Our Latest Blog Posts

• When Should You put Your Spouse on Payroll?
  

  For those that are married, this is a very important question and something we often analyze for clients in our office. In fact, many clients rush to put their spouse on payroll, but for the wrong reasons and it could actually be a costly mistake. Essentially, there are 3 situations when business owners may put their spouse on payroll, rather than just share draws or distributions (typically the best move). Two of these three reasons make sense, and the other is a deceptive ruse I need to warn you about. The first reason to put your spouse on payroll is for the purpose maximizing your spouse’s 401k contribution. Even if your spouse has a 401k through another job, or simply wants to put more into long-term savings than what an IRA may allow, the 401k plan could be the perfect fit.  I actually think this is a great way to ... Read more
• Closing an Estate: What You Need to Know when a Loved One Passes
  

  It’s hard enough to deal with the emotional grief when a loved one passes, however the “paperwork” and “red tape” can make a tough situation even worse. But frankly, it doesn’t stop there either does it? If you’re your lucky, your loved one left a detailed Will or Trust, specific instructions, lists, and guidance to help you divide up their assets. If not, the family drama begins and then it can take a lot of medication and therapy to bounce back months or even years later after the experience is over – Seriously. The reality is, the handling of someone’s estate can be extremely difficult and emotionally draining, not to mention time consuming. Here are some important steps, considerations and issues to address when helping administer the estate of a loved one. Gather all the documents. This is definitely one of the most important steps and first on my list. ... Read more