Maximizing Non-Cash Assets Through Donor-Advised Funds

Each year, the vast majority of charitable giving is done through liquid assets, like cash. The disconnect, though, is that the vast majority of wealth in the U.S. is tied up in non-cash assets, like business interests and stocks. Well, in this brave new world of 2021, shouldn’t there be a way to efficiently donate non-cash assets to some of your favorite charities? There is. We’ll take  a look at donating non-voting Read More

5 Tips on Reigniting Your Entrepreneurial Passion

Every several years, just about every worker gets in a rut. Business owners are certainly not immune to this phenomenon. If you find yourself in one of these situations, Soterian understands what you’re feeling. To rekindle your entrepreneurial spirit, try following the five pieces of advice we’ve provided below.  Give back to the community. Besides being the right thing to do, giving to charity brings warm Read More

Bonus Depreciation: What is It, and Why Does it Matter?

As a savvy and successful business owner, you can probably discern a business expense you can write off and a capital asset you must depreciate. To briefly review, a business expense is a cost not directly related to production of a company’s goods or services. An expense is also used in relatively short order. An asset, on the other hand, is something your business will probably use for years and is essential in Read More

An Overview of Donor-Advised Funds

Sometimes, it just might seem that it is too complicated, time-consuming, or downright expensive (tax-wise) to contribute all the funds you want to give away to charity. You might finally be in a position to help the causes that are near and dear to your heart but the process is a little more involved than you envisioned. There are more time-efficient and cost-efficient ways to give to charity, though; one of these Read More

Reducing the Tax Burden for your Small Business

Even under normal economic circumstances, business owners are looking for ways to cut costs and save money for a rainy day (or year). Or, you might want to gather funds for a capital investment. Whatever the reason, there are quite a few ways you can either use federal tax credits or reduce your company’s taxable income. Below, we have explained four popular ways that businesses are saving money.  Employ Family Read More

Understanding Add-Backs

In a typical mergers & acquisitions (M&A) transaction, both parties (buyers and sellers) search for ways to understand the true value and earning capacity of the target company. Buyers want the unvarnished truth, and sellers have an obvious incentive to present favorable figures. One approach to presenting numbers to the buyer while they are performing due diligence on a target company is to include add-backs Read More

4 Elements of a Strong Business Succession Plan

A business succession plan is something that nearly all business owners understand is a crucial part of their company’s long-term success. The disconnect here is that few entrepreneurs actually have a written, documented plan that accomplishes everything needed of an effective business succession plan. To be fair, many business owners cannot possibly imagine a world in which they are not their company’s hands-on, Read More

A Brief Introduction to EBITDA

When assessing a company that you are thinking of buying, there are multiple measures you can use to gauge the profitability and general earning potential of this target company. One figure that can be used is EBITDA – earnings before interests, taxes, depreciation, and amortization. This calculation takes EBIT one step further by taking away the depreciation and amortization expenses of a company. EBIT, which is Read More

4 Characteristics of a Good Succession Candidate

Thinking about succession plans is something many business owners just never get around to doing -- until it’s too late. Some entrepreneurs are too uncomfortable facing the prospect of their own mortality, while others probably genuinely think that they will always be leading the company while they're alive because they simply can’t imagine doing anything else.  The truth is that no matter how long you’ve been Read More

Key Employee Retention Plan

The COVID-19 pandemic has decimated the income and profit streams of small businesses across the country, many of which were already on less-than-solid financial ground. Various state and federal measures have been enacted to provide individuals and businesses alike with some amount of financial relief during the severe economic downturn. In late March, Congress passed and the president signed the $2.2 trillion CARES Read More