Owner Goal Employees (Non-Owner) Plan Type Requirements Advantages Older Than Employees Maximize Contributions, Deductions & Benefits 0-4 Fully Insured Defined Benefit Plan, also known as a 412(e)(3) Plan Steady Profits: Business generates enough income to support ongoing plan contributions,. Plan funding required each year. Highest Possible Contribution, Deduction & Benefits. All Plan Assets HeldContinue reading “Type of Qualified Retirement Plan for high net income pros and business owners”
Tag Archives: business owners
Issues With Defined Contribution Plans That Have Less Than $250,000 in Plan Assets
Small plans are plans that have less than $250,000 in assets and have been recently implemented. The Internal Revenue Service (IRS) issued a report in late 2013 after an examination of approximately fifty Form 5500 returns of defined contribution plans with: assets valued between $100,000 and $250,000; a plan effective date of January 1, 1997Continue reading “Issues With Defined Contribution Plans That Have Less Than $250,000 in Plan Assets”
Asset Protection Introduction For Small Business Owners
This article is intended for every small business owner/entrepreneur who left behind Corporate America for the opportunity and dream of starting their own business. This entrepreneurial spirit is what made this country what it is today. However, this dream could be shattered very quickly without taking into consideration adequate asset protection plan. The notes belowContinue reading “Asset Protection Introduction For Small Business Owners”
How to avoid capital gains tax
First, you can use a tax-protected retirement account to avoid paying capital gains taxes on the proceeds from your stock sales. As long as you keep the proceeds in the account and resist the urge to make premature withdrawals, you can grow your retirement savings on a tax-free basis for an indefinite period of time.
However, your retirement account may be subject to certain contribution limits. If you’re under the age of 50, you can contribute just $5,000 per year into your tax-protected IRA account. If you’re over the age of 50, you may be able to contribute as much as $6,000 into your account. Before you make any contributions, be sure to check with a licensed tax professional.
Business for sale, linking others
I am selling a small ski rack business. The ski racks are for storing skis in the home. The business comes with a stock of inventory and detailed manufacturing plans and contacts. The asking pricing is $35,000. I am also looking to sell an electronic version of a Sched C. to a small business consultant. TheContinue reading “Business for sale, linking others”
Overhead expense, business partners and marketing are major concerns by business owners
If you understand that you need financial help with regards to your finances in the area of overhead expense and business partners, contact Connie Dello Buono, 408-854-1883 motherhealth@gmail.com I help small- and medium-sized business owners with financial planning for their business and their families. Daily lunch webinars on the use of The Living Balance SheetContinue reading “Overhead expense, business partners and marketing are major concerns by business owners”
Tips for 50yr olds whose career got interrupted and wanted to earn $1M
What are your tips on how mid-career professionals (around age 50) who have had a career interruption (e.g., a layoff, time taken off to raise children,etc) can get to $1 million in wealth. Investing at 9% return can help but a business with no capital or experience, only courage and training in sales can help 50 yr oldContinue reading “Tips for 50yr olds whose career got interrupted and wanted to earn $1M”
Strategies of Top Sales Men
A recession is when your neighbor loses his job and a depression is when you lose your job
The difference between the two terms is not very well understood for one simple reason: There is not a universally agreed upon definition. If you ask 100 different economists to define the terms recession and depression, you would get at least 100 different answers. I will try to summarize both terms and explain the differencesContinue reading “A recession is when your neighbor loses his job and a depression is when you lose your job”
You receive a lifetime of $90k-$250k per yr tax free retirement income if you start saving at 28yrs of age or early
Save early in auto pay mode to our IUL savings strategy with no market risks/tax-free, to have the maximum compounding of your tax free retirement. Call Connie Dello Buono CA Life Lic 0G60621 at 408-854-1883 motherhealth@gmail.com for custom savings strategy based on your needs, asset and retirement strategy. age female face amount save upContinue reading “You receive a lifetime of $90k-$250k per yr tax free retirement income if you start saving at 28yrs of age or early”
Expenses you cannot deduct as a business owner per Pub 535
bribes and kickbacks charitable and political contributions demolition expenses or losses dues to business, social, athletic, luncheon, sporting, airline and hotel clubs lobbying expenses penalties and fines you pay to a government agency personal, living and family expenses repairs that add to the value of your property or significantly increases its life
Executive Social Mixer in San Jose
You are invited to mix and mingle with executives and successful Silicon Valley executives at http://www.sanjoseclub.com today and next Wednesday at 5:30pm. Call Connie 408-854-1883 or email motherhealth@gmail.com When business owners were asked how they started their business, most of them answered thru networking and by word of mouth referrals. Some small business owners complainedContinue reading “Executive Social Mixer in San Jose”
Keeping the momentum in your business
Business owners have to motivate themselves daily. Wake up at 8am and stop work at 8pm. They know that success depends on them. They thrive on challenges and opportunities. Creating each moment as if it will give them another opportunity or sales. Building relationships to last a lifetime and collaborations to each person they meet.Continue reading “Keeping the momentum in your business”
To retire or not to retire at 62 or 70 yrs old
Below are feedback from many retirement planners. Taxes An IRA is 100 percent taxable but only up to 85 percent of Social Security is taxable,” she adds. If you take Social Security at 70, “you’ll have more money available for your retirement years.” Reduced Benefit Although you are eligible to begin taking Social Security atContinue reading “To retire or not to retire at 62 or 70 yrs old”