At Baum CPA we are routinely asked about the tax implications of starting a ROBS, and all too often we are asked if an S-Corporation would make more sense. For those who are not yet familiar with the term, ROBS stands for Roll-Over as Business Startup, where an entrepreneur restructures their 401k retirement plan to […]
The IRS Is Not ALWAYS the Bad Guy! Although the Internal Revenue Service is often a favorite bad guy, and this blog frequently casts aspersions and sideways glances at many IRS policies and practices, this time The Service is practicing at being the hero. At least a little bit heroic, anyway. IRS announced on June […]
You face plenty of challenges as a small business owner. Finding ways to protect yourself against lawsuits is a major one. You may be able to add protection by structuring your business as a corporation or limited liability company (LLC). Both these entities may shield the owners’ or members’ personal assets from the company’s debts […]
The Show So Far… Back in early March, this blog asked, “Just What the Heck Is Going on With the IRS These Days?” We answered that question with some consolidated research on the huge backlog of unprocessed tax returns at IRS that started accumulating during the pandemic, continued to mount as the Service attempted to “work […]
In this article we continue with some of the most advantageous reasons why a Roll Over as Business Startup (ROBS) works for some entrepreneurs, and discuss further insights as to why we want to leverage these concepts to the entrepreneurs’ advantage.
Comparing key financial ratios for a business against industry standards and with its own past results can highlight trends and identify strengths and weaknesses in the business. Financial statement information is most useful if owners and managers can use it to improve their company’s profitability, cash flow, and equity value. Getting the most mileage from […]