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Business Strategies

Four Critical Elements Help Set The Price
Four critical elements help in setting the right price for your products and services. Most businesses rely on a traditional "costs and competition" analysis when setting a price for a product or service. However, if that’s your exclusive approach, you may be selling yourself short.

Optimal pricing requires a balancing act. The "right" price is the highest amount you can charge without driving away your customers. To arrive at that figure, you’ll need to consider the following four factors.
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Manage AGI To Keep Your Tax Breaks
At tax time it pays to read the fine print.
A variety of allowances, deductions, credits, and exemptions are phased out as income rises. If your income reaches these "phase-out" levels, you may lose tax benefits.

For example, let’s say you finally snag that big promotion. If the promotion causes his year’s income to climb into the phase-out zone, your deduction for college bond interest or child credits may be reduced. The result? You earn more money, but more of it is taxed. Your big promotion – after taxes – is now smaller. Read More . . .

Expanding your business
Thinking of expanding your business? Here's what you need to consider first.
Your business is profitable, with demand strong and rising. Is it time to expand? Part of the answer depends on intangible factors such as your vision for the company's future and your personality traits. For instance, if you hate to travel, expanding the business's physical presence into a different geographical market could lead to burnout and an ultimate lack of success.

But taking on a partner, merging with a rival, or purchasing an existing firm in a complementary niche market may be expansion alternatives that are suited to your strengths. Here are other issues to consider when you're thinking about expanding your business. Read More . . .

Using compounding to build your wealth
There are several ways to earn income on investments, but compounding may be your most reliable path to wealth. Read More . . .

IRS tells businesses how to compute phone tax refunds
Just as marriages don't always work out, there is no guarantee that a business partnership will be successful. Before you enter into a partnership, here are some questions you should ask yourself.
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Tax and Business Strategies from Strange & Coats, PC, Certified Public Accounts

Blueprint For Tax Savings
You need a blueprint for 2007 tax savings.
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New rules on direct deposit
The IRS is reminding taxpayers about the new options for the direct deposit of tax refunds.
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Inheriting A 401(K)
Inheriting a 401(k) plan has always been a mixed bag. For surviving spouses, the process is relatively painless since the 401(k) can be immediately rolled over into an IRA in the spouse’ name. For others, however, becoming an heir of a 401(k) plan can trigger significant tax. Read More . . .

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