Do you have a succession plan for your business? Having a clear succession plan is in the best interest of business owners’ families and their employees. However, there’s someone else who holds a key interest in the longevity of your company—your lender.
Fraud is nothing new. In today’s world, we are used to guarding against phone scams, email hackers, and online credit card and identity theft. But as we enter a new decade, fraud experts are advising against a new danger—abbreviating the date.
If your company comes in over budget year after year, you may want to consider cost management. This is a formalized, systematic review of operations and resources with the stated goal of reducing costs at every level and controlling them going forward.
On December 20, 2019, the Setting Every Community Up for Retirement Enhancement (SECURE) Act was signed into law. The SECURE Act contains 29 provisions, encompassing many aspects of financial planning and retirement saving. Once treasury regulations are released, nuances in interpreting this new law will become clearer. Until then, individuals are left to interpret the law’s effects based on the language of the law itself. This article will address what the SECURE Act entails and who it affects, as well as provide suggestions on how to plan for the changes that have been instituted.
For individuals who are sitting on large gains in investment or business property, a 1031 exchange may be a viable option for deferring those gains. While these transactions tend to be complex, working with an expert who knows the rules surrounding the exchanges and the options available for replacement property can help you decide if this would be an appropriate step to take.
Autumn brings falling leaves and … the gridiron. Football teams—from high school to pro—are trying to put as many wins on the board as possible to make this season a special one.
For best results, start your strategic planning early. Time flies when you’re having fun — and running a business. Although it’s probably too early to start chilling a bottle of bubbly for New Year’s Eve, it’s certainly not too early for business owners to start doing some strategic planning for next year. Here are some ways to get started.
Rule #1: When in doubt, refer to the trust document; an investment policy for a trust cannot be created without it.
One advantage of creating a trust is that the grantor can have it tailored to his or her needs; therefore, although there may be provisions in common, trust documents vary widely.
If you’re one of those people who is scrambling to finish your taxes by the end of the year, you may want to change your strategy by reviewing your finances mid-year. This is typically a great time for a check-up to make sure you are receiving optimal tax benefits and minimizing tax liabilities that may arise from changes in your life. Here are some things you should focus on for your mid-year tax checkup:
Going green in the workplace is a great way to protect our earth and increase awareness of the importance of environmental sustainability. Implementing sustainable practices in your business can drive profitability, attract new customers, motivate employees, increase efficiency, and help to protect the environment. Here are some easy ways to encourage sustainability in your business and do your part to protect our planet.
