May 10, 2018
The Re-Trade of a Business Sale

The Re-Trade in a Business Sale… The Final Gotcha – Post #34

The due diligence period has just wrapped up, and teams are finalizing everything for the sale of your business. You’re ready for the “payday” – but then you get a call from one of your exit team members. The buyer has asked for a last-minute price reduction… a re-trade. Hearing those words will either have you wondering, “what’s a re-trade?”, or if you have done this before, send you into a tailspin of anxiety. Whichever person you are, you need to know why re-trades occur in a business sale so that you can see if there is anything you can do in advance to avoid hearing that dreaded word.
May 10, 2018
pay off 401(k) loan

Should I Pay Off My 401(k) Loan?

There are times when you need to come up with cash fast. When that happens, taking a loan out of your 401(k) may be a good option for you. After taking out a first position mortgage and second position mortgage, some clients found themselves in this exact situation. So they turned to their 401(k) to finish coming up with the money they needed.
May 9, 2018
Steps in a Due Diligence Process That Reduce Stress

6 Steps in a Due Diligence Process That Reduce Everyone’s Stress – Post #33

You’ve nurtured your “business baby” for years and years and know all about it. Consequently, only you have knowledge of unrecorded company processes and procedures. You have information in your head that the buyer wants to know. In fact, his team is probably asking, “What are we missing?” The due diligence process after the buyer issues a Letter of Intent and during the drafting of the purchase agreement is perhaps one of the most stressful dealings for the business seller. Candidly, that’s because the buyer is trying to figure out why your company is not worth what you think it’s worth. The buyer is digging up dirt on your business while you’re trying to remain calm under pressure. In this post, I’m going to walk you through 6 steps in a due diligence process that will help you navigate these murky waters and finalize that protective purchase agreement.
May 8, 2018
Tax Tip Tuesday Financial Blog Post

Tips for Preparing for Natural Disasters Now That Could Save You Money Later

While we all pray that natural disasters do not impact our lives, the IRS reminds us taxpayers of ways to prepare before the unthinkable strikes. We can reduce the stress when it comes time to file claims or rebuild after a hurricane or other catastrophic event.
May 7, 2018
The Business Purchase Agreement

The Who, What, When, Where, Why of a Business Purchase Agreement – Post #32

In Post #31, I talked about how the purchase agreement can protect you, the seller against future claims and liabilities against your company. Now, I need to show you what an actual business purchase agreement looks like. Since you know that you have certain protective terms and conditions to include, you need to know where to put them. Yes, this document can protect buyers and sellers. However, it does so much more than that. Essentially, the purchase agreement outlines and answers everything about the business’s sale.
May 3, 2018
Financial Games for Kids

9 Financial Games for Kids That Teach Monetary Principles

It is hard to believe one of the most important aspects pertaining to our kids’ future is often overlooked: learning about finances! Since these life-changing concepts are not adequately covered in schools (in my opinion), that job falls on us parents! Financial games for kids will expose them to the rules they will encounter during banking and managing money as they grow up. The best part—when playing these money-related games, they can take financial risks and without being penalized. The summer break is a great time to snatch one up and get your kids’ financially simple education started!