Now, you’ve probably heard about 401(k) plans, right? Most business owners have them because, well, that’s just what businesses do. But what if I told you that the 401(k) is just the tip of the iceberg when it comes to maximizing your retirement contributions and…
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Planning for Retirement as a Business Owner
As a business owner, you’ve likely spent a great deal of time and energy cultivating and growing your business. It’s crucial to ensure that you’ve not overlooked the importance of planning for your retirement. Gen X and Gen Y business owners need to know that…
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Understanding How to Use Investment Losses to Your Benefit
Today, we’re diving into an essential technique: Investment Loss Planning, and how you can use it to your benefit Investment loss planning might sound complicated, but it’s a tool that can help you reduce your tax liability, and in turn, keep more of your hard-earned…
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Can I Do A Like Kind Exchange On My Property?
Welcome back to Building Towards Wealth where we help you align your money with your goals, make smart financial decisions and proactively manage the risks and taxes that come with business ownership and life. If you haven’t already, hit that subscribe button and turn…
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The Battle with Distraction
The Battle with Distraction Does this sound like you? You find yourself reaching into your pocket for your phone, only to lose track of what you were initially focused on? In an age dominated by technology, our devices have become sirens, luring us away from…
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Even The Best Need A Coach
As dawn broke over the rugged mountains, Michael Phelps, the most decorated Olympian of all time with 28 medals, was already at the swimming pool. His coach, Bob Bowman, was waiting for him, stopwatch in hand. While Phelps was naturally gifted, without Bowman, his path…
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What Type Of Entity Should I Set Up For My Business?
Setting up a new business is thrilling, but it 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,…
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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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