Everyone needs a solid estate plan to distribute assets according to their wishes and benefit their heirs. But this necessity is especially keen for business owners, many of whom have spent years working hard to build up the values of their companies.
If you can relate to this statement, one effective way to reduce estate taxes is to limit the amount of appreciation in your estate — and your company may provide just the ticket for doing so. [Read more…]
By William E. Rogers, MBA, CFP, EA
If you’ve been following the headlines lately, there’s a growing uneasiness being felt among many. I have certainly encountered some of this in a few recent client meetings. This general sense of fear stems from a whole host of issues: fear of another terrorist attack, the election, and an overall feeling that things are coming apart here at home and abroad. Moreover, I would venture to say one of the greatest unspoken fears today is the economy. You see, there are still many people in this country who have not yet fully recovered from the financial crisis of 2008. Furthermore, there are large segments of the population who might have recovered financially but are still recovering from the psychological and emotional toll of the financial crisis. I personally knew several people who not only lost their homes and jobs but also had their lives turned completely upside down. It has been devastating for many middle-aged people nearing retirement, to have a lifetime of hard work and savings evaporate overnight. How does anyone begin the process of putting the pieces back together after going through something like that? [Read more…]
Many businesses start life small and simple. But with growth comes the need for a stronger company infrastructure and increased operational sophistication. As you pursue a more robust business, focus on these four pillars:
1. Organizational management
Implement a formalized system for measuring performance that begins with written job descriptions and training. Issue a clearly written handbook of company policies. Give employees regular and constructive feedback. [Read more…]
Many companies reach a point in their development where they have to make an important decision: Innovate themselves or acquire a competitor? Of course, it isn’t always an either/or decision. Nonetheless, business owners should consider the pluses and minuses of both approaches.
Innovating to grow
Innovation is a broad term that encompasses many strategies — all of which are intended to help the company achieve goals such as boosting profits, improving cash flow, or diversifying products or services. Common strategies are: [Read more…]
Would you drive a car without a functional dashboard? Perhaps once a month someone could tell you how fast you were going and how much fuel you had left. Sound good? Probably not. Yet this is how many business owners run their companies.
The good news is there’s a business solution. With the right software and some help from our firm, you can regularly receive dashboard reports that provide a one- or two-page summary of key business performance metrics in a concise, visual format. [Read more…]
It’s time to start a community in which we foster the entrepreneurial spirit in everyday people. It is my belief that each and every one of us possesses an “inner entrepreneur” that is waiting to be unleashed. It has been my lifelong work to inspire entrepreneurialism in ordinary people.
Entrepreneurialism not only can create endless business opportunities, but it can also transform the communities and society that we live in. [Read more…]
Thank you for joining us on the new website ASCENDBusinessAdvisory.com. The purpose of the website is to serve as an objective resource when it comes to business, accounting, taxes, accounting automation, and most every aspect of your back office operations. The website will continue to grow in the areas of business resources, blog posts and guest blog posts in the months ahead. [Read more…]
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