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If You Love What You Do, Why Should You Make Plans to Leave?

Many business owners love the companies they’ve founded, whether it’s because of the work they do, the changes they effect, the money their companies provide, or something else. When you carve out a comfort zone within your business, you might question why you would want to plan for your business exit. Today, we’ll look at…
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Small businesses: Get ready for 1099-MISC reporting

Small businesses get ready 1099-MISC reporting

  A month after the new year begins, your business may be required to comply with rules to report amounts paid to independent contractors, vendors and others. You may have to send 1099-MISC forms to those whom you pay non-employee compensation, as well as file copies with the IRS. This task can be time consuming…
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Must You Fire Your Managers to Grow the Business?

Has your business become stagnant and stopped growing?  Could it be your management team?  Must you fire your managers to grow the business?  Building business value is a common goal among business owners. Many successful small business owners find that after years of growth, the company can begin to plateau. It can be frustrating if…
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Gift tax exclusion rules to take advantage of

Gift tax exclusion rules

  This gift-giving season you may be considering giving gifts of cash or securities to your loved ones. Make sure you are aware of the gift tax exclusion rules before doing so. Taxpayers can transfer substantial amounts free of gift taxes to their children and others each year through the use of the annual federal…
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How Long Does Planning for Your Business’ Future Take?

How long does planning for your business' future take?

One of the first questions business owners ask about exiting their businesses is, “Just how long does planning for your business’ future take?” The true answer is it depends. There are many things to consider as you shape your Exit Plan. You might have a business that’s worth $10 million but is overly reliant on…
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