R.V. Owens

Many business owners view taxes as an annual filing obligation. They gather their documents, send the information to a tax preparer, pay any balance due, and return their attention to running the company. However, effective tax planning goes far beyond preparing a tax return. A coordinated tax strategy can help a business manage cash flow, meet its payroll obligations, build retirement wealth, provide valuable employee benefits, and reduce the risk of costly financial surprises. The goal is...

Many individuals and business owners mistakenly believe tax planning is something that happens during the final few weeks of December—or when their tax return is prepared the following year. However, by December 31, many of the best opportunities to reduce taxes, improve cash flow, and make strategic financial decisions may already be gone. Tax preparation records what already happened. Tax planning helps determine what happens next. The federal income tax system generally operates on a...

Many people believe that the safest investment strategy is to avoid risk completely. They keep most of their money in cash, savings accounts, CDs, or very low-risk investments because they are afraid of losing money in the market. While being careful is important, being too conservative can create a different kind of risk—the risk of not growing enough. The biggest danger is inflation. Over time, the cost of food, housing, healthcare, insurance, and everyday living usually increases. If your...