Why Converting Your Home into a Rental May Be a Bad Idea: Many homeowners, when moving out of their primary residence, consider turning it into a rental property instead of selling it. On the surface, this may seem like a great idea, especially in high-appreciation markets. However, there are several
Most people who fail donât fail because they donât try, it is usually because they donât have the right system to create success. Success is intentional and so it is no surprise to learn financial security doesnât happen by accident; it requires planning and intentionality. Whether you aim to pay
What will happen to your business if youâre no longer around to run it? Too many business owners put off this question, but failing to plan for the unexpected can be costly. Whether its due to death, disability, or retirement, it can leave your company, employees, and loved ones in
As a business owner, you’ve worked hard to build your wealth. When it’s time to plan for the future, one question many of my clients ask is: “Can I charge my estate planning fees to my business?” It’s a smart question. After all, why not have your business cover these
Once again, the BOI Reporting requirements have changed. The most recent announcements from the Financial Crimes Enforcement Network (FinCEN) and the U.S. Department of the Treasury provide some clarity and temporary relief regarding the Corporate Transparency Actâs (CTA) Beneficial Ownership Information (BOI) reporting requirements. These developments, which could significantly alter
When it comes to investing, avoiding costly mistakes is essential for building long-term financial security and achieving your financial goals. Investment errors can not only erode wealth but also set you back years in your financial journey. Here are some common pitfalls to avoid. Lacking a clear financial plan It
Why Estate Planning Matters Estate planning is not just for the wealthy, itâs a crucial process for everyone, ensuring that your assets are distributed according to your wishes and that your loved ones are not burdened with unnecessary legal and financial challenges. Proper planning also prepares for unforeseen circumstances, such
The BOI Reporting saga continues⊠In the latest development, the Financial Crimes Enforcement Network (FinCEN) has reinstated the Beneficial Ownership Information (BOI) reporting requirements under the Corporate Transparency Act (CTA). This follows a recent federal court decision that lifted the previous nationwide injunction, thereby reactivating the mandate for entities to
As an investor, you make the conscious decision to take on the risks associated with investing. At the end of the day, this risk translates to some investments being âwinnersâ and some being âlosersâ. Unfortunately, almost every investor will encounter these âloserâ investments from time-to-time during their life. But
Common Tax Penalties & How to Mitigate Them With Tax Day officially behind us, Iâm sure many people feel like a weight has been lifted off their shoulders (at least until next April). However, some people might be left confused after filing their return. Why am I incurring a