All business leaders begin their endeavors with the best intentions. But the tough reality is that not all businesses succeed. They can fail for any number of reasons: subpar management, poor execution, or maybe they simply had bad timing. But some entities that should succeed fail because they encounter financial hardship. It is rare for…
It is the question every entrepreneur with dreams of owning their own business has asked, and for good reason. Taking the plunge and starting from scratch isn’t cheap. There are a lot of startup expenses to take into account, such as inventory, property and vehicles, not to mention the high operation costs of keeping everything…
The formula hasn’t changed. If you work 40 hours a week year after year, eventually you are supposed to be able to relax, lounge around and enjoy all the fruits of your labor. But for some, the choices they make now is threatening to dim the promising light at the end of their tunnel. Achieving…
You’ve heard the sayings. I’m starting a business to have more free time. You have to spend money to make money. Financial numbers don’t matter anymore. While there may be a kernel of truth hidden in these age-old adages for some business owners, these misguided beliefs are regularly impacting business’ bottom lines and killing otherwise…
It’s no secret that tax codes are complicated. Lowering your tax liability and saving your money depends on maxing out the number of tax breaks you take and deductions you claim, but navigating the complex and ever-changing web of rules can be overwhelming. Not to mention the fact that the most common tax breaks, like…
So you have decided to take the next step and go forward with selling your business, but you are worried about the tax implications that come along with it—and for good reason. When deciding whether or not to sell, many business owners shy away at the uneasy prospect of their postsale tax liability negating their…
Our primary goal at Rosillo & Associates is to minimize your tax liability. So whenever we hear about taxpayers who may have missed possible money-saving deductions, credits and refunds, it’s like nails on a chalkboard. Compounding the pity is the fact that most taxpayers do not even realize that they can claim deductions and save…
Starting a new business is a dizzying undertaking, made of equal parts excitement and responsibility. There are a seemingly endless number of things to take care of, boxes to check and hoops to jump through on your way to becoming established and successful. However, along the way many startups fall into the trap of overlooking…
Every Spring (and Fall for those of us who filed extensions), millions of honest tax-paying citizens file their returns, willfully submitting their personal information to the IRS, whether it be through attorneys, seasonal tax-employees, tax software or good old-fashioned snail-mail. Unfortunately, every year about this time a percentage of those millions fall victim to tax-related…
Planning for retirement is a no-brainer. The wisest among us are constantly investing back in themselves, looking for ways to save money down the road. One of the reasons the individual retirement account (IRA) is so great is that it is “individual,” meaning it is customizable. You can modify your deposits, take withdrawals at will…
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