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Retirement to Fund Your Business

Should You Tap Into Retirement to Fund Your Business? An Analysis of ROBS

By Matt Patrick / April 19, 2024 / Comments Off on Should You Tap Into Retirement to Fund Your Business? An Analysis of ROBS

Explore the pros and cons of using ROBS (Rollover for Business Startups) to fund your business. Is it the right path for your entrepreneurial journey?

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9 Alternatives to Using ROBS to Fund Your Business  

By Matt Patrick / April 19, 2024 / Comments Off on 9 Alternatives to Using ROBS to Fund Your Business  

Explore nine effective alternatives to using ROBS for funding your business. From traditional loans to innovative crowdfunding, find out the best options to secure capital without risking your retirement savings. Get the insights you need to make an informed decision on business financing today.

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Income Statement as a Small Business

How to Understand Your Income Statement as a Small Business

By Matt Patrick / March 15, 2024 / Comments Off on How to Understand Your Income Statement as a Small Business

Simplify your income statement as a small business by differentiating between profit and cash flow so you can make informed financial decisions for long-term success.

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Labor Costs for Small Business

How to Break Down Labor Costs for Small Business

By Mike Shaeffer / March 15, 2024 / Comments Off on How to Break Down Labor Costs for Small Business

Learn straightforward ways to understand and manage labor costs for small businesses, guiding you toward smarter financial decisions with expert insights.

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Tax Planning Tips

Year-End Tax Planning Tips for Business Owners 

By Matt Patrick / December 21, 2023 / Comments Off on Year-End Tax Planning Tips for Business Owners 

Discover essential year-end tax planning tips for business owners to minimize your 2023 tax bill and prepare for a prosperous 2024. Learn to review finances, optimize deductions, and streamline processes. From maximizing retirement contributions to charitable donations, set yourself up for financial success.

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Successful Accounting as a Restaurant  

Best Practices for Successful Accounting as a Restaurant  

By Matt Patrick / November 28, 2023 / Comments Off on Best Practices for Successful Accounting as a Restaurant  

While successful accounting fundamentals remain unchanged, the landscape’s complexity requires attention to various fronts like food costs, labor expenses, and more. The ultimate goal remains constant—making money.

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What is the Best Entity Structuring for Multi-Unit Restaurants? 

By Matt Patrick / October 13, 2023 / Comments Off on What is the Best Entity Structuring for Multi-Unit Restaurants? 

“How should I set up my multi-location restaurant group?” We encounter this question frequently. Or sometimes, it’s the classic, “My brother-in-law absolutely insists I should become an S Corporation.”  Now, before we delve into the intricacies of business structures, let’s consider how much wisdom your dear brother-in-law could really have… he did get married to…

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SIMPLE IRA vs. 401k – Which is better for a small business owner? 

By Matt Patrick / September 22, 2023 / Comments Off on SIMPLE IRA vs. 401k – Which is better for a small business owner? 

When I started my business, I wasn’t concerned about my retirement plan. I was really only thinking about how I could pay my employees, cover my home mortgage payment, and have food on the table for my family. You know, the basic necessities of life. After a couple of years, was able to hire more…

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Home Office and Partner Expenses for Business Owners 

By Sandy Ledbetter / September 1, 2023 / Comments Off on Home Office and Partner Expenses for Business Owners 

The 21st-century workspace has dramatically shifted, and with more businesses than ever before operating from the confines of their homes, understanding the tax implications and benefits of home offices is paramount. For business owners and partners, comprehending these benefits can mean significant financial advantages. Here’s a breakdown of what every business owner should know about…

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How to pay yourself as a business owner

By Matt Patrick / May 18, 2023 / Comments Off on How to pay yourself as a business owner

Understanding how to pay yourself as a business owner can be perplexing. When I started my business in 2003, I faced the same dilemma. Having worked in public accounting, I was accustomed to dealing with large businesses but not being the owner myself. Transitioning from receiving a paycheck to being the one writing the checks…

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