Month: April 2012

How important is location to business success?

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…

Late filing IRS penalties

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 apply if you forget the federal income tax filing deadline. The…

Gambling income is taxable

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 any other, is taxable income. So are prizes from bingo, lotteries,…