Mar 20, 2023 | Small Business, Structure
Two weeks ago in part one, we discussed the first two of four leading factors to consider when selecting your entity, and here, we cover the final two. 3. Taxation Your entity selection dictates how your business will be taxed. If your business entity is a sole...
Mar 6, 2023 | Small Business, Structure
Among the different business entities, all companies should be one of the following legal structures: a sole proprietorship, partnership, corporation, or limited liability company (LLC). While you should consult with us before making your final decision, here are four...
Feb 20, 2023 | Growth, Small Business, Successor
Be careful to avoid these three common mistakes business owners often make when naming successors. Such missteps can cloud your objectivity and diminish your chosen candidate’s ability to effectively take control of your company. 1. Attempting To Clone Yourself When...
Feb 6, 2023 | Risk Management, Small Business
Each year, between 35% to 53% of small businesses in the U.S. are hit with a lawsuit, according to the Small Business Administration (SBA). Here we’ll cover three of the most common sources of court and conflict for businesses we work with. By understanding the causes...
Jan 23, 2023 | Small Business, Start-Up
Starting your own business is exciting and scary, and you’re bound to make numerous mistakes along the way. Here are four lessons you don’t have to learn by trial and error. 1. Be Open About What You Don’t Know Ask your CPA for yearly projections of what you’ll owe in...
Jan 9, 2023 | Estate Planning, Small Business, Trust
To make certain your business—and the income it generates for your family—continues to run smoothly when something happens to you, you need to create a comprehensive estate plan, and it really needs to include a trust. Without such a plan, your business will be stuck...
