Business Owners
Entrepreneurs and Small Business owners must understand many financial-related topics to operate a successful business. Some of those issues include the following.
- Legal Structure for the Business
- The choice of a form of ownership is a complex decision facing all business owners becuase it will have a significant impact on the initial start-up costs, the control, and flexibility in management, the taxation of the business and individual owners, the ability of the firm to raise capital and the business risk absorbed by the individual owners.
- Retirement plan
- The most common are SEP IRA, Solo 401k, Traditional IRA and Roth IRA. Comapring the features for each are important to ensure the business owner to maximize retirement savings.
- Health Insurance
- The business may be eligible for the Small Business Health Care Tax Credit
- Disabililty Insurance
- Business Insurance
- Paid Family Medical Leave
- Paid Family Leave is a benefit usually exclusive to salaried employees, but it's available to the self-employed in about 15 states.
- New Federal Reporting Requirement (Effective January 1, 2024)
- Business Tax Credits and Deductions
- Transfer/Sale Techniques
- Business owners, the family of the owner, and the business itself face extraordinary pressures when it comes time to transition the business to the next generation, or to sell the business. Below download free guide: What Issues Should I Consider When Planning for Sale, Disposition or Succession of My Business?
| what-issues-should-i-consider-when-planning-for-the-sale-disposition-or-succession-of-my-business-2024.pdf |
