IMPACT ON TAXATION & FINANCE

Choose Your Tax Preparer Carefully

Not because your tax preparer has a big name means you are getting better service. On the contrary, you may be shortchanged during the process, since the large conglomerates outsource, train and hire individuals who do not necessarily execute in your interest. There are tax preparers; and there are tax preparers. Anyone can call himself/herself a tax preparer. Although many do, there's no mandatory national licensing. There is no national standard for qualification. Oregon and California are the only states that require tax preparers to actually take a test. That means as many as 600,000 tax preparers are unregulated, according to the National Taxpayer Advocate, which is the taxpayer assistance wing of the IRS. Licensed preparers, who are usually CPAs or enrolled agents, are tested and must meet ongoing education requirements. Unlicensed preparers do neither, which is a general accepted principle. Some set up shop in local real estate offices, but many work for the big chains.

IMPACT ON REAL ESTATE

Divorce-Proof Your Business

By Edgar Henry

Before "I do's" turn to "I don’ts," make sure your business is well protected. This analogy may sound unromantic, but when all is said and done, it is worth its weight in gold. Here are some things to consider for your prenuptial agreement before tying the matrimonial knot. No matter how bizarre it may seem, when lovers have substantial worth prior to marriage and they are engaged in a relationship with plans to exchange those vows, they ought to seriously ponder on implementing a prenuptial agreement. Surely, there was a time when only the wealthy executed such agreements. Nowadays, more and more couples, especially those who own businesses and have been married before, need to evaluate and contemplate the pros and cons of a prenuptial agreement as part of their wedding plans.