You'll never be financially independent (and that’s a GOOD thing!) – you’ll use money to take those dream vacations; you may give some to your children and grandchildren when you pass; you’ll always have to use it in some form or fashion, so you’ll want to have a plan for it.
Perhaps your business began as a one (wo)man shop and you were successful enough to expand, or maybe you had employees from the get-go. Either way, one of your small business owner ‘hats’ is to provide a plan for both you and your employees’ retirements, while also doing what’s in the best interest of the company.
Being a one (wo)man shop is more challenging than you anticipated, but you’re loving every minute of being your own boss and the freedom it allows. However, you can’t neglect your “boss duties” of yourself – retirement planning. It’s easy to get so caught up in the now of your business that you forget to plan for the future of you. But that’s why you’re reading this article – to see what your options are and how you can best plan for your future.
When you chose to enter the entrepreneurial space, it was most likely to help people in some way. You can help make the lives of your employees better, simply by providing a savings vehicle for them.
“Selling in May” only to return a few months later in the hopes of capitalizing on winter gains is, put simply, an effort to time the market. And while it is often bad mouthed, market timing isn’t inherently bad.
Led by efforts from President Donald Trump, the Tax Cuts and Jobs Act (TCJA) was enacted in December 2017 and was the largest overall change to tax laws in more than 30 years. But what exactly did this tax reform do, and does it REALLY matter?
