Whether your business tends to slow down or speed up in the summer months, there are a few things small-business owners may consider to cut expenses as the temperature rises. Here are six savvy ways for small businesses to save money during summer.
While it may seem that fishing and investing are completely unrelated, believe it or not, there are some characteristics that make a person good at fishing that can also transfer to investing. Here are six fishing lessons you can apply to your investment strategy.
Patience
As a business owner, you may assume you do not need professional financial advice until you hit certain milestones such as $1 million in sales, having ten employees, or some other tangible measure. However, financial professionals may benefit small-business owners no matter what the stage of their business.
Your business represents a substantial investment of your ideas, time, and money (in addition to your sweat and elbow grease). Because your business faces a variety of risks and perils (e.g., property damage, theft, personal injury claims, and natural disasters), you'll want to protect your investment.
If you and your spouse are making plans to retire, you’re probably wondering whether it’s a good idea to retire at the same time. Many couples go through the same thought process and, in fact, one in four couples quit their jobs within a year of each other.
When people think of life insurance, what usually comes to mind is settling the deceased's final expenses and providing financial support for their beneficiaries. Although these are the most common uses of life insurance, cash value, or whole life insurance, they offer financial resources to other situations. Here are six cases where using life insurance may be appropriate:
For business owners, estate planning may seem like another task to do on a long to-do list. Having a solid estate and succession plan in place may be crucial to your business's long-term success. If you are incapable of making business decisions, or if you unexpectedly pass away without an estate plan, your heirs may scramble to keep your business afloat.
There has long been a perception that “going green” adds to the cost of doing business.
Each time you start a new job, your employer will give you a Form W-4 to complete that determines the amount of Federal income tax that is withheld from each paycheck. While many people prefer to have too much tax taken out so they can look forward to a refund in the spring, overpaying your taxes means you are allowing the IRS to hold onto your money.
For the owner of an interest in a small- to medium-sized business, such as a proprietorship, partnership, or corporation, the problem of an untimely death cannot be underscored too markedly.
© 2022 Business Owner Succession Strategies. All rights reserved.
