Studies show that only 30% of family businesses survive the transition from the founder’s generation to the next generation. Of the companies that weather such transitions, less than half successfully transfer the business to a third generation. Such statistics demonstrate the importance of succession planning, a task that can be especially difficult for small...
Remember August 8, 2011? That’s the day the Dow Jones Industrial Average fell more than 600 points after the first-ever Standard & Poor’s downgrade of U.S. debt. The Dow’s one-day drop was its biggest point loss in a single day since December 1, 2008,...
How important is location to business success? For years, real estate developers have recited the mantra of “location, location, location,” and start-up businesses do well to take heed. Location is often the single most important determinant of a company’s success or failure. Place your...
Late filing penalties Sometimes smart people forget to do smart things — and when taxes are involved, a lapse of memory may be costly. For example, two penalties can...
Gambling income is taxable Think it’s a good bet that Internet gambling will soon be legal in your state? One thing is sure: A payoff from that wager, or...
Save on pet costs Studies have shown that over 60% of all families in the United States own a pet, and pets aren’t cheap. The cost of basic food,...
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