Backdoor Roth IRAs have emerged as a strategic tool for high-income earners looking to maximize their retirement savings. Roth IRAs can be essential to retirement preparation, but only up to certain income levels ($161,000 in 2024). You become ineligible once you exceed the Modified Adjusted Gross Income limit. Once you’ve hit the income ceiling for […] Read more “What is the Back Door Roth?”
Category: Small Business
Starting a business is an exhilarating journey, filled with dreams of success and innovation. However, navigating the financial landscape can be daunting. Choosing the right accounting services is crucial for ensuring the financial health and success of your startup long-term. This guide will help you understand how to evaluate accounting services to best meet your […] Read more “How to Evaluate Accounting Services for Startups”
On April 23, 2024, the Federal Trade Commission, or FTC, implemented a groundbreaking new ruling that sent ripples throughout the business world. This new rule bans almost all non-competes nationwide in an attempt to: With this rule now in place, it is important for business owners to understand what it means for them and how […] Read more “Say Goodbye to Non-Competes Between Employees and Employers”
For every business, financial stability plays a critical role in determining your long-term success. Without a well-structured budget and diligent tracking procedures in place, even the most promising of business ventures can fall apart before ever coming close to reaching their full potential. In this article, we will lay the groundwork for how your business […] Read more “How to Track and Maintain a Business Budget Throughout the Year”
In business, due diligence is a critical phase when each of a company’s documents and records are scrutinized. This process plays an important part in mergers, acquisitions, and fundraising when determining the worthiness and risk of a deal. However, this phase can be daunting and is often marked by various challenges for companies, particularly when […] Read more “Why Companies Need to Have a Data Room”
Companies that invest in research and development (R&D) not only stay competitive, but drive progress and growth in their industries. When considering your R&D strategy, planning ahead can ensure you’re in an excellent position for tax season. It’s estimated that less than 3 out of 10 qualifying businesses claim the R&D tax credit. While taking […] Read more “Research and Development Credit”
In the realm of business finance, each and every transaction is significant, not just for the immediate financial health of the company, but also for its long-term stability and compliance with laws and regulations. As a business owner, you are responsible for maintaining financial integrity by meticulously tracking receipts and bills for every transaction that […] Read more “The Importance of Matching Receipts and Bills for Every Transaction”
A budget is an essential financial tool for your business, but creating an actionable budget is often difficult. Many business owners create a budget at the start of the year–only to stray from it within a few months. This article will go over some tips and tricks for creating a business budget that you can […] Read more “How to Create Your Budget So You’ll Actually Use It”
Launching a startup is an exhilarating and often difficult journey. Successfully navigating the complexities and curveballs that are thrown your way is what will set you apart on your path to creating and running your business. One major aspect of running your startup is successfully managing your cap table. A cap table, short for capitalization […] Read more “Cap Tables for Startups”
As 2023 draws to a close, we find ourselves at that time of year again – the time to complete your year-end review. Your year-end review is more than just a reflection on the past year; if done correctly, it will also serve as a roadmap for your business to follow in the year ahead. […] Read more “What to Look for During a 2023 Year-End Review”
As we draw closer to the end of the year, it’s the opportune time to discuss the importance of tax planning and how forward-thinking can pay off big when tax time rolls around. This article will walk you through tax planning, whether you are an individual filing taxes or a business, but also how to […] Read more “Tax Planning and the Benefits of Forward Thinking”
I’ve always had an interest in investments. Whether it’s in the form of stocks, a 401k, certificates of deposit, or any other investment vehicle, I firmly believe the key to preparing for your future is investing early. With that being said, I feel there is a significant lack of education on the topic. So, I’ve […] Read more “Invest Early to Jumpstart Your Financial Journey”