’re aware that there is a right way and a wrong way to do your taxes. But sometimes, tax deductions aren’t as “cut and dry” as they seem.

Take, for instance, the junkyard owner who had a rodent problem. Instead of hiring an exterminator, he bought cat food and put it out to attract feral cats. The cats took care of his problem and he claimed the cost of cat food as a business expense.

Or how about the taxpayer who tried to claim the cost of a daily sitter for his dog? It seems this pet owner thought his dog was unable to make it through the day alone.

One of those deductions was successful. Can you … Read more →

Blood, sweat, and tears: the labor of love you pour into your business every day. It may be priceless from your standpoint. But will it have a fair market value on the street?

Here’s a question for you: How do you accurately translate your net worth?

A hundred dollars an hour?

A thousand?

Okay, we know, you’re worth every penny, but regardless of what it says on paper, you won’t be able to calculate the true value of your efforts until you have been paid. And by the way, don’t assume donating those hours will result in a big fat deduction at tax time.

What About Charity Donation?

When you donate time to a charity or you’re looking to deduct … Read more →

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