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Michael F. Reilly, CPA, PC • Monthly Newsletter

August 2014 

Taxes and disability issues: An overview

Do you live with a disability, or care for someone who does? If so, you may have disability-specific tax questions about income, deductions, and credits.

Here's an overview.

Depending on your disability and income, other exclusions and tax benefits may be available. Call if you would like more information.

 

Ask the right questions before you start a business

There are several questions you must answer before you even consider starting a new business. Unfortunately, some would-be-entrepreneurs spend more time planning their summer vacation than they do the start of a new business. Most of these businesses will fall into the three out of five start-ups that fail in the first five years. The statistics vary from industry to industry, but about 30% of new business start-ups close down in the first year of operation. Another 30% will fail in the four years that follow.

How can you increase the chances of a business's survival? Here are a series of questions you should answer before launching a new business. Nothing can guarantee a new business will be a success, but being well armed with the right information can certainly help.

 

Scams target seniors

Seniors are a favorite target of scam artists. According to one survey, seniors over the age of 60 have lost nearly $3 billion a year to financial fraud. Here are a few of the tactics used to bilk seniors of their money.


This newsletter provides business, financial, and tax information to clients and friends of our firm. This general information should not be acted upon without consultation.



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