Setting up a new business is thrilling but comes with a multitude of decisions. One crucial decision is determining what type of business structure or ‘entity’ is best for your business. Your choice will impact numerous aspects of your business, including taxes, liability, and…
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Archives for July 2023
Financial Planning for Generation X
Generation X, we are often recognized for our refusal to fit into predefined molds and were shaped by a unique historical period. As latchkey kids, we were often reared in dual-income or single-parent households, cultivating independence and flexibility. As witnesses to the 1970s inflation, oil…
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Should I Do A Roth Conversion?
Today we’re going to talk about an important decision many retirement savers grapple with – Should you do a Roth conversion? But before we dive into it, let’s break down what a Roth conversion is. A Roth conversion refers to the process of moving your…
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Maximizing Your Retirement Savings as a Business Owner
Maximizing Your Retirement Savings as a Business Owner When it comes to planning for retirement, business owners are in a unique position. Unlike regular employees who might have access to company-sponsored retirement plans, you, as an entrepreneur, may need to take extra steps to help…
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How Much Tax Do I Owe For Inheriting Money Or Receiving Gifts?
Today we’re going to tackle a question that’s been asked by many: ‘How much tax do I owe for inheriting money or receiving gifts?’ It’s a great question, and a bit complicated, as it involves various factors and can vary depending on the laws…
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