Topics
Topic:
Career
-
Understanding Form 5500: A Guide for Business Owners
When it comes to managing your company’s retirement plan, one of the most important responsibilities is filing Form 5500. This form is crucial for maintaining compliance and protecting both your business and your employees. Let’s break down what Form 5500 is, why it matters, and share some practical advice on what to do if you’ve…
-
RMD Essentials: Maximizing Your Retirement Plan
As a business owner, you’re no stranger to making crucial decisions every day. But when it comes to your personal finances, particularly your company retirement plan, you could be leaving money on the table if you’re not optimizing your RMD strategy. Running a business can feel like you have to be a jack of all…
-
Investing in Your Legacy: The Importance of Estate Planning
Estate planning—it’s often a topic people shy away from or put off for another day. Yet, its importance cannot be overstated. Regardless of age or financial status, crafting a solid estate plan is essential for ensuring your wishes are carried out and your loved ones are provided for in the future. Protecting your assets Without…
-
Beyond Billable Hours: Financial Considerations for Legal Professionals
As a partner or shareholder of a law firm, your financial structure might be less predictable or straightforward compared to traditional salaried employees. Between irregular cash flows from legal settlements, dividends, and distinct firm-related structures, there are complex tax and cash flow considerations that should be addressed in your financial plan. 1. Unpredictable Cash Flows…
-
Navigating the Waters of Irregular Cash Flow: A Guide for Attorneys
Managing finances can be complex for anyone, but many attorneys face the unique challenge of irregular cash flow throughout the year. Unlike salaried employees who can depend on a steady income, attorneys may experience significant income fluctuations due to the varying nature of legal cases, distribution payments, and other financial structures in place. While this…