Practice Group Blogs
Eight Business Lessons Learned from our Q&A with DUDE Products
We’re spilling the beans on one of our clients. These are the takeaway business lessons we gleaned from a recent interview with Brian Wilkin of DUDE Products, including a sneak peek of what’s in store next for the DUDEs.
Before You Renovate Your Home, Do the Math
David M. Bowman
Thinking about renovating your home to boost its market value? You’re not alone. In the first quarter of 2017, the Remodeling Market Index, compiled by the National Association of Home Builders, reached 58. That’s close to its historical high and is its strongest showing since the fourth quarter of 2015.
How Detailed Does My Business Budget Need to Be?
I feel pretty safe saying that most, if not all, entrepreneurs know they need a business budget. Where business owners often get hung up is on just how comprehensive that budget needs to be. We, at Red Granite and ORBA, frequently get asked this exact question by clients: “How detailed does my business budget need to be?” And it’s another one of those “it depends,” kind of answers.
Questions to Ask Your Accountant Before You Expand Your Business
Do You Know When The Time is Right (or Wrong) to Expand Your Business? Think you are ready to expand your business? We often see startups attempt to expand too quickly before they are at the appropriate stage in their growth. To know if you have reached the right phase in the evolution of your […]
The Most Common Signs You Have Outgrown QuickBooks
When is it the Right Time to Say Goodbye to QuickBooks? We often get asked by growing companies whether or not they have outgrown QuickBooks. Let us preface this by saying when we get asked this, the honest answer is—it depends. It depends on your company size, it depends what industry you are in, and […]
Target Date Funds – Confusion?
The proliferation of target date fund (TDF) varieties can confuse many plan sponsors. One survey found that while nearly two-thirds of plan sponsors consider investment performance the most important selection criterion when choosing a TDF for their participants, more than half are not confident that they have a solid basis for benchmarking the TDFs against […]
Financial Evolution of a Start-Up
From checking it twice to predicting your future, these are the five stages of a start-up’s finances: Stage One: The Lone Wolf Transaction In the beginning of the evolution of a start-up, it is likely that the founder is in a lone wolf scenario. He or she is grinding away to get the business off […]
Three Things You Must Have Before Fishing for VC and Angel Funding
Let us start with a dose of reality. Very few, as in significantly less than 1%, of emerging U.S. businesses successfully secure Venture Capital (VC) funding. According to the National Venture Capital Association, less than 1,500 companies were the beneficiaries of first time VC backing in 2015. While angel funding is more available than VC investments, only about 2.5% of companies that apply successfully attain funding. If you think your company will be one of the lucky few, here are a few things you will need before pitching to VC or angel investors.
IRS Simplifies Process for Avoiding Rollover Penalties
As retirement plan processes continue to be more automated, such as enrollments, deferral changes, distributions, loans, etc., many plan sponsors encourage 401(k) plan participants to request a direct trustee-to-trustee transfer or direct rollover. However, participants sometimes do not adhere to this advice and ask to have their account balances distributed directly to them, subject to […]
What Is Buried Inside Your 401(k) or 403(b) Plan Fees?
Larry A. Ruff
Do you know and understand what are your 401(k) or 403(b) plan’s fees, and especially, what are inside those buried fees? Broadly speaking, retirement plan fees consist of fees and expenses associated with plan administration services, such as record keeping fees, and plan investment activities, such as investment management fees. But what are the fees buried inside your plan’s investment funds?