It's a time-honored recess tradition that should a group of kids find something on the ground, then "finders, keepers" is the binding contract. Despite how silly it may sound, this is effectively what Armory v Delamirie sought to define: what constitutes, and who can claim, ownership of an object.
How To Reduce Taxes For Retirement
If you're looking to reduce your taxes so that you can save up enough for a nice retirement, there are a few ways you can do this. 401k Options One thing you can do now, to help save for retirement is to use your 401k plan. Specifically, you can use something called a “partial in-service
Gregory v Helvering & the Old Roots of Modern Financial Duplicity
Gregory v Helvering (1935) is not the most well-known financial case, yet this Great Depression-era piece of litigation is fascinating for a number of reasons. Perhaps the most notable reason for its appeal is its relevance to more modern financial scandals. Although this case is almost a century
United States v Winthrop & the Test for Ordinary Income
United States v Winthrop (1969) is a case in which the court rejected the capital gain classification and ruled that certain transactions were sales made in the ordinary course of business. Understanding the distinction between business income and capital gains is critical for any taxpayer as
The Ideal Small Business Budget Breakdown
A budget breakdown is one of the most crucial segments of a business plan. It is a skill that every small business owner needs to stay informed on the sales cost, reinvestment budget, and to know when you are financially ready to bring in employees into your business. Setting a budget also enhances
What To Expect For The 2022 Tax Season
Federal income taxes seem ever-changing and shrouded in a veil of vague rules and complicated math. Tax season offers relief for some, as they anticipate extra funds for the year. But for others it is a time of stress as they wonder how much they owe the federal government. But what if the veil
What is Mark to Market Accounting?
If you owns a small business, then you're most likely always pushing the limits for further profits and opportunities within your company. If that is the case, then learning this concept could very well lift your business to greater financial heights. Imagine having a method to reliably account for
How to Do Payroll Yourself
Payroll management can be a struggle for small businesses. You need to take into account state and federal necessities and ensure the lot is legally sound. Failure to do so will result in fines with many businesses paying upwards of $1,000 for inaccuracies. You have two options: do it yourself or