Posts by Ted Jenkin
179 Reasons Business Owners Need This Tax Deduction
In the flurry of tax changes that happened for 2016, one of the most overlooked deductions by small business owners is the Section 179 tax deduction. This deduction was set up to allow business owners to deduct many different types of equipment used for their business. In fact, there were certain loopholes within this tax…
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5 BIG Overlooked Tax Deductions
Tax season is upon us and you might be asking what can you still do that can potentially reduce your overall tax liability. Here are 5 BIG overlooked tax deductions that people often don’t ask about or overlook come tax time. 1. Charitable Mileage Most taxpayers are very good at keeping receipts of their cash…
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How to Lead: Learning from the Powerball
A few Wednesdays ago, a magical thing happened at exactly 10:59 p.m. Millions of Americans were glued to the TV as the Powerball Jackpot escalated to heights never seen before in the history of the Powerball. Billboards had to change the M to a B in order to even let people know where the jackpot…
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How Much Mileage Can I Deduct This Tax Year?
During tax time, we often get questions from employees and business owners on how much of their auto mileage they can deduct on their tax return. This is one of the biggest questions where a slippery slope can occur without approaching this topic in the right manner. For most people including business owners, their automobile…
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Isn’t It Time to Refinance Your Life Insurance?
There’s a reason people love to shop at places including Costco and Wal-Mart. There’s the usual reasons that people like to get good deals, but more importantly if you are a smart money moves shopper, buying in bulk can often get you the best deal on what you buy if you really need the item.…
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3 Applications to Declutter Your Life
Every day, we become more and more inundated with the overwhelming onslaught of emails in our inboxes. Technology was supposed to make life easier, but in some ways it has just made us all more accessible. If you are like me, you would swear that every time you click the unsubscribe button that you automatically…
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Why People Still Don’t Know Their 401(k) Costs
On February 3, 2012, the Department of Labor published final regulations on fee disclosure for retirement plans. The final regulations were supposedly going to finalize the process where the DOL began to expand disclosure of compensation paid to service providers of ERISA-subject plans. In short, the idea of this regulation was to offer the consumer…
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When is the Right Time to Sell Your Business?
There are different reasons why business owners decide to build a business. Some do it for their family legacy. Some do it for the potential of a big cash-out down the road. Some just build a business so they don’t have to work for the man, and get the business to generate enough income to…
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Does Your Business Have a Beneficiary?
Working as a financial planner, I see a multitude of mistakes when it comes to will preparation. One of the most common mistakes I see is when people make their wills and don’t coordinate the will with the overall beneficiary designations they have chosen. Many entrepreneurs forget to consider their business. What will happen to…
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The Ultimate Holiday Tipping Guide
If I’ve learned one thing in business, it’s that you take care of the people who take care of you. Yet year after year we are faced with the same problem. The dreaded question of how much to tip those who keep us going throughout the year? It’s enough internal dialogue to make you think…
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