Let Our Firm Help Your Start-Up Business Succeed
For many entrepreneurs who start their own business, it often becomes clear that managing their company’s finances and taxes can be a full-time endeavor in and of itself—not to mention keeping up with the impact that being a business owner can have on their personal finances. That’s where our firm can help relieve the burden.
If you’re just starting a new business, our firm can guide you through the process of entity selection, provide valuable tax planning advice, and help you optimize your accounting structure. And, when your business grows to the point that you need professional back office and tax preparation support, look no further than our team of financial professionals to deliver comprehensive, affordable solutions that allow you to focus on growing your business—not day-to-day financial management.
Our firm will also partner with you throughout the year to ensure that your new business is in compliance with the latest tax codes, that your tax payments remain on track, and that your tax burden is reduced whenever possible. We’ll also ensure that your personal finances are on track and that you taking full advantage of any potential tax savings related to your unique situation.
Let us be your trusted financial advisor—with you every step of the way as your business and personal financial needs evolve. Contact our firm today.
From Our Blog
8 Retirement Moves You’re Most Likely to Regret
Quitting work too soon. One-third of all retirees will live to be over 91 years of age. Avoid the mistake of rushing to retire as soon as possible. Working until age 66 instead of 62 will increase your social security benefits by 25 percent. You can expect social security payments 75 percent higher if you wait until you’re 70 years old. Overestimating investment returns. Stock market returns can be depressed for 10 years or more. Just because the average return is 7.0 percent after adjusting for inflation doesn’t mean it’s seven percent every year. Be realistic in your assumptions about future returns.
Filing for Bankruptcy as a Retiree
Calculate what your income is. Your income will determine if you qualify for Chapter 7 or Chapter 13 bankruptcy. Income qualifications vary from one state to another, however, so it’s important to check the requirements for your state. Ensure your debts will be erased if you file for bankruptcy. Debts can be secured or unsecured, and some types of secured debts won’t go away when you file. What is Chapter 7 bankruptcy? Chapter 7 erases any unsecured debt, which includes medical bills as well as credit card debt. Your income has to be below a certain level for you to qualify for this type of bankruptcy and this level varies from one state to another. The downside of filing for Chapter 7 is that your assets will be sold to pay your creditors back. Your creditors will not be paid back if there are no assets to sell. What is Chapter 13 bankruptcy? Chapter 13 bankruptcy includes setting up a restructuration plan, usually with monthly payments. Filing for this type of bankruptcy means that you’ll have pay at least a portion of your debt. The main advantage of Chapter 13 is that your assets won’t be sold. However, you’ll have to prove that your income allows you to keep up with the repayment plan after subtracting your living expenses. Your secured debts also have to be below a certain level in order to qualify for Chapter 13. What kind of assets could you lose if you file under Chapter 7?
Things to Consider Before Lending Money to Family and Friends
Should you loan money to friend or family member? It’s […]
Top 10 Financial Challenges for Millennials
A lack of preparation for financial emergencies. Everyone needs an emergency fund. While the lack of an emergency fund is common within every age group, millennials are especially likely to not have any money set aside for emergencies. Strive to set aside 3-6 months of living expenses and you’ll be prepared for most financial emergencies. Failing to take advantage of 401(k) matching. If your employer offers 401(k) matching, take advantage of it. Not only will your money work for you, but your employer is giving you the same amount as what you’re investing. Considering future growth, your employer could be handing you a fortune – for free!
Think Like a CFO in Your Personal Finances and Enjoy a Brighter Future
Many people handle money well at work, but horribly at home. There’s a different mindset when you’re expected to act like a professional. What if you handled your personal finances with the same professionalism a CFO takes care of business? Discipline and professionalism can add a lot to your personal financial future. Just because no one is watching you doesn’t mean you can be irresponsible with your finances at home. Act like a CFO and take control of your money: 1. Live by your budget. Even the wealthiest companies have budgets that each department and manager are expected to follow. As your own personal CFO, you should prepare a monthly budget and chart any discrepancies. Then make the necessary budget adjustments. • If you don’t have a budget, creating one is the first order of business.
