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Nolan Accounting Center
4262 South 108th Street
Greenfield, WI 53228
Phone: 414-425-5690
Fax: 414-425-2373
Website: www.nolanaccounting.com
Keeping your company running smoothly can be more than a full-time job, which can leave little time to focus on your financial goals. However, decision making without considering goals and your future may be something you might regret in the future.
BUDGET MANAGEMENT
Cash-flow problems strike most small business owners. But you can avoid them by creating and managing realistic budgets—at work and home. Monitor your income, expenses, inventory, and cash, adjusting and rebalancing when required to cover your fixed costs and maintain a cash reserve.
Also, meet with your tax professional regularly to maximize your business deductions. This may include timing of income and expenses and saving for retirement in the most tax-efficient way.
Perhaps the most important risk to cover is to ensure that your family will be financially secure should the unthinkable happen. Make sure you have adequate life insurance. Also, disability insurance to help protect your personal earnings potential if you’re ill or injured and unable to work.
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