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Tips to Help You Prepare for Hurricanes, Natural Disasters

Wed, Sep 28th 2016
With hurricane season underway, Woodcock & Associates offers advice to those impacted by storms and other natural disasters. Here are some tips to help you prepare for such events: Use Electronic Records. You may have access to bank and other financial statements online. If so, your statements are already securely stored there. You can also keep an additional set of records electronically. One way is to scan tax records and insurance policies onto an electronic format. You may want to... Read More »

How Selling Your Home Can Impact Your Taxes

Mon, Sep 19th 2016
Usually, profits you earn are taxable. However, if you sell your home, you may not have to pay taxes on the money you gain. Here are ten tips to keep in mind if you sell your home this year. Exclusion of Gain.  You may be able to exclude part or all of the gain from the sale of your home. This rule may apply if you meet the eligibility test. Parts of the test involve your ownership and use of the home. You must have owned and used it as your main home for at least two out of the five years... Read More »

New Overtime Rule May Mean More of Your Employees Qualify for Overtime Pay

Mon, Sep 12th 2016
A new overtime rule takes effect on December 1, 2016, and the Department of Labor estimates that over 4 million workers will become entitled to overtime in the first year of the change. If your employees are included in that number, now is the time to begin preparing. Here's what you need to know. The background. The Fair Labor Standards Act mandates the federal minimum hourly wage and time-and-one-half pay for hours worked beyond 40 in a week. The Act exempts certain "white collar" workers and... Read More »

Will You "Boomerang" After Graduating From College?

Tue, Sep 6th 2016
No matter your plans for your life after college graduation, the high cost of living, limited job opportunities, and considerable debt can become significant barriers to your success in achieving your goals. Other circumstances, such as a divorce or job loss, can make living independently a challenge. As a result, you may find yourself in the position of having to "boomerang" – that is, having to return to your childhood home to live with your parents. Although boomeranging may feel like a... Read More »

Maximizing Your Firm's Bonding Capacity

Thu, Sep 1st 2016
The information you present in your company’s financial statements gives sureties a sense of your company’s operating results and financial strength. You are more likely to get the bonding you want at a competitive rate when sureties believe that your company is financially sound and carefully managed. Here are some steps you can take between now and year-end to highlight your company’s strengths and make it more attractive to sureties. Take Time To Plan: Take the time necessary to present your... Read More »