Business · April 08, 2024
Starting or expanding a small business brings critical financial decisions, notably choosing between a business line of credit and a bank loan. Each option serves different needs: lines of credit offer flexibility and repeated access to funds, ideal for managing cash flow or unexpected expenses, but often come with higher interest rates. On the other hand, bank loans provide a lump sum with lower interest rates, suitable for significant, one-time investments but lack borrowing flexibility.
Business · March 22, 2024
Selecting your business successor is more than a choice—it's a future-defining moment. Ensure your legacy flourishes by steering clear of common yet critical mistakes in the process. It's not just about replicating your leadership style but finding someone with the right vision, adaptability, and ability to connect with your team. Dive deeper into how to make this pivotal decision without compromising your business's future. As your trusted LIFTed Business Advisor, let me guide you through a sea
Business · March 15, 2024
As tax season rolls in, it’s crucial for small business owners to navigate the complexities of tax filing with precision. This blog highlights three common tax mistakes to avoid: miscalculating payroll taxes, misclassifying employees as contractors, and improperly deducting personal expenses as business expenses. With detailed examples and solutions, including the importance of clear payment policies and maintaining separate financial accounts, it provides actionable advice to ensure compli
Business · February 12, 2024
Building a business is a journey filled with passion and dedication, mirroring the love you have for your family. But have you pondered the future of your enterprise and the well-being of your loved ones in your absence? Our latest blog delves into the essence of succession planning, a crucial step not just for the longevity of your business but as a profound gesture of care for your family. It outlines the necessity of a clear strategy to ensure smooth transitions, safeguarding your legacy and
Business · February 05, 2024
Incorporating your children into your family business isn't just a smart financial move; it's a valuable life lesson. This strategy not only fosters work ethic and financial literacy in your kids but also offers significant tax savings. With the right setup, their earnings up to $13,850 are tax-free, fostering early savings while reducing your tax bill. It's a win-win: your business gains dedicated helpers, and your family enjoys more quality time together.
Business · January 29, 2024
Boosting your small business goes beyond just products or services; it's about crafting a brand that resonates with authenticity and professionalism. This blog article explores the pivotal role of cohesive branding and robust business structures in attracting serious clients, emphasizing the importance of transparency and the human element behind your venture to foster trust and connection, ensuring a loyal client base through genuine engagement and open communication.
Business · January 22, 2024
Delving into the world of entrepreneurship requires more than just business savvy - it demands a strong grasp of emotional intelligence. Today, let's unveil how honing this skill can revolutionize your business approach, from enhancing leadership qualities to fostering a collaborative team environment. Learn about the transformative impact of emotional intelligence on decision-making, negotiations, and building a thriving workplace culture. Discover how this often-overlooked skill is the key to
Business · January 12, 2024
An employee handbook does more than outline rules—it builds a positive, clear workplace culture and helps avoid legal issues. Our latest blog explores how a well-crafted handbook can subtly shape team dynamics and provide peace of mind for both you and your staff. Dive into the surprising benefits and practical tips for creating one that reflects your business's unique values.
Business · January 05, 2024
Entering into a business partnership? Without the right setup, it could become a nightmare. Imagine disputes, financial instability, and legal battles from a vague partnership agreement. Issues in decision-making, capital contributions, and dispute resolution can derail your venture. Don't let this be your story! Learn the six essential clauses for a clear partnership agreement and shield your business from crises.
Business · December 29, 2023
As the new year approaches, it's time to elevate your business with a LIFT Business Breakthrough Session. This comprehensive review delves into Legal, Insurance, Financial, and Tax aspects, ensuring your business is aligned with your goals. We'll fortify your legal structures, optimize insurance and financial strategies, and streamline tax processes. It's not just a review; it's a strategic move to set your business up for a successful and prosperous year ahead.