Give yourself a raise
Before you reach out to potential coaches, ask yourself these questions.
Unfair advantages in conventional wisdom
Conventional advice on its own will not help you find your unfair advantage.
Do you qualify for PPP2? Here’s what to know.
In late December, Congress passed a second round of Paycheck Protection Program funding for small businesses. One of the features is a second draw, meaning you can get a second forgivable loan for your business if you meet certain criteria. First, let’s talk about what first draw and second draw mean. First draw means the […]
Choosing a Small Business Retirement Plan? Consider These 6 Things First
Did you start your business to improve your financial security? You’re not alone – according to Entrepreneur Magazine, about two-thirds of US small business owners say they were motivated to start a company to have better financial stability. Part of financial stability is personal wealth. For that, a small business retirement plan should be near […]
How To Talk to Your Banker
Most of us talk to our business banker to set up our first account and maybe when we need a loan. The rest of the time, we’re chatting with the tellers or our bank’s digital assistant. Fostering a better relationship with your banker has serious upside, though. As a self-funded small business owner, your banker […]
What You Need to Know about Open Enrollment
What You Need to Know about Open Enrollment Every year around this time I get a lot of questions from small business owners and entrepreneurs about Open Enrollment. Let’s go over the basics. What does open enrollment mean? Here’s the open enrollment meaning from our friends at Merriam-Webster.com Dictionary: What’s available during open enrollment? Medical, […]
3 Ways to Avoid an IRS S-Corp Penalty
Got an S-corp? Here’s How to Avoid an IRS S-corp Penalty What’s the #1 mistake S-Corp owners make?Not taking a W-2 salary. Almost everyone I know makes the same mistake in their first year as an S-Corp: not paying themselves enough or any amount as an employee. As we slide toward the end of year, […]
Tips for Evaluating Benefits Plans and Communicating Options with Employees
Tips for Evaluating Benefits Plans and Communicating Options with Employees Most of us think about medical insurance, which is the biggest and most expensive benefit for our employees. But benefits can include a wide range of free and low-cost perks that help you and your team save money on taxes. When evaluating your benefits package, […]
Set up 401K if funding
What You Need to Know About 401ks Are you making the (mistaken) assumption that you can’t have a 401k because you’re a solopreneur? Even if you’re just one person, you *can* have a 401k. It’s called a solo or self-employed 401k and is offered widely. Key Differences between a 401k and an SEP Now, there’s […]
Evaluate Your Benefits Offerings & Payroll
Small Business To-Do: Investigate Corporate Health Insurance Plans We’ve got just about three weeks before November 15 — the day we have to make final decisions about health insurance for ourselves and our employees. While you’re not required to offer healthcare coverage if you employ less than 50 people, investigating a group plan makes sense […]