Blog
How to Maximize Profits: Increasing Revenue and Reducing Costs Without Selling More
Every business wants to know how to maximize profits, but sometimes earning more by selling more isn’t a viable strategy. Market conditions can turn lead generation efforts cold, perhaps your…
Maximizing Profitable Exits: How to Price a Business for Sale
Selling your business is a significant milestone. After years of hard work and dedication, it’s time to close this chapter and move on to the next. But how do you price a business for sale? And what factors can you control to influence the final…
How to Convert Your LLC to an S Corp
Your LLC is thriving, with consistent profit growth over time, yet your self-employment tax bill seems to follow suit. It’s time to reevaluate your business structure and possibly make a transition. Could shifting from LLC to S corp be the answer?
Distinguishing Between Revenue and Profit: A Guide for Business Owners
Understanding financial metrics is essential for assessing the performance of any company, regardless of its industry or business type. Among the most crucial metrics are revenue and profit, which provide valuable insights for accurate…
The Business Owner’s Guide to Wealth Preservation: Safeguarding Your Assets for Future Generations
Business owners work long and hard to build wealth and establish a successful enterprise. However, protecting and preserving that wealth for future…
Tax Planning for Business Owners: Strategies to Mitigate Your Tax Burden
In this article, we will explore various tax strategies tailored specifically for business owners, designed to help you understand and strive to optimize your tax situation or know what to look for in your own plan. By implementing these techniques, you…
Cash Flow Management for Small Businesses: 8 Tips and Tricks from the Financial Advisors at Trivium Point Advisory
Managing cash flow is the lifeblood of any small business. It’s like the heartbeat of your enterprise, keeping your dreams alive and kicking. But sometimes, cash flow…
Premier Wealth Management for High Income Business Owners: Work Towards Protecting Your Business and Funding the Life You Love
As a high-income business owner, you have unique financial needs and challenges that require a specialized…
Why It’s Critical to Integrate Tax Preparation with Your Financial Plan
For many people, reviewing their financial plan and preparing their taxes are mutually exclusive events, meaning they tend to treat them separately as if one didn’t impact the other. Many often review their financial plans once or twice every…
Dispelling the Water Cooler Myths Around Business Entity Structures: LLC or S-Corp?
We see this scenario almost weekly. A valued client refers a business owner friend to our firm and the first thing they ask is: “I’m an LLC, but my friend said I should file as an S-corp. What should I…
SECURE Act 2.0 is a Game-Changer for Retirement Savers
With the passage of the federal omnibus bill in December, Congress has unleashed a sequel to the SECURE Act of 2019, which introduced several changes and enhancements to retirement plan rules. The SECURE Act 2.0 builds on that with…
How to Adjust the Who or the What When Your Business Capacity is Tapped Out
Clients are the lifeline of your business. But what do you do when your plate is full? You can’t just neglect your work and expect clients to stick around. Nor can you just keep adding more work hours into…
Customers Want Good, Cheap, and Fast. But, They Can Only Choose Two.
Good, cheap, and fast. In an ideal world, these are the three things we would get from a service provider every time we went out looking for one. Doesn’t matter if you’re talking about a long-term service like financial planning or a short-term…
Why You Need to Ask Your CPA About Their Succession Plan
According to the American Institute of CPAs, 75 percent of today’s CPAs will be retiring in the next 15 years. Will yours be one of them? If so, what do you know about their succession plans? Should you care? Here’s why you should.
Travel Advisors Can Vastly Increase Their Potential Through Team Ensembles
For several years the financial advisory industry has trended toward the creation of ensemble practices. This is primarily due to the increasing complexity of properly servicing wealthy clients and the need for more specialization. The travel…
Networking Your Way to Business Success
For anyone with ambitions of life-changing personal or business growth, that begs the question of whether you have taken inventory of the people around you to understand if they are lifting you up or keeping you down. As you survey the contact list of your inner circle, are there…
There’s Still Time to Claim the Employee Retention Tax Credit
The ERTC provides eligible employers with tax credits for payroll-related expenses, including wages and health insurance. Initially, the credit was equal to 50% of qualified wages paid between March…
The Importance of a Mid-Year Check-in with Your Accounting Team
The true value of your accounting team is the guidance they can provide throughout the year to help you maximize your profits and your personal income. To get the most value out of your accounting team, it’s crucial to check in several times a year..
What Happens When You Can No Longer Make Investment Decisions on Your Own?
The implication for aging investors is evident, especially those who insist on managing their own investments. At what point will they recognize or accept their diminished “financial capacity”—the…
Pre-Funding Your Business Exit with Excess Cash
Many business owners dedicate their working lives to turning their vision into a profitable enterprise with the expectation it will become the ultimate source of their wealth. When they’re ready to hang up their boots, they can simply sell the…
Some Reasons Why Your Investments Shouldn’t Be Managed by Your Banking Institution
If your bank offers investment products and advice, it seems natural to want to avail yourself of them. After all, it’s where you have your checking and savings account and your mortgage, so why…
6 Things You Should Know Before Hiring Your Financial Advisory Team
Choosing the right financial advisory team is one of the most important decisions you’ll ever make—especially for those with big life goals (and eventually retirement) in their sights. But putting your financial future in someone else’s hands isn’t…
Market Conditions (and Risks) We Haven’t Seen in 40 Years Are Making a Comeback
Would you believe us if we told you we haven’t seen this type of investing market in 40 years? As surprising as it may sound, it’s just the reality of what we’re experiencing in our economy today.
Is the Process of Financial Planning More Impactful than the Actual Financial Plan?
The process of making a financial plan can be absolutely transformative. In the process of making a financial plan, I see people change. I see people go from confused and afraid to confident and…
Why Is It Harder to Quit Bad Financial Habits Than Create Good Ones?
Spoiler alert: It has to do with highly caffeinated monkeys. Turns out, our minds are all ruled by tiny “instant gratification” monkeys that steer our rational decision-making brains away from what makes sense and toward what feels good now.
Why Do I Owe Taxes on my RSUs if I Haven’t Sold Them?
Restricted Stock Units (RSUs) are a form of equity compensation that give you ownership in the company you work for, either to augment a base salary or as a bonus. Unlike regular stock options, which require putting money down to exercise…
New York State PTE Tax Election Deadline March 15, 2022
Last year, NYS provided a tax bill that allows owners of eligible entities to deduct a larger portion of their NY state income tax through their business. This was designed to help offset the SALT tax that…
Are Two Owners Better Than One?
They say two heads are better than one, but also warn about having too many cooks in the kitchen. There are distinct tax and financial benefits to forming a partnership—such as a greater borrowing capacity and simplified taxation—but what are the non-financial advantages that…
Why It’s Still a Good Time to Double Down on Growth Through Acquisition
Acquisitions, done well, can be a powerful tool to accelerate revenue growth. And pushing for gains is vital in many industries where the rate of growth typically…
How Tax-Savvy Business Owners Reward Themselves and Their Staff at the End of the Year
Getting gifts and bonuses is great—until someone reaches their hand into your paycheck and pulls a whole bunch of it out (ahem—the IRS)! This sounds unfair but is often what happens with supplemental…