Posts by Ted Jenkin
The Lost Art of the Handwritten Thank You Note
I’m really not sure why any of us get excited about going to get our mail anymore — we already know what’s in there. Here’s mine on average: three bills, five different types of nonsensical catalogs I didn’t order, and one incredibly bulky Val-Pak stuffed with coupons, sound familiar? Even the halfhearted effort of companies…
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Know Your Role as the Owner
As an entrepreneur starting a new business, you often have to wear the hat of cook, dishwasher, accountant, and general manager. However, one of the biggest mistakes a young owner will make is not quickly clarifying their role within the organization. Far too often, new entrepreneurs will try to control every aspect of a new…
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Incorrectly Pricing Your Product or Service
Most new business owners tend to undervalue what they charge for their work and services in order to compensate for not being as established as their competitors. As long as you have a top notch customer service experience and offer a product or service that’s similar or better than a competitor, you shouldn’t devalue yourself.…
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The Questions You Need to Ask Your CPA
All accounting firms are not created equal. Having a CPA look over all your work is important, and a great benefit of hiring an accounting or tax and business firm. But every CPA is different, and it’s important to get information before you jump in. Some accountants will be more conservative, some will be more…
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It’s SIMPLE… the Deadline is October 1st
After an owner makes heads or tails at the end of the year, they will usually determine whether or not money is left behind for setting up some sort of long term retirement plan within their business. Since there are so many people setting up individual LLCs or home based side businesses, you need to…
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The Biggest Mistake Retired Business Owners Make
I see this mistake over and over again with my clients. You work hard your whole life building a business that you eventually plan to sell. The whole time, there is a voice in your head that says to do one thing: save, save, save—because you never know what is just around the corner. Then,…
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Do You Need an LLC for Your Rental Property?
With interest rates continuing to hover around record low rates, Gen X’ers and Baby Boomers are swallowing up investment properties all around the United States. Even though recently an article came out from the N.Y. Times that home ownership is down to a record low of 62.9% (which is the lowest in fifty years), the…
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Is It Time for a “Back Door” Roth IRA?
There are many individuals and families who make a high income and believe they cannot do a Roth IRA. However, there is a part of your financial house you may not have realized existed called the “Back Door” Roth IRA. So, why do so many people miss this great opportunity? According to the Investment Company…
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3 Investment Lessons to Teach Your Children
While many families across American are struggling to figure out how to save for retirement and handle their monthly budgets, it becomes more and more important to teach our children important investing lessons for their financial future. 21% of Americans think the best way to save for retirement is winning the lottery. That’s no surprise…
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How the New Overtime Rules May Affect Your Business
The Department Of Labor is at it again, now changing the game for businesses as it pertains to overtime rules. Since, that is what we really need . . . some more rules. If it wasn’t challenging enough for small businesses dealing with making payroll and figuring out to maintain the costs of health insurance,…
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