We introduced the subject of financial literacy yesterday. Today, we’ll talk about concrete steps we need to take to ensure the next generation has a firm grasp on finances and money.
Continue reading More action, less talk about financial literacy
We introduced the subject of financial literacy yesterday. Today, we’ll talk about concrete steps we need to take to ensure the next generation has a firm grasp on finances and money.
Continue reading More action, less talk about financial literacy
Labor Day- that is the first Monday in September.
Labor Day used to signify that school was about to start- tomorrow! But, that calendar is no longer in vogue. Some schools started last week and some even began two weeks ago. Others won’t start for yet a few more days. But, it still is the harbinger of summer’s end for most of us. (Yes, I know that Autumn begins on 23 September [it used to be on 21 September], but the pools close today…)
As long as you do not operate as a partnership (partners only get a draw, fully subject to all taxes, including payroll taxes), the owners of an enterprise are expected to be paid a salary. That’s the IRS position- the one that counts.
I bet a slew of you saw this advertisement on the back page (behind the editorials) of the US’ major papers recently.
I read an article recently about a new trend. Ok. They thought it was a new trend. We’ve been doing that since the mid 70s. But, then again, like the products and processes we’ve developed, our ideas seem to be those to be trendy in a decade or two or three.
I mentioned the other day that Dupont appointed a new CEO- one that agreed to merge with Dow. And, Edward Breen was chosen as the interim CEO because he was thought to be the perfect one to turn the company around. After all, he was the one who turned around Tyco International- as long as you recognized that he did so by selling off the company piece by piece. (Oops. Maybe that’s why Dupont chose him, for real, since in essence the Dow-Dupont merger is a process whereby the merged company will be split up into three new companies- and will shed a slew of businesses, to boot.)
I was reading a series of complaints by some pretty small offshoot organizations that are getting their dose of publicity. For one, I heard about it’s parent- NARAL- the National Association for Repeal of the Abortion Laws. The other claims to be a group of unions (Working Families Party) that has electoral power- results for which I can see no evidence. And, in this case, neither seems particularly powerful- unless you count 8 protesters as a major event.
I could pick a million examples. OK. Maybe only 2000 or so. So, I’ll pick one.
My son and I were off to visit the college of his choice. We had a tight window- we were leaving in the morning, to return that evening. He had a track meet the next day.
I’ll bet you won’t be surprised when I say I send articles to my friends and family. But, you may be surprised to know I send them several times a day. Of course, I am positive it’s information they ABSOLUTELY have to know and have. Well, I did that again last week. But, this time I only sent it to my son, because I knew it could be very important to him.
I have written about “reasonable compensation” rules, as they apply to those small businesses that employ the “S” (that used to mean ‘small’ business) designation. This designation means one is incorporated or has set up an LLC and elected to be taxed as an S entity. (The IRS demands you provide them a signed- by each and every stockholder- Form 2553.)
Continue reading What? I am losing money and must take a salary?