Blog Posts

  • Four end-of-year tax planning strategies

    Four End-of-Year Tax Planning Strategies

    October 22, 2012
    Even though it’s not yet November, it is time to start thinking about year-end tax planning strategies for 2012. Spending a little time planning today may allow you save on taxes come April. Now may be the best time to talk to your accountant about taxes since they are not ...
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  • Minneapolis Business Owners

    Four Steps to Selling Your Business to Fund Your Retirement

    October 22, 2012
    Entrepreneurs often save little money along the path to retirement because they believe they can build more wealth by reinvesting in their business. Yet diversifying assets and taking money out of the business along the way can give the owner, and his or her spouse, more peace of mind. If you ...
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  • Diversifying Business Wealth: Pensions for High-Income Small Business Owners

    October 15, 2012
    Last week, I attended a speech by Dr. Christopher Waller, Senior Vice President and Director of Research at the Federal Reserve Bank of St. Louis. He pointed out that tax revenues over the last 40 years have averaged approximately 18% of GDP per year in the United States, but currently ...
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  • Diversifying Business Wealth: S-Corps, LLCs, Taxes and Marriage

    October 8, 2012
    Entrepreneurs are faced with a dilemma that many others are not. They need to be good at both building a company and building their personal wealth. These twin concerns often intersect at tax time, when business owners sit down with their accountant to discuss the distributions that should be taken ...
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  • Diversifying Business Wealth: Setting Up Benefits

    October 1, 2012
    I was talking with an accountant last week about some of the ideas that entrepreneurs seem to miss when they are running their business. Business owners often focus on using the business to pay for their car or cell phone, but many wait to pull out hard dollars until they ...
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  • The Individual Investor’s Plight: Trust Your Equipment

    September 25, 2012
    Last week, I had to chaperone my son’s sixth-grade class on a trip to an environmental learning center. One of the activities was climbing 30 feet in the air and navigating a ropes course amongst the treetops. Finishing with a zip line was exhilarating. But before we even went up, ...
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  • Fidelity’s Age-Based Savings Guidelines May Be Too Light

    September 17, 2012
    Last week, Fidelity released a report that said the average person should save at least eight times their ending income (assuming a retirement age of 67) in order to retire. To reach that goal, Fidelity suggests that you should have one year’s salary saved by age 35, three times your ...
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