Self-Directed IRA & Small Business Financing Blog
Thursday, April 30, 2009
On April 27th, 2009, the Wall Street Journal reported that franchising sales have declined due to the recession. Really??? Duh!It really shouldn't shock anyone but we decided to write about it anyway because there was a great point made...and then missed.
In the article, the CEO of FranChoice, Jeff Elgin partially blames the credit crisis. He said that is because many aspiring franchisees "who nine months ago would have gotten financing very easily are being held up." Well, that is true. What was missed in the story is that although there has been a decline in SBA and other lending products - there has been a significant increase 401(k) Small Business Financing vehicles. More and more individuals are seeing the value of investing in a business that they control and increase value in.
Guidant Financial Group is the only Inc. 500 business that allows individuals to invest their retirement funds into a business without paying taxes or penalties. Many of these clients are buying these businesses in cash (from the retirement plan) so that initial cash generated can go back into the business as apposed to being sent to a bank in the form of an interest payment! In Q1 2009, Guidant announced nearly 30% growth in it's business from 2007 to 2008.
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Tuesday, April 28, 2009
Buying a business is 17% cheaper than just one year prior according to an article published yesterday on CNNMoney.com called, It's a lousy time to sell your business. This article suggested that the volume of business transactions fell 36% from Q1 2008 to the same quarter in 2009. It also reported that median price point of transactions through BizBuySell was $165,000.
Sadly this article focused on the fact that you may not want to sell right now but BizBuySell reported that they listed more than 38,000 business last year meaning there is still tremendous inventory available for purchase. With so many willing sellers and prices depressed by 17%, could it be a great time to invest in a business? We believe there are many businesses for sale today that have significant upside!
Guidant's flagship business investment vehicle, the Guidant 401(k), allows investors to invest in a business or franchise without taking a taxable distribution or incurring penalties. Our average client has $180,000 in retirement funds. This means they have enough to buy the median price reported in this article in cash - not encumbering the purchase with any debt. You can also use small business financing methods like unsecured loans, equipment leasing and/or an SBA loan.
If you need more information...you know who to call.
Wednesday, April 15, 2009
Please read this before you mail your tax return to the IRS! Yes – Guidant Financial Group is a leader in small business financing and self-directed IRAs but it is “tax time”…and we’re all thinking about taxes!We searched the web looking for consensus on the top mistakes taxpayers make and, although there are more sources, we liked America Online’s simple report. We have included a summary of the mistakes but feel free to check out the original article! We took out seven…but there are 5 more for your enjoyment.
- Mistake #1 – Bad Math: Math mistakes are one of the leading reasons the IRS adjusts returns. Double-check all figures on your return and use a calculator!
- Mistake #2 – Bad Addresses: If you choose to file a paper return, be sure to use the address label off the tax return the IRS sent you.
- Mistake #3 – Incorrect Tax Table: If you use the IRS tax tables, be careful to use the correct column for your filing status.
- Mistake #4 – The Wrong SS#: Double-check this…
- Mistake #5 – Bad Routing Number: Many use direct deposit as a way to get their refunds…make sure you give the IRS the right information.
- Mistake #6 – Failure to Report All Income: Don’t try and hide it – under reporting income can lead to criminal charges.
- Mistake #7 – Send the Check: If you owe money, don’t forget to send the check!
Guidant is not a Tax Firm and this post was not written by a tax professional. Please check with your tax advisor before making any tax-related decisions. (Our attorney’s made us write that…but it’s true!)
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Tuesday, April 14, 2009
On March 20th the U.S. Local Business Association selected Guidant Financial Group for the 2009 Best of Bellevue Award in the Financial Advisory Services category….for the second consecutive year!
Nationwide, only 1 in 70 (1.4%) 2008 Award recipients qualified as 2009 Award Winners. Various sources of information were gathered and analyzed to choose the winners in each category. The 2009 USLBA Award Program focused on quality, not quantity. Winners are determined based on the information gathered both internally by the USLBA and data provided by third parties.
Each year, the USLBA identifies companies that they believe have achieved exceptional marketing success in their local community and business category. Since Guidant entered the market in 2003, we have quickly become a recognized leader in self-directed IRAs and small business financing through the vision of our founders, hard work of our staff and advisors and the trust our clients put in us. We are excited to receive this honor!
Nationwide, only 1 in 70 (1.4%) 2008 Award recipients qualified as 2009 Award Winners. Various sources of information were gathered and analyzed to choose the winners in each category. The 2009 USLBA Award Program focused on quality, not quantity. Winners are determined based on the information gathered both internally by the USLBA and data provided by third parties.
Each year, the USLBA identifies companies that they believe have achieved exceptional marketing success in their local community and business category. Since Guidant entered the market in 2003, we have quickly become a recognized leader in self-directed IRAs and small business financing through the vision of our founders, hard work of our staff and advisors and the trust our clients put in us. We are excited to receive this honor!
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