As a business owner, financial responsibilities can be complex, especially when it comes to tax obligations. One crucial aspect that often surfaces is dealing with 1099s. In this quick guide, we’ll discuss the common scenarios in which a 1099-NEC might be issued: It’s essential to keep accurate records of payments made and consult IRS guidelines […]

Many advisors to business owners think a sale to key employees is a great option for companies that don’t reach the “sale to third party” threshold. Typically, they define this threshold as the point at which a business can be sold for (largely) cash. Depending on a variety of factors, this threshold is usually around […]

“My investment advisor suggested that I sell my company to an ESOP. Is that a good idea?” “My estate planning attorney recommended that I begin giving my business to my children. What do you think?” “I’m getting tired of running my business every day. My accountant thinks a sale to a third party is a […]

Building a business is challenging enough as it is. With the right Advisor Team, you can focus on business challenges while your advisors create strategies that help you compound your success in the future. But how do you build an Advisor Team that works for you instead of against each other? Consider the story of […]

There’s a big difference between not wanting to retire and not being able to retire. Even business owners who intend to die at their desks can appreciate the safety net of financial independence should something unexpected occur. But many business owners look forward to an ideal future without implementing the proper planning to achieve it. […]

The last two-and-a-half years have been tumultuous, and owners of small to mid-sized businesses have borne the brunt of the pain. Though few people could have predicted the effects of the pandemic, business owners with plans for a successful future tended to feel more comfortable confronting the challenges they faced. Now, as whispers about a […]

In all likelihood, you are absolutely critical to the success of your business. Without you, there is no business. We want to fix that. With a little luck and a lot of hard work, we can help you become an Inconsequential Owner. Having said that, perhaps a bit of explanation is in order. All owners […]

At their core, successful business owners like you are builders. Whether you founded your business, or purchased one and took it to new heights, doing it yourself runs through your veins. Why, then, would you need professional help to plan for a successful business future? We could go on and on about all the reasons […]

It is safe to say 2020 was full of surprises. Some businesses thrived, while in other areas jobs were lost, companies were forced to go under, and we even lost loved ones along the way. Many businesses were affected by the pandemic in some way or another. According to a survey conducted by the PNAS […]

The strongest businesses often have written plans for how to address unexpected events and mitigate risk, known as business continuity instructions. Their owners ask questions like, “What happens if a co-owner or I die?”, “How do we protect key employees from competitors?”, and “How do we address interruptions in our supply chain?” Here are three […]