Tag Archives: ideas

Does it pay to be highly successful? From a personal and professional viewpoint, sure. You get satisfaction from helping your clients and customers and achieving milestones, as well as financial rewards. But from a tax viewpoint, success has its downside. Federal tax rules may penalize your efforts. Higher income tax rates aren’t the only thingsContinueContinue reading “Added Tax Costs for Successful Business Owners”

It’s a well-known fact that most business owners pour their heart and soul into their business ventures. When the time comes to retire, closing down the business may seem like the easiest way out. However, shuttering your business might not be the most profitable decision that you can make. Selling your business is a probablyContinueContinue reading “Considering Retirement? Don’t Just Shut Down Your Business, Sell It!”

Are we going to have a recession or not? Ask 3 economists and you get 3 different answers. The best course of action is to prepare and if we don’t have a recession, the business is in a better position anyway. One way to prepare is to deploy generative artificial intelligence (AI). It’s been reported thatContinueContinue reading “Recession Proof Your Business Using AI”

Mark Twain had a lot to say about statistics. He famously said: “there are lies, damned lies, and statistics.” He also said: “facts are stubborn, but statistics are more pliable.” And he said: “data is like garbage. You’d better know what you are going to do with it before you collect it.” With those thoughtsContinueContinue reading “Using Statistics and Where to Find Them”

According to FreshBooks study, 25% of small businesses are already using AI in some form, and 2 out of 3 businesses say they’ll be trying generative AI within the next 12 months. What’s more, 60% say that AI will dramatically change their businesses within the next 5 years. With the growing use of ChatGPT and otherContinueContinue reading “AI Ethics for Your Business”