In real estate it may be location, location, location but in business it's definitely recordkeeping, recordkeeping, recordkeeping.   In my August 28, 2012 post, I used the TV show Shark Tank to demonstrate the importance of keeping good records and knowing your numbers.   Why am I bringing it up again?   Because it's THAT IMPORTANT! I encountered 2 business owners today that don't keep good records - 1 has to amend his return and the 2nd came to

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I recently met with a client that had come into a pretty significant sum of money.  The first thing she did, to the chagrin of her financial advisor, the bank, and some friends, was pay off her mortgage.   Many people, banks included, suggest that you keep the mortgage because of the tax deduction.   While you do get a tax deduction for mortgage interest, we’ll see below how much this deduction actually saves you. Truth be

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If you follow us on Social Media, the following situation will sound very similar to a local story that I recently posted. The phone rings. The caller says they are from the Internal Revenue Service and they claim you owe taxes and must submit payment through a wire transfer or prepaid debit card. Or you receive an email supposedly from the IRS asking you to share your bank account, credit card or Social Security number. 

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