Do You Value Your Business?
As a family business owner, you should know what your business is worth. It is important to consider how marketable your business is, when you should plan for succession and who the successor will be, clearly understand your options for retirement and when to incorporate an estate plan to transfer the […]
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Do You Value Your Business?
The Importance Of A Business Plan
Many small and midsize business owners think they have to write a 50-100 page business plan and as a result don’t have one. But writing a business plan doesn’t mean you have to write a book or spend hours in the library. A plan can be created in less […]
Serving Up Marketing For 2013
Marketing a restaurant can be a mystery to many restaurateurs. Unfortunately, many do not understand the importance or the process of marketing their restaurant. Whether you are a new restaurant or established for many years marketing your restaurant is key to your ongoing success. With many new restaurants opening competition […]
Family Business Pitfalls
Rivalry vs. Birth Order
In a family business, families with more than one child who work in the business can lead to it’s demise. According to some recent research birth order shows why and how children born into the same family are totally different. If conflict is to be avoided, birth order should […]
Small Business Marketing Trends 2013
2013 is going to be the year of content sharing, mobile marketing, and the significance of social media. As we begin the New Year it is more important than ever to know your target customers and how to effectively market to them online while continuing face-to- face networking and traditional […]
Running a restaurant can be all consuming and take up all of your free time. With cutbacks and layoffs It is even more challenging to juggle the demands of your business and find time to enjoy your life. If you are finding it difficult to have control over the hours you spend […]
Work Life Balance In The
Reinforcing the lines between the family and the business can be difficult and even more so during the holiday season. There is always the inclination to talk about work 24/7, yet there is always one family member that can’t let go and continues to bring up business issues long […]
Holiday Work Life Balance
Tips For Small Business
This is a time of year to enjoy the spirit of the season, yet holiday shopping, the pressure of the crowds, unfinished to do lists at work can be overwhelming causing anxiety levels to rise. We do not have to give into this stress as there are strategies we […]
Tax Planning For Restaurants
The nature of the restaurant business leads to unique income tax issues even though restaurants are subject to the same rules. If all of a restaurant’s tax obligations and strategies are understood, owners can take appropriate steps, comply with tax rules and reduce their income tax liabilities.
Federal taxes represent […]
Tax Planning For
Family Owned Businesses
Most closely held family owned businesses are S corporations (pays no tax) and that’s a good thing! Our recommendation is that a profitable family business should be operating as an S corp. but an LLC is also acceptable.
However a C corporation should be created for federal income tax purposes. The […]