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Do You Really Need to Be an Owner?

Many of my microbusiness clients are successful freelancers or independent contractors. Every now and then, one of them will be asked by a business they contract with to become an owner in the business. Sometimes it may be a good idea, but in many cases it's not. As a freelancer or independent contractor, you control your expenses and your work experience. As an owner of a bigger business, you will take on…

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Don’t Sell Your Parent’s House – Yet

If you have an elderly parent who is moving to a nursing home or who needs to downsize, think carefully before you advise her to sell her home. If she has owned her house for a long time, she most likely purchased it for a very low price. If she sells it now, she will have to pay a capital gains tax on the sale price minus the purchase price. That could…

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