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Leadership: Reading the Signs
Throughout history, in business and elsewhere, great leaders have arisen out of unfavorable circumstances. In major league baseball, Bud Selig pioneered efforts to put an end to the use of performance enhancing drugs that had infected the sport for so many years. As a leader, your first and foremost objective should be to do the right thing.
Read MoreWhat are retirement plans for small business owners?
In terms of qualified retirement plans that incorporate an IRA, a SEP-IRA or SEP plan offers the greatest tax benefits to small business owners, but small business owners and their employees have a variety of retirement plan options. For example, there are several different types of IRAs: Traditional IRA, Roth IRA, Education IRA (EDIRA), now called Education Savings Accounts, SEP-IRA, SARSEP-IRA, and SIMPLE-IRA.
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Setting up a Foundation?
Scholarship programs. There are different approaches to establishing scholarship programs which range from an annual scholarship awarded by a business to a nonprofit foundation that may fund many scholarships. We do not know how much money your business plans to spend on scholarship awards or if you plan to operate a nonprofit organization to raise money for scholarships, but establishing a scholarship program with preferential tax treatment for donations involves the creation of a nonprofit charitable entity.
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