How to Sell Your Business to Non-Family Member

When you sell your business to a family member, you risk attracting the scrutiny of the IRS for the benefit of a simple deal. If you sell to a non-family member, however, you face the opposite issue. The IRS is less likely to be worried about the sale, but you must now pay attention to […]

How Can Defined Benefit Plans Work for You?

401(k), Roth IRA, pension plans – if your focus is saving for retirement, these are usually the solutions you’re told to reach for. Sometimes, this comes at the expense of what would be the best plan for your situation. Just like in business, if you’re doing what everyone else is doing, you’re probably not being […]

How to Sell Your Business to Family

When looking to sell your business, it’s possible you have potential buyers within your own family or would like to sell to family members for personal reasons. If so, there are some special considerations as opposed to selling to a different potential buyer. Some of these are beneficial, such as financing arrangements you’d be unlikely […]

How an Installment Sale Works During a Business Transfer

An installment sale is a transaction in which you sell your business to another party and the purchase price is spread over two or more years. To qualify for installment sales treatment, you (as the seller of the business) must receive at least one payment in a year after the year of the sale. You […]

Equalizing Estate Distributions as a Business Owner

When you’re a business owner with an estate, you have a tough decision ahead of you: how should you distribute it? Equal is usually considered fair. This is because when everyone gets an equal cut of something, it makes it hard for any of them to argue they were mistreated and to alleviate family discord. […]

How to Take Full Advantage of Employer-Sponsored Retirement Plans

If your employer offers a 401(k) or similar plan and you’re not on it, you should be. Plans like these are some of the most powerful ways to save for retirement, but knowing how they work and what strategies to use can make the difference between an anxiety-free retirement and one consumed with angst. Here’s […]

Six Keys to More Successful Investing

A successful investor maximizes gain and minimizes loss. While there’s no guarantee that any investment strategy will be successful and all investing involves risk, including the possible loss of principal, here are six basic principles that may help you invest successfully. 1.  Long-Term Compounding Helps Your Nest Egg Grow Put simply, compounding pays you earnings […]

Choosing a Beneficiary for Your IRA or 401(k)

Selecting beneficiaries for retirement benefits is different from choosing beneficiaries for other assets such as life insurance. With retirement benefits, you need to know the impact of income tax and estate tax laws to select the right beneficiaries. Although taxes shouldn’t be the sole determining factor in naming your beneficiaries, ignoring the impact of taxes […]

How to Allocate Your Assets

Investing can be risky, and asset allocation is a way to manage that risk. Instead of picking individual stocks, asset allocation focuses on broad categories, mixing them in the right proportion to match your financial goals, the amount of time you have to invest, and your risk tolerance. Because not all investments are alike, spreading […]

How to Teach Your Teen About Money

Teens love to think they’re independent. They also love to try and convince you of it, but despite what they say, your teen still needs your advice. With more money and more ways to spend it, teenagers can more easily find themselves in financial trouble. So before money burns a hole in your teen’s pocket, […]