Blog
One Big, Beautiful Bill: What Trump’s Tax Legislation Means for Small Business Owners
The 2017 Tax Cuts and Jobs Act is made permanent, with new benefits for families and businessesThe bill advances to the Senate, but final passage is not expected until July at the earliestNow is the time to review your tax strategy and ensure your business and long-term financial plans are on the best courseThere was relief on Capitol Hill last Wednesday when the US House of Representatives narrowly passed President Trump’s “One Big, Beautiful Bill” (OBBB).
Captive Insurance Companies: A Strategic Tool for Risk Management and Tax Efficiency
Insurance costs are increasingly troublesome for small business ownersCaptive insurance companies offer tax benefits, greater risk-management control, and even financial planning upsidesThere are disadvantages, though, and captives may not be best for every entrepreneurSmall businesses are known to get creative. We like to try different methods, test new strategies, and act outside the box to solve problems. Breaking from traditional game plans can help grow the top line and keep costs in check.
Maximizing Benefits from Government Programs: Capitalizing on Available Resources for Small Businesses
Many federal, state, and local incentives have been created in recent years to boost small-business formation and activityThe list of grants, tax credits & deductions, and initiatives is long, and it can be head-spinning to know where to find themThis guide helps spot opportunities and offers tips to improve your business’s chances of approvalSmall business owners wear a lot of hats. You run daily operations, manage cash flow, have a hand in hiring, and direct long-term projects.
Tax Season Reflections: Strategy, Deadlines, and What Comes Next
This week’s insight celebrates Tax Day and all the joys that come with it.My CPA friends will take much-deserved vacations in the weeks ahead—once April 15, 2025, is history. You, too, are probably glad to have all your documents sorted, data entered, and returns filed to the IRS. Small business owners often face headaches completing so many requirements. For those who plan and work with a financial team to strategize, there’s actually a bit of satisfaction and maybe some smugness knowing that you legally and ethically kept more of what’s yours.
Wealth Transfer Strategies for Business Owners: Minimizing Taxes, Maximizing Legacy
Wealth Transfer Strategies for Business Owners: Large Legacy, Small Taxes
Cash Balance Plans: A Tax-Saving Strategy for High-Earning Entrepreneurs
This week’s insight spotlights cash balance plans and how they, or other retirement savings vehicles, could save you big dollars come tax time.
Tax Time Tips for Entrepreneurs: Navigating 2024’s Small Business Tax Landscape
This week’s insight keeps on the tax-code theme (as the April 15 filing deadline looms!).One of the best effects of the COVID-19 pandemic, precisely five years ago now, was an entrepreneurial spirit that swept America. The government tracks this via a metric called “high propensity business applications,” which is a code term for new business formation. After steadily rising at about the pace of overall economic activity during the 2010s, new-company filings soared starting in mid-2020.
Markets Wobble in February: Growth Scare and Sector Shifts Keep Investors on Edge
A Growth Scare Spooks Stocks, But February Losses Held In Check
Bonus Depreciation: Potential Revival and Its Impact on Small Businesses
This week’s insight is an update to a small but important piece of the tax code that’s currently withering away: Bonus Depreciation.Bonus Depreciation allows firms to immediately deduct a large percentage of the purchase of eligible assets rather than writing them off over time, thereby potentially reducing a business owner’s tax bill. Last week, President Trump hinted that 100% Bonus Depreciation might be in the works as part of one “big, beautiful” tax bill that’s supposedly being crafted in Congress.
Understanding Business Valuation: A Guide for Small Business Owners
Entrepreneurs should always know how much their company is worth whether it is for a potential sale, succession planning, or just ongoing financial planningWe’ll go through some of the most widely used valuation techniques and why they matterKnowing the common pitfalls, the best value-maximization strategies, and tax implications is imperative to making the most of your small businessFor many people, a house or a retirement nest egg is their most valuable asset.
January Stock Surge Signals Strong 2025: Economic Growth, Earnings, and Risks Ahead
Stocks Jump in January on Solid Economic Data & Earnings, A Good Sign For 2025
Creating a Business Continuity Plan: A Crucial Step in Small Business Financial Planning
Risk management is key to your company’s long-run viabilityA Business Continuity Plan (BCP) prepares for all sorts of risks with a focus on protecting a business’s valueJust like with a personal financial plan, a BCP eyes long-term success and risk management strategies to put in place todayWe talk a lot about the long game in our blog. Indeed, small businesses need to plan for the years and decades ahead when it comes to areas like taxes, exits, and your retirement.
Where’s Santa? Stocks End 2024 on a Whimper. Looking Forward to a Strong 2025
December was a tough month for most areas of the market amid returning inflation jittersThe S&P 500 dipped to close out the year, but strength in the Mag 7 kept the decline in checkGoing forward, we see bullish factors outweighing bearish risks, and we detail our 2025 outlookThe S&P 500 fell 2% in December, ending the year on a down note, but it was a second straight year of 20%-plus gains for US large caps. Returns away from mega-cap growth (namely the Mag 7 stocks) were less impressive.
January Tax Tips: Setting Your Small Business Up for Success in 2025
This week’s insight rings in the new year with a glass full of tax talk. We’ll try not to party too hard.Small business owners aren’t so much concerned about post-New Year’s hangovers as they are with the headaches that come with taxes in January. It seems like every year there is some new requirement that demands your time and energy. Fear not. Let’s outline how to avoid tax follies in 2025.
Navigating Employee Stock Ownership Plans (ESOPs): A Guide for Small Business Owners
An ESOP is a retirement plan that puts ownership in the hands of workers, offering tax advantages and a succession opportunity for the ownerWhile the initial costs are high and plan maintenance is required, established small businesses may find ESOPs to be ideal for promoting long-term growthCompanies with 30-100 workers may be best suited for an ESOPRewarding and motivating employees with a stake in your company can be an effective strategy.
Insurance Strategies for Small Business Owners: Protecting a Company’s Future
Learn about the right mix of insurance policies for your business, including safeguarding against emerging risksSufficient insurance can be a cornerstone of growth, instilling confidence across stakeholder groupsFind out how to save money when shopping around for plans and why a risk management strategy is critical in today’s economyDo you know about that thing called the “success” tax? No, it’s not some new law struck on Capitol Hill or a would-be estate planning nightmare.
After Hurricane Helene: 5 Essential Steps for Small Businesses to Prepare for Natural Disasters
This week’s insight urges all of us to count our blessings and prepare for the next potential natural disaster.Last week, Hurricane Helene gave us in the Florida panhandle a scare. Destin was spared the brunt of the category 4 monster, but our friends to the east were not so lucky. Devastation was the worst in upstate North Carolina and the surrounding areas. It will take months, if not longer, for Ashville to recover from deadly flash floods, and we continue to pray for those affected.
Securing Your Legacy: Essential Planning for Small Business Owners
Legacy planning is crucial to a company’s long-term success and your financial futureDocumenting your values, a business succession strategy, and regular check-ups helps mitigate risksA well-crafted legacy plan weaves together your business life and personal financial goals Small business owners I work with are often nose-to-the-grindstone and focused on daily operations. Long-term growth is the name of the game. What’s sometimes overlooked, however, is the end strategy.