It seems somewhat antithetical that most small businesses have little to no planning. In fact, most small businesses are unaware of existing problems and future challenges because they work in their business, not on their business. So, a new market of businesses that help businesses is emerging.  CPAs, attorneys and trust officers have some influence over these owners by virtue of tax preparation, entity creations and banking. But they don’t address the key issues that confront everyday business owners. There are seven basic business items that are foundational to daily operations, preparing the company for sale and future access to the sale proceeds in a tax favored way. Recruiting and Retaining Employees requires perks beyond a base salary and healthcare to be competitive with the labor force. Ancillary benefits can provide extra incentive for recruits to join and employees to stay. Employee Benefits such as health savings accounts, short and long term disability as well as ancillary coverage like life insurance, chronic health and long term care, are necessary to recruit employees in a competitive environment. Key Employee Coverage for the revenue rainmakers and the administrator that operate your business. Identification on key employees can be the difference between catastrophe   Read more…