There’s More to Business Than Money: Values-Based Goals
Successful business owners often want more than just the maximum amount of money they can get. These owners have deeply ingrained values-based goals that guide why and how they do … Read More
Five Reasons That Owners Actually Do Sell Their Companies To Their Key Employees
1. Owner has already achieved financial security. Owners who have already achieved financial security (separate from and prior to any sale or transfer of their companies) enjoy the luxury of selling … Read More
The Magic Behind Writing Your Plans Down
For nearly 5,500 years, human beings have written things down. From Hammurabi’s Code and the U.S. Constitution to your personal business plans, writing things down helps people follow rules and … Read More
Walk Before You Run: Phased Planning
Planning for a successful future without your business is a smart strategy. One of the traps that business owners commonly fall into as they begin planning for their successful future … Read More
Poor Planning, Big Problems: The Tale of Tom Poor
“All those years of work are thrown away. To ease your mind is that all you can say? But what about that grandson on your knee? Them railroad songs, Tom … Read More
What to Do About the High Cost of Investment Income
The average cost to generate $1,000 in income from a 50/50 balanced portfolio historically has been about $25,000. Today, $1,000 of income costs approximately $80,000 from a balanced portfolio and briefly exceeded $150,000 for bond investors in 2020. The rising cost of portfolio income is a global phenomenon. Read … Read More
Change Is OK: How Planning Makes You Focused and Flexible
As a business owner, you manage all sorts of complexity in your work. Goals, expectations, and the people who help you meet them may change. But even though things constantly … Read More
Is a Family Transfer Right for Your Business?
When planning for the future, you have a wealth of options related to who should continue to run your business. Many business owners’ plans fall short because they are unaware … Read More
What Have We Learned?
It is safe to say that this year was full of surprises. Some businesses thrived, while in other areas jobs were lost, companies were forced to go under, and we … Read More
TAX GUIDANCE FOR PPP BORROWERS
IRS STATES BUSINESS OWNERS CAN’T DEDUCT EXPENSES PAID WITH PPP LOAN On November 18, 2020, the IRS provided a ruling on deductions regarding the Paycheck Protection Program (PPP) loan (Rev. … Read More