Month: May 2022

Does a Small Business Owner Need a Financial Advisor?

The Right Advisor Can Help You Boost Your Small Business Profit While Preparing for Retirement

As a small business owner, have you wondered whether you need a financial advisor? Most often, the answer is yes.

While there are certain parts of running a business that you can teach yourself as you go along, managing your business finances with little or no background may not be one of them. In fact, poor money management is one of the most common reasons businesses fail. If you’d like help with things like building a budget, developing a smart tax strategy, and fine-tuning your cash flow, it may be time to hire a financial advisor. Read on to learn about the benefits and how to choose the best advisor for you.

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Estate Planning Tips for Small Business Owners

What You Need to Know to Protect Your Greatest Asset

Estate planning for small business owners isn’t always at the top of the to-do list, but it’s one of the most important steps you should take to set up a legacy of success. It may feel overwhelming to think about what happens when you pass on, but it’s critical to have conversations now to ensure all your hard work doesn’t go to waste.

If you don’t have an estate plan, then your local state law will likely dictate where your business goes after you die. There are many things you can do now to prepare, from focusing on tax efficiencies to drafting up a solid will and estate plan, that will help you secure the proper transition of your company.

Read on for six smart estate planning tips for small business owners.

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