Month: October 2021

Five Financial Tips for Small Business Owners

small business owner
Having a Firm Hold on Your Finances is Crucial to Your Company’s Success

Small businesses are vital to the U.S. economy, employing half of the private-sector workers in our country. They also create 1.6 million net new jobs annually, according to federal data. As of 2020, there are 31.7 million small businesses in America, which accounts for 99.9% of U.S. businesses.

Despite an integral part they play in the economy, small businesses often struggle to find success. In fact, the U.S. Bureau of Labor Statistics has reported that 20% of small businesses fail within the first year of opening and only one-third of businesses are able to survive the 10-year mark. The leading cause small businesses cite as the reason they were forced to shut their doors is – you guessed it – cash flow problems.

When it comes to the success of your small business, having a strong wealth management strategy in place and practicing smart money habits can play a significant role in your long-term success. Follow these five tips to help keep your business on track.

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Planned Upcoming Tax Changes for 2021

Tax Changes 2021
The 2021 Tax Year Is Bringing Some Surprises With Itbut Here’s What We Do Know

Recently, there has been a lot of discussion about the tax plan put forth by the Democrats and the corresponding changes it may bring. While there is still a lot that is unknown, some of the upcoming tax changes are certain and can begin being planned for. Below is a summary of some of the items that will change in the 2021 tax season.

Financial planning provides a plethora of benefits; however, it also comes with many challenges considering it’s impossible to completely prepare for an unpredictable future. Despite the impossibility of being able to fully prepare for what the future holds, a smart financial plan can still provide you with the flexibility and strong financial foundation you need to respond to whatever it may bring.

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Understanding the Most Common Types of Employee Equity Compensation Plans

equity compensation
What You Need to Know About These Valuable, Complex Benefits

Equity compensation can be an incredibly valuable employee benefit, but it can also be a complex subject matter to get your arms around.  Not only are there multiple types of equity compensation, but each has unique characteristics you should keep in mind in order to maximize its value.

Below, we’ll discuss the most common types of equity compensation and dig into the potential challenges and unique benefits of each one so that you can make smart decisions for your financial situation – and avoid costly mistakes, too.

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