Eakes & Company, CPA's

There are ways to collect income and gains free from federal income tax. For example, if you receive a gift or inheritance, the amount generally isn’t taxable. And unlike withdrawals from traditional IRAs, qualified Roth IRA withdrawals are free from federal income tax. A qualified withdrawal is one taken after you reach age 59½ and have had a Roth IRA open for over five years, or you are disabled or deceased. Also, you can have a decent income and still owe 0% for long-term gains and dividends. In 2024, single taxpayers can have up to $47,025 in taxable income ($94,050 for married couples filing jointly) and be in the 0% bracket. Contact us. Advance planning may lead to better tax results.

There are ways to collect income and gains free from federal income tax. For example, if you receive a gift or inheritance, the amount generally isn’t taxable. And unlike withdrawals from traditional IRAs, qualified Roth IRA withdrawals are free from federal income tax. A qualified withdrawal is one taken after you reach age 59½ and have had a Roth IRA open for over five years, or you are disabled or deceased. Also, you can have a decent income and still owe 0% for long-term gains and dividends. In 2024, single taxpayers can have up to $47,025 in taxable income ($94,050 for married couples filing jointly) and be in the 0% bracket. Contact us. Advance planning may lead to better tax results.

There are ways to collect income and gains free from federal income tax. For example, if you receive a gift or inheritance, the amount generally isn’t taxable. And unlike withdrawals from traditional IRAs, qualified Roth IRA withdrawals are free from federal income tax. A qualified withdrawal is one taken after you reach age 59½ and have had a Roth IRA open for over five years, or you are disabled or deceased. Also, you can have a decent income and still owe 0% for long-term gains and dividends. In 2024, single taxpayers can have up to $47,025 in taxable income ($94,050 for married couples filing jointly) and be in the 0% bracket. Contact us. Advance planning may lead to better tax results.

For many business owners, choosing a successor is a difficult task. What’s worse, many owners’ initial picks for successor can turn out to be dubious choices. If you find yourself in this situation, don’t panic. First, discuss the matter with objective parties such as your professional advisors and trusted family members or colleagues. If you then decide to stick with your successor, talk about your concerns with the individual and look for ways to address what’s troubling you. If you determine that you must pick someone new, tell your initial successor as soon as possible and explain why. Then, review and improve your succession planning process to avoid making the same mistake twice.

For many business owners, choosing a successor is a difficult task. What’s worse, many owners’ initial picks for successor can turn out to be dubious choices. If you find yourself in this situation, don’t panic. First, discuss the matter with objective parties such as your professional advisors and trusted family members or colleagues. If you then decide to stick with your successor, talk about your concerns with the individual and look for ways to address what’s troubling you. If you determine that you must pick someone new, tell your initial successor as soon as possible and explain why. Then, review and improve your succession planning process to avoid making the same mistake twice.

For many business owners, choosing a successor is a difficult task. What’s worse, many owners’ initial picks for successor can turn out to be dubious choices. If you find yourself in this situation, don’t panic. First, discuss the matter with objective parties such as your professional advisors and trusted family members or colleagues. If you then decide to stick with your successor, talk about your concerns with the individual and look for ways to address what’s troubling you. If you determine that you must pick someone new, tell your initial successor as soon as possible and explain why. Then, review and improve your succession planning process to avoid making the same mistake twice.

A strong brand is critical to differentiating your business from competitors and can help boost revenue. A weaker brand can reduce sales opportunities and stifle growth. But brand strength isn’t easy to measure. That’s why many companies conduct brand audits. These are formal reviews of brand efficacy and market standing. There are various ways to conduct a brand audit. But most include gathering and analyzing readily available business information such as sales data, website analytics and social media interactions. They also may involve brand-focused customer and employee surveys. Ultimately, done properly, a brand audit can help with marketing, strategic planning and even fraud prevention.

A strong brand is critical to differentiating your business from competitors and can help boost revenue. A weaker brand can reduce sales opportunities and stifle growth. But brand strength isn’t easy to measure. That’s why many companies conduct brand audits. These are formal reviews of brand efficacy and market standing. There are various ways to conduct a brand audit. But most include gathering and analyzing readily available business information such as sales data, website analytics and social media interactions. They also may involve brand-focused customer and employee surveys. Ultimately, done properly, a brand audit can help with marketing, strategic planning and even fraud prevention.

A strong brand is critical to differentiating your business from competitors and can help boost revenue. A weaker brand can reduce sales opportunities and stifle growth. But brand strength isn’t easy to measure. That’s why many companies conduct brand audits. These are formal reviews of brand efficacy and market standing. There are various ways to conduct a brand audit. But most include gathering and analyzing readily available business information such as sales data, website analytics and social media interactions. They also may involve brand-focused customer and employee surveys. Ultimately, done properly, a brand audit can help with marketing, strategic planning and even fraud prevention.

Budgeting is essential for businesses. Here are six key elements of a budget and some best practices to consider: 1) Current overview; compose an up-to-date description of your business, its market and impactful economic factors. 2) Budget rationale; explain how the budget supports your mission, vision and goals. 3) Line items; be sure you’re including all expenditures. 4) Performance metrics; clarify how you’ll determine whether you’re making, breaking or beating the budget. 5) Supporting appendices; discuss whether to include additional information. 6) Executive summary; this brief introduction can prove helpful to internal users, as well as lenders and investors. Contact us for more info.