In the ever-evolving landscape of risk management, 831(b) captives have emerged as a captivating strategy for businesses seeking to optimize their financial standing. But what exactly are they, and how can they potentially benefit business owners? Imagine this: Instead of relying solely on traditional insurance providers, your business becomes its own mini insurance company. This,...
Author: Kenner French
S Corp: Friend or Foe? Weighing Tax Breaks and Challenges
For many small business owners, navigating the complexities of taxes can be a daunting task. Choosing the right business structure is crucial, and S corporations have emerged as an attractive option due to their potential tax advantages. This article delves deeper into the world of S corporations, exploring their benefits, drawbacks, and how they compare...
Secure Your Golden Years: Exploring Defined Benefit Plans for Solopreneurs
Building a successful solo business is exciting, but don’t let planning for retirement fall by the wayside. Defined benefit plans, traditionally associated with large corporations, can be a powerful tool for solopreneurs to achieve financial security in their later years. What Exactly is a Defined Benefit Plan? Unlike traditional IRAs or 401(k)s where the retirement...