Before you add bonds to your portfolio, you should understand how they work and what variations exist among them. Just as importantly, you need to identify the risks that come with owning bonds and how you can protect yourself from them. Bond Basics Bonds are essentially IOUs, issued by federal, state, and municipal governments as […]
An HSA Can Also Be Used to Save for Retirement
Health savings accounts (HSAs) were created as a savings vehicle to help people pay out-of-pocket medical expenses. If qualified, you can establish an HSA in much the same way you establish a traditional savings account or an individual retirement account. You can open one with a lump-sum payment or through regular contributions, usually through paycheck […]
Weighing Your Options: Promoting vs Hiring Externally
It’s a quite common dilemma to figure out if you need to hire externally or promote from within to see improvement with your business. There are benefits to both. We will now go over the pros and cons to each side. Hiring Externally Pros Cons Promoting from Within Pros Cons Overall, consider your employees and […]
Bookkeeping & Accounting Tips for Small Business Owners
Running a small business is a demanding task, requiring you to wear many hats, from managing operations to marketing and customer service. Among these responsibilities, bookkeeping and accounting are crucial for the financial health and sustainability of your business. While it may seem daunting, effective financial management doesn’t have to be overly complicated. Here are […]
Retirement Security Is Not an Impossible Dream
The road to retirement security can be filled with speed bumps and potholes along the way. Some plan participants may feel that they really don’t have to worry too much about retirement because it’s so far in the future. Others reduce or eliminate their retirement plan contributions because they have so many other pressing financial […]
The Top 5 Ways Businesses Get in Trouble With the IRS
As a small business owner, you probably know that willfully avoiding paying taxes will lead to severe problems with the IRS; however, IRS problems aren’t always a result of a business owner’s intentional actions. These are five ways business owners can get into trouble with the IRS that they might overlook or not realize. 1. […]