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Borrowing Money? Not All Interest Is Deductible For Taxes

Posted by XO Accounting on Aug 26, 2019 9:09:00 AM

If you’ve borrowed money from anyone other than a good friend or a family member, there’s a good chance you’re paying him or her interest. You may even be paying your friend or family member interest, depending on how long you’re borrowing for and how much they loaned you. That interest that you’re paying may or may not be deductible: a lot depends on what you’re using the money for. Let’s take a closer look at what makes the interest on the money you’ve borrowed eligible for a deduction.

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Topics: financial, small business accounting, planning

4 ways to make your business easier to sell

Posted by XO Accounting on Aug 12, 2019 9:09:00 AM

Perhaps you’d always planned to build a thriving business to eventually sell for a tidy sum – or maybe for unexpected personal reasons it’s best to let your company go sooner rather than later.

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Topics: sell your business, management, planning

Creating a financial plan

Posted by XO Accounting on Jul 29, 2019 9:08:28 AM

Depending on the current state of your finances, financial freedom might seem a long way away. For many people, financial freedom—when you don’t have to worry about how to pay the bills and your money is invested and making money for you—is a far off dream. What they don’t understand is how close financial planning can get them to that dream.

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Topics: financial, small business, planning

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