Building your own business takes a lot of courage and considerations because it requires great effort to acquire some level of recognition an already established business may have. Yet if you feel that purchasing a business that is already in existence is the best option instead of starting one from the ground up, then you must critically consider the following before purchasing one.
Whether your business is big or small, it will eventually face some problems that can cost you a significant sum if you do not have the right insurance in place. In order to protect yourself, you need to know the type of risks your business may face so that you can find the best insurance policy that will cover those risks. Check out these common types of insurance that every business should have, and see how they can significantly help your business.
They say the Tax Cuts and Jobs Act is the biggest overhaul of the US tax system in 30 years. The impact will spread far and wide, starting with a significant cut in the corporate rate from 35% to 21% and lower levies on repatriating overseas profits. Yet, like the rest of us, you're probably wondering, "So, what does that have to do with me?" Even with the biggest impact aimed at businesses, there are still several changes to the personal income tax laws, and we highlight them here just for you!
If you're in the unfortunate position to consider filing for bankruptcy, there are a few things to keep in mind before choosing what would be right for you and your business. It's important to know all the options before making any decisions. Check out this quick guide to see how each one differs, and which one would be most useful for your situation.
Any business, no matter what size, needs a proper succession plan for the future in order to be successful from generation to generation. A bad plan, or not having a plan at all can ruin all your hard work, as it did for the Stroh family. Stroh's beer was one of America's most impressive family fortunes and due to poor business decisions and bad investments, the massive beer empire disappeared in just two decades. Read here how the family could have prevented the downfall.
People often assume a Will is everything they'll need to take care of their business when something bad happens to them, but that can actually cause more problems and cost for their family than necessary. To ensure your business is passed on to your family exactly the way you want, you need to have a comprehensive plan that takes your life and business into account. Now check out these 4 key elements every business owner must have in their plan.
Starting a new business can be extremely difficult without motivation and the right support system. In fact, success for your business depends greatly on your confidence which is increased with the support of your family and friends. It is important that you make it clear to yourself as well as others how serious you are so they understand what your business means to you. Here are some tips to help you get started.
You may never have guessed that your legal and financial decisions can actually affect your marketing strategies. Well they can. Marketing your business is not just about how you advertise on social media - it comes up at every touchpoint you have with the client (i.e., in your contracts, emails, website, and over the phone). Having an efficient plan that gently covers all bases is the key.
There are many options when it comes to managing your assets for retirement, but which ones really give you the best security throughout life while you're still growing and saving? Here are just a few of the benefits with for transferring your 401(k) assets into an IRA. Let the real saving and growth begin!
No matter what kind of business you're running these days, studies now show that not having a social media (or even an online) presence will decrease your revenue potential by 25% in the coming years. But managing your company's social identity on top of everything else that comes with running a business can seem daunting; yet, it doesn't have to be! Here are some general tips to get you started and help you protect your reputation online.