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Old 21st April 2013, 08:35 AM   #1
AngelBiz
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Default Lomg-term Saving Plan For Small Business Owners

If you are like most small business owners you don’t pay enough attention to saving for the long-term. After all, when you can invest money in your own business and get higher return than saving at a bank why wouldn’t you reinvest in your business instead of saving it. Many business owners do not even keep their personal and business finances separate. Their accounts and expenses are intertwined moving money from personal to business and vice versa all the time.

This could be a big mistake. As much as you would like to invest your money back in the business this can create number of issues potentially not only impacting you, but your family too. First of all, if something goes wrong with the business you could lose it all with no rainy day fund to tap into. The tax authorities will also come down hard in audits if you cannot show how your personal and business finances are kept separate.

Read more - http://www.smallbizviewpoints.com/20...m-saving-plan/

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Old 21st April 2013, 06:03 PM   #2
Handdy.com
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Good points. Thanks for sharing the post

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Old 22nd April 2013, 08:57 AM   #3
carpetnj
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Quote:
Originally Posted by AngelBiz View Post
If you are like most small business owners you don’t pay enough attention to saving for the long-term. After all, when you can invest money in your own business and get higher return than saving at a bank why wouldn’t you reinvest in your business instead of saving it. Many business owners do not even keep their personal and business finances separate. Their accounts and expenses are intertwined moving money from personal to business and vice versa all the time.

This could be a big mistake. As much as you would like to invest your money back in the business this can create number of issues potentially not only impacting you, but your family too. First of all, if something goes wrong with the business you could lose it all with no rainy day fund to tap into. The tax authorities will also come down hard in audits if you cannot show how your personal and business finances are kept separate.

Read more - http://www.smallbizviewpoints.com/20...m-saving-plan/

It is good to diversify. Invest some of your money in real estate or stocks.

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