When your company goes public, it can be a life-changing event. An initial public offering (IPO) often unlocks substantial wealth for employees who have accumulated equity compensation in the form of stock options or restricted stock units (RSUs). Suddenly, what began as a promise of ownership in a Read more…
Could You Qualify for a 100% Tax Exclusion When Selling Your Business? Understanding Section 1202
Selling a business is a major milestone—and for some entrepreneurs, it can also come with a unique tax-saving opportunity. If you’re planning to sell all or part of a company structured as a C corporation, Section 1202 of the Internal Revenue Code may allow you to exclude up to 100% of the capital Read more…
Why Am I Getting Refunds From My 401(k)?
Normally, the word “refund” sparks visions of putting a hefty tax return toward a big-ticket item you’ve had your eye on or getting a little extra cash to pad your day-to-day budget. Read more…
Learn How Business Owners Can Save $75,000 a Year Into Their 401(k)
For many people, the question “How much can I save into my 401(k)?” has a simple answer. If you are under age 50 in 2024 you can save $23,000 into your 401(k). If you are over 50 you can save $30,500. Read more…
The Information You Need For Every Type of Business to Develop a Successful Succession Plan
As a business owner, you may have spent years growing, cultivating and shaping your company to match your strategic vision. It’s your baby, your lifeblood. While moving on or selling it might not be on your mind currently, but considering an exit strategy and succession plan now will help you to be Read more…
Is My Business Right For a Cash Balance Plan?
I wrote a piece about what a Cash Balance Plan is recently, which you can find here. The natural question after reading that is “Is my business a good candidate to set up a Cash Balance Plan?” Read more…
3 Financial Considerations for Setting Up Your Business
If you have a groundbreaking entrepreneurial idea floating around your head, then you may be wondering what to consider before starting a business. One simple mentality will help — the more planning you do upfront, the better off your new business venture will be. It's just like taking a vacation. Read more…
5 Common Scenarios That Call for Deeper Financial Expertise
Every family is unique, and everyone has their own questions, priorities, and vision for the future. However, there are certain life events or financial situations that are especially complex and call for deeper expertise from a financial advisor. Read more…
My 401(k) Failed the Top-Heavy Test. Now What?
What is the top-heavy test? 401(k) plans must be tested annually to determine if they are top-heavy. The top-heavy test compares the account balances of “key employees” to those of “non-key employees.” If the sum of all key employee balances exceeds 60% of the total plan balance the plan is Read more…
