The success of transitioning away from a business depends greatly upon the mental perspective and preparation of an owner during the planning process. Business owners tend to fixate their thoughts only on running and growing their business. There is a tremendous value in seeing the ‘big picture’ of your exit and thinking about where you would like the company and yourself as former owner to be. The owner who sees the big picture will be more likely to execute a successful business transition. Stepping out of a business is an opportunity to move both the owner and the company into …Read More
Individual federal income taxes are calculated on a progressive schedule meaning higher tax rates apply as income rises above certain levels. For example, a single individual’s tax bracket …Read More
Funeral expenses are often a family’s fourth largest expense after paying for a house, college expenses, and a car. The average funeral costs between $6,000 and $8,000, but it’s not uncommon for funeral expenses to top $10,000. Planning a funeral may be an uncomfortable task, but, planning early will save you or your family members from having to make difficult decisions during a time of bereavement. Last-minute planning often leaves family members feeling pressured to spend more than they should in order to demonstrate their love for the departed.
When my mom was dying, I went with my father to …Read More
Six months ago I wrote a piece regarding New Year’s resolutions. I’d like to follow up to ask whether or not readers have followed through and are making good on the promises they made at the beginning of the year. If you find yourself as one of the individuals that has put together a plan of action and you’re moving forward – good for you! If not, what happened?
Understandably, many individuals renege on their promises made at the beginning of the year. Many factors can be the culprit. From not having enough time, not making goals a priority or …Read More