Category: Business Advisory

United State IRS form 5500-EZ in close up

Filing Form 5500-EZ for Your Self-Employed 401(k) Plan

Filing Form 5500-EZ for your Self-Employed 401(k) Plan There’s good news if you’re a solo entrepreneur or self-employed individual and want to enjoy the benefits of a 401(k) retirement plan: Congress has created a special type of 401(k) plan just for you. Known as a Self-Employed 401(k) or a solo 401(k), this plan is similar […]

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Picture of a black SEP-IRA booklet on a desktop

Simple Employee Pension (SEP) IRA – 2022

The majority of retirement savings among Americans today comes from employer-sponsored retirement plans. However, four out of 10 full-time employees in the U.S. don’t have access to a retirement plan where they work.* The main reasons for this are that their employers believe it’s too expensive to set up a retirement plan and they don’t […]

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Craftswoman with tablet computer ; representing a small business owner with a Solo 401k

Self-Employed (Solo) 401(k): A Retirement Plan Option for Solo Entrepreneurs

Solo 401(k)s are specially designed for small businesses with no employees, including solo entrepreneurs and the self-employed. Here’s everything you need to know to determine if a Solo 401(k) is the right retirement plan for you and your business. Since they were first introduced in the early 1980s, 401(k) plans have become the most popular […]

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young business people sitting at a conference table; representing small business using SIMPLE IRA

Savings Incentive Match Plan for Employees (SIMPLE IRA) – 2022

Lots of small business owners want to help their employees save for a financially secure retirement by offering them a retirement plan. However, the cost and complexity of most plans, including the popular 401(k) plan, dissuade many from doing so. This is one reason why more than 40% of full-time employees in the United States […]

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Business people meeting representing Succession Planning for Family Owned Business

Family Business Succession Planning: How to Get Started

Does your family-owned business have a succession plan in place? If you don’t, you aren’t alone. Despite family firms making up 90% of all business enterprises in the U.S., 47% of owners who want to retire in the next five years say they don’t have a successor.

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2 businessman meeting

Succession Planning for Small Businesses

Succession planning is one of those things that many owners know is important, but often don’t get around to doing it. In fact, up to half of small business owners who plan to retire in the next five years say they have not yet named a successor, according to the Service Corps of Retired Executives […]

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signing life insurance policy, representing the use of insurance for succession planning

The Role of Insurance in Your Succession Plan

Don’t overlook the importance of life insurance and long-term care insurance in your small business’s succession plan. A little work today can mean peace of mind for your family and your business tomorrow.

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2 people reviewing and signing paperwork, representing a buy sell agreement

Buy-Sell Agreements Are Essential to Any Small Business Succession Plan

You can help to ensure the continuation of your business by creating a detailed succession plan that contains a buy-sell agreement. This agreement is the heart of your succession plan and acts like a will for your business – it states what will happen to the business once your involvement ends.

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two people looking at paper work, representing determining business valuation

Know What Your Business is Worth. Four Common Business Valuation Methods

Do you know the value of your business today? Here are four common business valuation methods used by industry practitioners.

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Person running on treadmill

Seeking More Success? Try These 4 Entrepreneurs’ Morning Routines

Establishing a morning routine helps you to be more productive and seize the day. Trade in your unproductive morning habits for some of the best morning routines according to these four successful entrepreneurs.

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