Business owners who make frequent presentations have worked hard in developing their skills; however, those who speak in public only occasionally may be much less confident when they find themselves having to make a presentation before clients, for professional colleagues, or at a conference.
Business owners may benefit substantially by employing family members. Income tax savings can be obtained through a variety of deductions, exemptions, credits, and strategies. These benefits may be available regardless of a business’s structure (corporation, partnership, or sole proprietorship).
Regardless of which phase of the business life-cycle you’re in, you can get SMART about setting goals to motivate yourself, move forward to grow your business, and track your success.
Whether your business is a start-up or established, financing decisions will directly affect the potential growth and profitability of your business.
We all know the old adage, “never put all your eggs in one basket.” Well, too often, business owners may do just that. However, not only is another saying, “variety is the spice of life,” true, but diversifying into a variety of investments also makes sound financial sense.
In the rush of daily business activities, business owners can lose sight of what they had originally hoped to accomplish through their continuous efforts. Over time, as the business grows, personal objectives may also change.
As a family business grows, the owner must ultimately consider how the business will prosper when he or she exits the company.
The image of a loyal employee spending a lifetime with a single employer—and then retiring with the proverbial gold watch—is simply a notion, as career jobs have never existed for most workers, and still do not, according to a study by the Employee Benefit Research Institute (EBRI)
In a highly competitive job market, attracting and retaining the best employees is not always an easy task. You need to take advantage of all strategies at your disposal. A nonqualified benefit plan can help you “sweeten the pot” for your top performers.
The deductions individual business owners can take advantage of and the value of these tax breaks will vary considerably depending on the nature of their business activities, their income levels, and other factors that they may be able to adjust to maximize their tax benefits.
