Tax/Accounting
Business Mentoring Series — 6 Last Minute Tax Tips with Ted Jenkin
Throughout the month of March on our business mentoring sessions, Fran talked with Ted Jenkin, co-CEO of oXYGen Financial, about some of the most important tax lessons for small business owners. From enabling your business to take every deduction you’re eligible for to having an organized plan in place for reducing your tax liability, Ted…
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Business Mentoring Series — Preparing A Tax Plan for Next Year
Even though 2014 is over, that doesn’t mean it’s too late to save money on your taxes. And the early months of the year are always a great time to put a good plan in place for the upcoming year to optimize your tax plan. Part of the reason you own your own business is…
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Business Mentoring Series — 3 Simple Tips to Reduce Your Tax Liability
If you visit a small business, one thing you probably won’t find lying around is excess cash. So it’s important that the business owner take all of the tax deductions they’re eligible for. Of course, there are the obvious ones, like deducting expenses on your office space and purchased equipment, but there are others, too…
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Business Mentoring Series — The Single Biggest Tax Mistake Business Owners Make with Ted Jenkin
March’s guest on the Business Mentoring Show is Ted Jenkin. Ted is the co-CEO of oXYGen Financial, a financial services business focused on giving financial advice to the X & Y Generations. Ted and his co-founder Kile Lewis started the company in 2008 and built a new model of the Private CFO, helping clients build…
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5 Super Bowl Party Tips We Learned from Bill Belichick and Deflategate
Did you know that the Super Bowl is the second largest single day of food consumption after Thanksgiving? It also ranks as the most widely watched television show of the entire year. While it’s not a national holiday, it sure acts like one. While that’s always true, the lead up to this year’s “Super Big…
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11 Commonly Overlooked Tax Deductions
This article was voted one of the best of 2014 by our readers, so be sure to mind your manners. As a small business, you need to take advantage of every tax deduction that applies and make sure that you don’t leave money on the table. Below are 11 commonly overlooked tax deductions and ways…
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When Can I Take Money From My IRA?
There is an ever-changing landscape of families and individuals who are working on making work-optional by the age of 50 or 55. This doesn’t mean that they won’t continue running some small business or choosing projects to work on that they really enjoy, but at this financial point in their lives they are wondering how…
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Succession Planning
Most business owners want their businesses to survive after their own retirement. Survival of the business allows for the payment of retirement income and gives a sense of accomplishment to the founder. It can also be a valuable source of future income and employment for family members. So why is it that only 30% of…
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Retirement Plans
You can set up and maintain the following small business retirement plans for yourself and your employees. SEP (Simplified Employee Pension) plans SIMPLE (Savings Incentive Match Plan for Employees) plans Qualified plans (including Keogh or H.R. 10 plans) SEP, SIMPLE, and qualified plans offer you and your employees a tax favored way to save for…
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Types of Business Entities
Selecting a business entity is one of the most important decisions you will make when starting your business. There are many types of business entities that you can choose from, each with their own strengths and weaknesses. Go over this general overview of the different kinds of business entities, in increasing complexity, and see which…
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