How financial planning differs for entrepreneurs

Advisors


  • Once an entrepreneur’s new business venture is up and running, a well-constructed financial plan should be put in place to meet personal goals.
  • An entrepreneur’s financial plan differs in many ways from one for a non-entrepreneur.
  • How entrepreneurs compensate themselves — via wages or profit distributions — impacts what they pay in Social Security and Medicare taxes.
  • Other differences include benefits and exit strategies, risk assessment and how to achieve both business and personal goals.

Micah Porter, owner and president, Minerva Planning Group



Source link

Products You May Like

Articles You May Like

Commerce Department will oversee new space debris policy
Forget India as a consumer market, here’s what Delhi wants to sell you
General Electric sets aside $1.5 billion for DOJ investigation
Morgan Stanley shares gain after record first-quarter earnings report
Russian billionaire’s superyacht given to former wife in divorce case

Leave a Reply

Your email address will not be published. Required fields are marked *