What Issues Should I Consider As A Business Owner

06 Oct, '18
Meghan McBride Merged

Tax and Legal implications related to selling a business

31 Jan, '20
William Nunn Merged

Considerations when faced with an employment arrangement that allows you to choose between W2 employee or 1099 contractor. How to make that decision.

27 Feb, '20
Jordan Slingo Merged

I would love to see this also include topics like getting a professional business valuation/appraisal, estimating exit costs, evaluating pros/cons of different types of buyers, financing structures, estate planning implications, ability to offset gains with accelerated giving (DAF, 529 lumping).

21 Apr, '20
shannon moenkhaus Merged

executives retire from their positions and become consultants. As do business owners when they sell their businesses. What are deductions we proactively consider now that we are 1099...

12 Jun, '20
Terra Thurgood Merged

Happy to see this is already under consideration! Looking forward to seeing the final product.

20 Jul, '20
Jacquelin Merged

Tips and suggestions for helping a business owner qualify for a mortgage

22 Jul, '20
Knud Gotterup Merged

Include tax reduction strategies, trusts, funding 401(k)/SEP-IRA/Cash Balance plan,

19 Sep, '20
JMStafford Merged

Business owners ask OFTEN about when they should become an LLC taxed as an S-Corp --- there are some very general and basic fundamentals around this question. It would be great to have this as both a flowchart and checklist! I don't know if this is reasonable or possible to standardize, but I feel like it is as we are already attempting to do so. Since we are new to fpPathfinder, I thought I would place the suggestion!

21 Sep, '20
Christina Gamache Merged

What are some possible ways to reduce capital gains for business owners and high net worth families? Charitable Remainder Trust vs Deferred Sales Trust vs Others. How can we explain the different options to clients and when to get an estate planning attorney involved?

22 Sep, '20
Jacquelin Merged

Flowchart/list of items to consider in process of selling a business. Things to do in preparation 1 year out, 6 months out, etc.

05 Oct, '20
Craig G Merged

I work exclusively with medical professionals and this is the most commonly asked question. Many want to work as a PRN (per diem), especially if they have access to workplace benefits via spouse or significant other. Taxes to pay, deductions to take, retirement plans options, insurances required. I think 2 resources would be helpful. 1 as a decision tree to choose w2 employment vs Independent Contractor. 2. a checklist of all financial planning decisions a 1099 has to make.

07 Oct, '20
Christina Gamache Merged

Include defined benefit/contribution plans

21 Oct, '20
Judd Merged

like this: https://www.schgroup.com/wp-content/uploads/2018/07/Tax-Small-Business-Checklist.pdf

21 Dec, '20
Steve Conkin Merged

Considerations of Buy/Sell agreements between business partners.

07 Jan, '21
Jonathan Heagle Merged

I was just going to suggest this!

07 May, '21
Mike Admin Merged

"Becoming An S-Corp LLC" (suggested by JMStafford on 2020-09-19), including upvotes (9) and comments (0), was merged into this suggestion.

07 May, '21
Mike Admin

"Closeley Held Business/Professional Practice Owner" (suggested by Windward on 2019-07-16), including upvotes (2) and comments (0), was merged into this suggestion.

07 May, '21
Mike Admin

"Qualified Small Business Stock Checklist" (suggested by Judd on 2020-10-21), including upvotes (1) and comments (0), was merged into this suggestion.

07 May, '21
Mike Admin

"Qualifying for a Mortgage as a Business Owner" (suggested by Jacquelin on 2020-07-20), including upvotes (1) and comments (0), was merged into this suggestion.

07 May, '21
Mike Admin

"Am I eligible for home office deduction, especially in COVID era" (suggested by Angie LaRosee on 2021-03-17), including upvotes (1) and comments (0), was merged into this suggestion.

07 May, '21
Mike Admin

"W2 vs 1099 pay" (suggested by William Nunn on 2020-01-31), including upvotes (4) and comments (1), was merged into this suggestion.

07 May, '21
Mike Admin

"Becoming a 1099 earner? Deductions you will want to proactively track" (suggested by shannon moenkhaus on 2020-04-21), including upvotes (3) and comments (0), was merged into this suggestion.

07 May, '21
Mike Admin Merged

"Buy/Sell Agreements" (suggested by Steve Conkin on 2020-12-21), including upvotes (4) and comments (0), was merged into this suggestion.

07 May, '21
Mike Admin Merged

"Sale of Business" (suggested by Meghan McBride on 2018-10-06), including upvotes (36) and comments (4), was merged into this suggestion.

07 May, '21
Mike Admin Merged

"Ways to reduce capital gains taxes on a business or special asset sale" (suggested by Christina Gamache on 2020-09-21), including upvotes (1) and comments (0), was merged into this suggestion.

29 Nov, '21
emily@fppathfinder.com Admin Merged

"Selling of a business" (suggested by James Woodall on 2021-11-23), including upvotes (1) and comments (0), was merged into this suggestion.

15 Mar, '22
Fred Borstad Merged

2 sale options for business owners: 1. Internal Sale 2. External Sale. Each has different paths: ESOP, PEG recap, etc.

18 May, '22
ChrisGranger Admin Merged

"Sale of a Business" (suggested by Sima Alefi on 2022-02-27), including upvotes (1) and comments (0), was merged into this suggestion.

10 Jun, '22
ChrisGranger Admin Merged

"What to consider when selling a business" (suggested by Zack Johnson on 2022-04-28), including upvotes (2) and comments (1), was merged into this suggestion.

13 Jun, '22
ChrisGranger Admin Merged

"Selling a Business" (suggested by Pam Horack on 2021-11-23), including upvotes (7) and comments (3), was merged into this suggestion. Original language from this merged suggestion: "Selling a small business to an outside party. Structuring capital gains, valuing the company, reinvesting funds in another business and other considerations"

13 Jun, '22
ChrisGranger Admin

"Tax Treatment for Businesses" (suggested by Jeff Lozier on 2021-09-29), including upvotes (1) and comments (0), was merged into this suggestion. Original language from this merged suggestion: "A 1-2 page chart that shows how different types of businesses are taxed based on the IRS tax code. e.g. LP, LLC, NPO, etc. (please let me know if one already exists- I might just be having problems locating it)"

13 Jun, '22
ChrisGranger Admin

"Succession Planning for a Season Business Owner" (suggested by Sima Alefi on 2022-02-27), including upvotes (1) and comments (0), was merged into this suggestion. Original language from this merged suggestion: "What steps should the business owner take to create a succession plan in event of death or unforeseen situation? What type of attorney to see, what buy sell agreement to use? What are the types of sale agreements, strategies, take lump sum, payments over time, etc. and also taxation."

13 Jun, '22
ChrisGranger Admin

"What steps to take when Opening a New Business" (suggested by Sima Alefi on 2022-02-27), including upvotes (1) and comments (0), was merged into this suggestion. Original language from this merged suggestion: "What steps to take when considering a new business."

15 Jun, '22
ChrisGranger Admin Merged

"Self-Employed Tax Deduction Check List" (suggested by Leland Marshall Gross on 2022-04-22), including upvotes (1) and comments (0), was merged into this suggestion. Original language from merged suggestion: "A check list to give to small business owners and self-employed individuals that shows them what can be considered a business expense/deduction."

15 Jun, '22
ChrisGranger Admin

"Is My Stock Eligible for Qualified Small Business Stock Tax Treatment (Code Section 1202)?" (suggested by Thomas Conway on 2021-07-06), including upvotes (1) and comments (0), was merged into this suggestion. Original language from this merged suggestion: "Flowchart showing potential tax treatment of Qualified Small Business Stock (Code Section 1202)."

15 Jun, '22
ChrisGranger Admin

"Choosing the right legal entity for your business " (suggested by Linda on 2018-08-17), including upvotes (109) and comments (4), was merged into this suggestion. Original language from this merged suggestion: "Taxation, liability, reporting considerations."

15 Jun, '22
ChrisGranger Admin

"Business Transition Strategies" (suggested by Kevin R. on 2020-01-19), including upvotes (62) and comments (14), was merged into this suggestion. Original language from this merged suggestion: "Strategies for transitioning closely-held and family-owned businesses."

15 Jun, '22
ChrisGranger Admin

"What issues to think about when self-employed" (suggested by Ed Jastrem on 2022-01-28), including upvotes (2) and comments (1), was merged into this suggestion. Original language from this merged suggestion: "tax, legal, cash flow, retirement plan etc. when self-employed.
Eligible for SEP or Individual 401(k)?
Are retirement plan contributions deductible at the state level, and if not, tracking for state basis purposes.
Need to pay quarterly estimated taxes, inclusive of self-employment taxes?
Keeping track of business expenses?
Considered adding any employees, and additional risks/requirement for that?
Choice of business entity, relative to Schedule C
Overlap from small business, but from perspective of sole proprietor:
Business continuity.
Business valuation.
Succession planning."

16 Jun, '22
ChrisGranger Admin

"QSBS eligibility flow chart" (suggested by Ryan Cole on 2021-05-11), including upvotes (2) and comments (0), was merged into this suggestion.

05 Jul, '22
ChrisGranger Admin

"Employee versus independent contractor" (suggested by JoAnn May on 2022-06-29), including upvotes (1) and comments (0), was merged into this suggestion. Original language from this merged suggestion: "pros and cons of employee vs independent contractor and how to evaluate offers."

29 Aug, '22
ChrisGranger Admin

"Type of Business Organization: LLC vs S-Corp" (suggested by Rosario Chacon on 2022-08-11), including upvotes (1) and comments (0), was merged into this suggestion. Original language from this merged suggestion: We often work with clients who want to start their own business and they are looking for guidance from their Financial Planner. A chart with tax implications and pros/cons could be VERY helpful to provide value to our future business owners clients. Thank you for your consideration."

14 Sep, '22
ChrisGranger Admin

"Items to Consider when Self-Employed" (suggested by Jenny Jesse on 2022-09-09), including upvotes (1) and comments (0), was merged into this suggestion. Original language from this merged suggestion: "Pros/cons of being self-employed (1099) vs an employee (w-2)."

14 Sep, '22
ChrisGranger Admin

"business and personal insurance coverage checklist for self employed business owners" (suggested by Kapil on 2022-09-03), including upvotes (1) and comments (0), was merged into this suggestion.

24 Oct, '22
ChrisGranger Admin

"What should I consider when selling or exiting my business?" (suggested by Patrick Rogers on 2022-10-13), including upvotes (1) and comments (0), was merged into this suggestion.

Comments: 44