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There is no question that anyone who is looking to grow their business needs access to working capital, this is especially true for small businesses. Traditionally banks were the first the first place to turn to when considering a loan. They provided the lowest cost loans in the market however the process can be long and tedious .

Rollovers as Business Start-Ups (ROBS) are financing mechanisms in which current or prospective business owners use their 401(k), IRA or other retirement funds to pay for new business start-up costs, for business acquisition costs or to refinance an existing business.

Although the official tax filing date has passed us by, the subject matter of this blog is still relevant because many taxpayers have filed extensions and have a number of months before the extended filing date is final.

Now that you’ve closed on your purchase of a business, what are you going to do? Sit back and watch? Closely managing the transition from the former business to your new business is the recommended task at hand.

However, managing the transition presents a number of challenges.

On many occasions, I’ve seen entrepreneurs embark on operating a family-owned business and thinking that it’s going to be easy to be successful or that there won’t be any of the problems typically encountered in an non-family scenario.

In many cases, however, these assumptions rarely turn out to be the case.

A Health Savings Account (HAS) is a mechanism for saving money that is specifically earmarked for paying one’s medical expenses.

These accounts work similarly to other savings plans in the sense that pre-tax contributions are made that grow tax-free, and tax-free distributions are eventually made that are spent for qualified medical expenses.

The core problem for every entrepreneur and small business starting out is the same.

They need cash.

That holds true whether it’s a brand new business who needs cash to realize a great idea or a company who just needs to gain a competitive advantage and achieve growth.

With so many possible deductions and credits available to the individual taxpayer it’s no surprise that the possibilities can get easily lost in the shuffle.

One of my favorite sayings is “the only constant is change.” This saying certainly holds true in the business realm where it seems that the mandate is also “growth and go.”

Experience seems to show that upon the purchase of a business the new owner needs to roll-up his or her sleeves and really get to work.