If you don’t have an employer-sponsored retirement plan, ask us to review options with you. Such plans may help you save on taxes, provide creditor protection, and support your retirement goals. Carefully evaluate your business (entity) structure (i.e., Sole proprietorship, S or C Corp, LLC, etc.) Each structure has different tax consequences and liability protections. …
Business Planning
Know the Value of Your Business
Business owners are always keeping multiple balls in the air. Thinking about exceptional execution today, while keeping an eye on their vision for the future. With that in mind, we recommend that business owners consider both formal and informal processes to understand the value of their business. Why? Whether you are ready to formally think …
Business Owners
Increase Your Retirement Savings “As a business owner, how can I save more for retirement while mitigating taxes?” Business owners grapple with this question often. We know that business owners focus on reinvesting profits back into the growth of their business. And, while this is a great practice, it can mean that individual retirement savings …
Financial Planning for Business Owners
As many of you know, I have been a business owner for more than 30 years. Working with fellow business owners is one of my passions – and having a financial planner as an integral part of your advisory team has many benefits. Advisors who have a depth of knowledge in financial planning are a …
IRA Vs. 401(k) Vs. Roth – Part 1
Retirement Savings I have found that professional, super-smart people, that I personally know, do not know the difference between an IRA, a Roth IRA, and a 401(k). That will simply not do. You need to know this stuff. We’re going to fix that right now. The challenge will be keeping it short and sweet because …
IRA Vs. 401(k) Vs. ROTH – Part 2
Last week, we talked about the differences between an IRA and a 401(k). Both are types of retirement accounts, and the 401(k) is typically administered through an employer, whereas almost anyone can open an IRA. Now, we are going to talk about the Roth versions of these same investment vehicles. I described them as different …