Monthly Archives: June 2017

Do You Need a Lawyer to Sell a Business?

The decision to sell a business can be very challenging. Determining a fair price and finding a quality new owner to take over operations is just the beginning. There are a multitude of complicated legal and financial decisions that need to be invested in the process to ensure the deal is fair for both parties. Planning ahead when selling your business is very important as it can save you a lot of money for your retirement. How Should You Plan for Selling Your Business? Seek out a team of professionals: Unless you are well versed in local tax laws, business transaction laws, and an expert in business valuation, getting a business transaction attorney, accountant, and business broker will be necessary to avoid making huge sales errors that could greatly devalue the transaction. Plan your taxes: According to entrepreneur.com, mistakes made on the tax details alone could sacrifice 50 percent of…
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Why Should I Check My Credit Score?

A credit score is something important that can factor into several decisions. Whether you are trying to secure a loan, apply for new housing, or a new job, a credit background check could be completed to see if you are eligible. A poor credit score can make it difficult to secure these important items, and your credit score may not be an exact reflection of your credit history. Mistakes on credit reports are quite common. You can get a free copy of your credit report from the three major credit bureaus once a year. How Is Credit Score Calculated?Payment history, amount of credit owed, length of credit history, new credit, and type of credit used.  Bankruptcy and late payments are included in payment history scores. Different factors have varying degrees of weight in the overall score. What Are Some Common Reporting Errors? False identities: Credit agencies have been found to…
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5 Ways to Start Saving for Retirement

Saving for retirement is something that many Americans forget to do. A study conducted by the Federal Reserve’s Survey for Consumer Finance in 2013, found that 53% of households aged 55 to 64 had savings in retirement accounts. This means that millions of Americans approach retiring age do not have account savings to rely on. However, there are always options available to start saving soon. It’s never too late to start new financial habits. 5 Common Retirement Saving Options Social security: This government retirement program can be applied for online, and instructions and details about eligibility requirements are included on their website. Pensions: Many workers in the Government, or social services may be eligible for pensions. Talk to your employer about different pension options. 401K: These are employer-sponsored retirement plans that allow tax-free contributions to the account, and employer matching contributions in many cases. IRAs: These are individual accounts that…
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