Your manager breaks her leg playing softball and will be out for a month. Or your receptionist’s husband lands his dream job, but it’s out of state so they’ll be moving. When you own a small business, learning to expect the unexpected comes with the territory. Yet, you don’t have to stand idly by and […]
Best Business Practices
Avoiding Capital Gains Taxes with a 1031 Exchange
Savvy investors can build wealth by deferring capital gains taxes via a 1031 exchange. This article highlights what that is, how it works, and how it can help you as a real estate investor. For the in-depth information required to execute a 1031 exchange, a qualified intermediary is necessary. What is a 1031 Exchange? A […]
Fix Your Bottom Line by Raising Your Prices
You can’t keep prices the same indefinitely, but raising them is always a gamble. Consumers can — and do — compare prices anywhere, anytime, on everything. If your bottom line needs a boost, raising prices can definitely help — as long as you map out a strategy and avoid some common pitfalls. Promote, Promote, Promote […]
As a Corporation You Need to Follow the Rules
When you started your business, you may have formed a corporation to protect your personal assets from lawsuits against your company. However, you must also operate your business like a corporation — or risk losing the liability protection you expect to have. No matter how long you’ve been in business, always treat your corporation as […]
Map Out Your Journey with a Business Plan
Much like a map or a GPS provides clear directions to your destination, a business plan can help define your goals and spell out the steps your business must take to achieve them. It can also establish a set of benchmarks to measure your progress. A business plan is critically important when it comes to […]