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How to Build a Business That Doesn’t Depend on You

Many business owners take pride in being essential to their company. They approve major decisions, maintain key customer relationships, solve operational problems, review every important proposal and step in whenever something goes wrong. That level of involvement may have helped build the business. Over time, however, it can also limit the company’s growth and reduce…

Five Value Killers Buyers Notice Immediately

When business owners think about selling, they often focus on revenue, profit and the purchase price they hope to receive. Buyers look at those items too. But buyers also look closely at risk. A business may be profitable and still receive a lower valuation if buyers believe the company is too dependent on the owner,…

What Is Your Business Really Worth?

Many business owners have a number in mind when they think about the value of their company. Sometimes that number is based on what they need for retirement. Sometimes it comes from what a friend sold their business for. Sometimes it is based on years of sacrifice, long hours and the emotional value of what they built. …

Dear F+H: Do I need a trust, or are they just for the ultra-wealthy?

Dear F+H: All of my friends are telling me I need a trust. I always thought trusts were only for the ultra‑wealthy. I already have a Will, what benefit could I even get from a trust? — Confused About Trusts Dear Confused: Believe it or not, trusts aren’t just for the ultra‑wealthy. In fact, many individuals and families benefit from adding a…

Don’t Wait Until You Sell: Why Succession Planning Starts Today

Many business owners spend decades building a successful company. They serve customers, develop employees, manage risk, make sacrifices and create value over many years. Yet one of the most important questions often gets delayed: How will the business transition when the owner is ready to step away? Succession planning is frequently treated as something to address shortly before retirement or…

What Is Financial Scenario Planning and Why Does It Matter?

Key Takeaways Financial scenario planning helps business owners prepare for multiple possible outcomes instead of relying on a single forecast. Regularly testing different financial scenarios can improve cash flow management, budgeting, and operational decision-making. Strong financial data and updated assumptions make scenario planning more accurate and more useful over time. Business conditions can change quickly. A shift in customer demand, rising payroll…

529 Plans vs. Trump Accounts: Choosing the Right Savings Tool for Children

Families now have more than one tax-favored way to save for a child’s future. For many years, Section 529 qualified tuition plans have been the primary tax-advantaged vehicle for education savings. Beginning under the 2025 legislation, Congress also created Section 530A “Trump accounts,” a new IRA-like savings account for eligible children. Although both accounts can help families invest for minors, they are designed for different…

Trump Accounts Update: Pilot $1,000 and Dell $250

Understanding the New Federal Trump Accounts Program Many families have heard about the new Trump Accounts program and the possibility of a $1,000 federal contribution for some children. There has also been publicity about an additional $250 contribution funded by Michael and Susan Dell for certain children. Because the rules are new and the process is not intuitive, it…

Internal Controls That Help Prevent Employee Bookkeeping Fraud

Key Takeaways Separating financial responsibilities reduces the risk of bookkeeping fraud and makes irregular activity easier to detect. Small warning signs such as delayed reconciliations or unusual employee behavior can signal larger financial issues. Simple internal controls, including dual approvals and monthly reviews, help protect cash flow and business stability. Most business owners trust the employees who…

Strengthening Your Chart of Accounts for Clearer Financial Insights

Key Takeaways An outdated reporting structure can reduce the accuracy and usefulness of financial reports. Aligning your chart of accounts with business operations improves forecasting and decision-making. Regular reviews help ensure financial reporting continues to support growth and changing business needs. Business owners depend on financial reports to make decisions about hiring, pricing, expansion and…