The Financial Management Blog for Surprise, Arizona

Is Your Field Prone to Lawsuits? How to Protect Assets

Outside Law Court

 

Do you work in a field that is prone to getting sued? Some professionals, often including doctors and lawyers, face a higher risk of lawsuits than others. If you find yourself in this category, one key step you must take is to protect your assets from any potential seizure from a court ruling.

How can you do this? There are a variety of means. Here are four of the most common to consider together with your accountant and attorney.

S Corporation Officers — Do You Pay Yourself a Reasonable Salary?


 

Salary for S Corporation Officers | Monheit Frisch Group PLC

Are you an owner (part or full) of an S Corporation? Then you need to know about how to compensate yourself properly. For many small business owners, the amounts and types of compensation are often determined by whether or not the business is making a profit. But the IRS does actually provide rules about officer compensation, and when you follow these rules, you stay out of trouble. 

Behind the Scenes – How a Paraplanner Affects You

Behind the Scenes - How a Paraplanner Affects You

Do you plan to begin working with a financial planner? This step is surely one that will help put your new year on a good path financially. And as you consult with your new financial planner, you may be directed to do some tasks alongside a paraplanner. What is a paraplanner, and how can they help you reach your goals? Here is a brief guide to this unique part of the financial planning world.

Tax Tips for Owners of Small Online Retail Businesses

Tax Tips for Owners of Small Online Retail Businesses

Whether you auction specialized antiques online, ship mugs from China, or sell handmade artwork and crafts, you probably didn’t get into it for the taxes. Maybe you started the business to do something you love. Maybe it even developed out of a hobby. In either case, taxes may be one of your least favorite parts of the business, but you still have to do them.

Reduce These Four Risks by Outsourcing Your Back Office

 

When businesses outsource bookkeeping and accounting, they reduce their risk and gain better insight.

You probably have dreams that you want to realize if you own and run your company. The problem is that you need a recipe with the right ingredients to achieve your goals. You’ve got the foresight, ingenuity, and tenacity, but have you got time, energy, and peace of mind? Smart professionals know that they need to alleviate pressure in order to expand. If their dreams are going to last, they also need to minimize risk.

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