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Articles to LIFT Your Life and Business

How to Save Big Money on Your Taxes This Year – Part 3

Welcome back to our third and final article in our series on how you can save big money on your taxes this year.  Just a little time and effort focused on strategically reducing your taxes can pay big dividends. In part 1,we discussed the first step in saving big on taxes: strategize with your tax […]

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How to Save Big Money on Your Taxes This Year – Part 2

Welcome back to our series on how you can save big money on your taxes this year. Just a little time and effort focused on strategically reducing your taxes can pay big dividends. Last week, we discussed the first step in saving big on taxes: strategize with your tax advisor at key points during the […]

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How to Save Big Money on Your Taxes This Year

It can be shocking to realize that our biggest personal and business expense, bar none, is taxes.  The good news is that just a little time and effort focused on strategically reducing your taxes can pay big dividends. The first thing to know about taxes is that it is not illegal to strategize to save […]

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Ridesharing: Who Cares Whether Drivers Are Employees or Independent Contractors?

Ridesharing companies like Uber and Lyft have been front and center in recent media stories and court decisions. All across the country, drivers have brought lawsuits arguing that they are employees of these companies, rather than independent contractors. If you own a business and think these stories have no relevance to you, think again. What […]

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7 LIFT (Legal, Insurance, Financial and Tax) Prerequisites for Starting A New Business

As lenders ease credit conditions following the Great Recession, new business formation in the U.S. is on the rise. If you are starting a business in 2015, be sure you pay attention to the following prerequisites: Discuss with legal counsel which corporate structure is best for your business: sole proprietorship, partnership, corporation (C or S), […]

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Don’t Panic Over Taxes. Use These Special Tax Tips for the Small Business Owners

Completing your small business taxes for 2014 may already be in your rear view mirror, but the stress of taking time out of your business to do them may be lingering.  Even if you have filed an extension, there’s always next year. And, you may be surprised to hear this, but this is the time […]

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Preparing Your Company for an Eventual (and Profitable) Sale

If you are a small business owner, chances are that most of your personal net worth is tied up in your business.  So even if selling your company is not on your radar anytime soon, there will come a day you will want to cash out and sell it at the best possible price. Even […]

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Did You Just Hire an Employee or an Independent Contractor? Be Sure You Know!

In its recent ruling in FedEx Home Delivery, the National Labor Relations Board (NLRB) added a new factor for the classification of a worker as an employee or an independent contractor.  The NLRB found that a worker’s right to “entrepreneurial opportunity” was not solely sufficient to classify a worker as an independent contractor; rather, the […]

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Choose the Right Business Entity

One of the first decisions an entrepreneur should be making is the selection of the right form of business entity.  This is a critical decision because of its ongoing legal and tax consequences. Liability protection is the most important non-tax consideration in the business entity selection process.  The business owner has to have a shield […]

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The Audit That Will Change the Way You Run Your Business

Most people hear the word “audit” and hit the panic button, including business owners.  But there is an incredibly powerful tool called the LIFT Foundation Audit that can change the way you run your business for the better. The LIFT (Legal, Insurance, Financial, Tax) Foundation Audit is a process we walk through with our business […]

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Asset Protection Strategies for Business Owners

If there was ever a Catch-22 situation for business owners, it is this:  most do not take the necessary legal steps to protect their personal wealth until it is threatened by creditors or litigants – and by then, it’s too late to implement effective asset protection strategies. A survey of 242 business owners conducted by […]

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