You have successfully survived the start up of your business, and you're now making some money. You know what that means? Taxes! One of the best tax strategies for entrepreneurs is funding a retirement plan. Let's look at two popular options, the Solo 401(k) and the SEP IRA
The Planner is CORE Group's blog and a way to help others interested current tax planning and service news.
In today’s economy, most Americans are looking into gigs that can support their lifestyles, their finances and overall income. You could be working for Uber or DoorDash, posting product reviews on YouTube or being an Airbnb host.
In today's bustling job market, you might need to hire an employee or two. Do you know what kind of employee you want to employ? A 1099 contractor or W-2 employee?
Accountants are weird. They use funny words and use lots of spreadsheets. One common word is Capital Improvements. Similar words that they use to describe the same things: Capital Assets, Fixed Assets, Property, Real Estate, FF&E (Furniture, Fixtures, & Equipment). In the accounting tax world, all of these terms describe something with an economic benefit beyond one year.
You're not really getting paid to learn, but it definitely pays to learn.
Ask any entrepreneur about their business goals and the No. 1 or No. 2 answer is going to be something around growth. In my entrepreneurial circles, the questions are, “How much revenue do you have?” or “How many employees do you have?” Never, not once, have I asked the question, “Yeah, but how much money did you make?”