If you own a business, you’ve always got a lot on your mind. But no matter how busy you are today, you need to think about tomorrow. Specifically, you’ll want to create an exit strategy for the day you want to move on from your business to a new phase in your life.
To develop this strategy, you’ll need to
The Setting Every Community Up for Retirement Enhancement (SECURE) Act 2.0 was signed into law on Dec. 26, 2022, as part of the Consolidated Appropriations Act, 2023. SECURE Act 2.0 (“Act”) made significant changes to the rules for individual retirement accounts (IRAs) and employer sponsored retirement plans. Most written summaries of the Act focus on the individual changes impacting how
By definition, business owners put a lot of their financial resources into their enterprises. But as an owner, you may need to invest in more than inventories and payroll to help achieve the future you’ve envisioned.
Here are a few investments you may want to consider:
Despite its slightly shady-sounding name, the Backdoor Roth contribution is a perfectly legal and efficient strategy that can be used by higher earners to be able to make Roth IRA contributions that they are otherwise prohibited from making. But care is required.
In this article, I will address:
Who needs to make use of a Backdoor Roth contribution?
Who does
During a divorce, property must be divided in a just and right manner. In a Community Property state (California and Texas are examples), this means all property acquired by either spouse during the marriage stands to be divided. Even if the couple never legally married – same-sex couples or opposite-sex couples – each party may have an equity claim to
When it comes to choosing an ownership transition strategy, owners of closely held businesses have a lot to think about. What transition options are available? And which of these options are a good fit for the goals of both the owner and the company? Clear and cogent answers to these questions can be elusive.
From our experience, we know that
Why are business owners and their advisors talking about ESOPs? With capital gains taxes on the rise, ESOPs are playing an increasing pivotal role as an exit strategy. Join our webinar on October 19 to learn about Tax Reform & ESOPs. Learn about Employee Stock Ownership Plans and hear special guest Shane Lieberman of the US Office of Public Policy
I get lots of calls from people asking about the advantages of investing in mortgage notes. Most of those calls come from landlords who own one or more rental properties, and they share a common dilemma. The reason they bought rental properties was to have stable, monthly stream of income—not because they wanted an endless stream of headaches from tenants.
Divorce is difficult enough. What could add to the anxiety that divorce brings? Taxes. If you are one of the many people who recently divorced this year, as a result you will be coping with new tax issues, and you may be filing your own tax return for the first time. Here are several tips to help you handle tax