Blog

Understanding and effectively using credit can be a game-changer for a small business owner. When managed wisely, credit can provide financial confidence to grow your business, expand your operations, and take advantage of new opportunities. Here are some key strategies to make credit work for you as a small business owner.Maintain good credit.Establishing a good credit history is essential for obtaining favorable financing options. Pay your bills on time, keep your credit utilization low, and r

Our financial advisor states as we go through various stages of life, our insurance needs may vary significantly. Here’s a breakdown of the different stages:

Growth investing and value investing are similar yet different financial concepts that motivate investors depending on several factors. These motivations vary from person-to-person based on their personality, upbringing, short—and long-term goals, FOMO (fear of missing out), and financial education. Everybody is different, and investing is a personal journey.Growth investing is a strategy that involves investing in companies that are on the cusp of, or are already experiencing, above-avera

You need a healthy social network to make your small business truly successful. Not only can other small business owners help refer clients and customers your way, provide collaboration, and introduce you to useful contacts, but they can also provide an invaluable sounding board on challenges you may face. Contact our financial advisor today.

As we reach the halfway point of 2024, a sense of persistence defines the economic and market landscape. Trends from late 2023 have continued, with surprisingly resilient economic growth mixed with stubborn but decelerating inflation. Equity markets have thrived and regained all the lost ground from 2022. On the other hand, the bond market still grapples with policy uncertainty and remains range bound for the most part. While it’s tempting to forecast a continuation of these trends, L

For many high-net-worth (HNW) individuals, managing finances and minimizing their tax burden are top priorities. One strategy that often gets overlooked in the pursuit of reducing taxes is life insurance. While life insurance is traditionally thought of as a way to provide independence for loved ones after one's passing, it can also be a valuable tool for tax planning. Contact our financial advisor.

A solid financial plan for small businesses is vital, and part of that financial plan should be insurance. Insurance is essential to preserve small businesses, cover their assets, and safeguard their employees. Here are some types of insurance coverage a small business should have and why this is critical to your financial plan. General Liability An important part of small business insurance coverage is general liability. This policy covers businesses for some property damage claims and bodily

Owning a home and running a business are two significant investments that require dedication, planning, and balancing. Both ventures have potential rewards and risks and demand considerable financial commitment and personal involvement. This article explores the possible impacts of combining business and home ownership and tips to help navigate this complex yet achievable endeavor.Business ownership can offer a sense of accomplishment, a flexible lifestyle, and substantial income if the business

Annuities are a well-kept secret in the small business financing world. Businesses can use these products in various ways, both to meet their own financial goals and to provide retirement benefits to owners and employees. Below, we discuss a few ways annuities can benefit small businesses. What is an Annuity? An annuity is a financial product that provides a steady income stream over a defined period. The person purchasing an annuity will either make one lump-sum payment or regular payments to

Public servants may face unusual challenges and opportunities when it comes to planning for retirement. On the one hand, public service positions usually pay less than the same types of work in the private sector, giving you less money to work with. On the other hand, these positions can come with generous pensions and other helpful benefits that may help shape your retirement. Here are some essential steps to help you draw up a road map for a planned retirement. Understand Your Retirement Benef

529 education savings plans allow families to put away money for their children's education without paying taxes on the earnings, as long as the withdrawals are used for qualified educational expenses and fall within the applicable annual limits. While many people may already have these set up for their children or grandchildren, they also make a great benefit option to offer employees as a way to attract potential employees and keep the loyalty of those you have. If you think a 529 savings

The United States government is the world's largest purchaser of goods and services ensuring small businesses are awarded 23% of federal contracting dollars annually. Here are six tips for procuring government contacts if you are a Veteran Owned Small Business (VOSB) or Service-Disabled Veteran-Owned Small Business (SDVOSB).  First, you want to ensure your business qualifies as a “Veteran Owned Small Business” or “Service-Disabled Veteran-Owned Small Business” fo

Police officers have one of the most stressful—and dangerous—jobs in the United States. As a result, they also have different retirement benefits that may allow full retirement after only a couple of decades of active duty.1 For some officers, relying on the police pension may not be enough to retire comfortably and confidently. Here are four financial planning tips for police officers. Understand Your Pension Police officers may qualify for a defined benefit, commonly called a pens

Growing a business is impressive, but it takes more than just turning a profit to build wealth: It requires a mind shift from short-term gains to long-term prosperity. A business owner must focus on the company's financial confidence and long-term sustainability. Here are some critical tips to help business owners turn their earnings into wealth. Invest in the future of the business. One of business owners' most significant mistakes is exhausting their profits on immediate grat

Just because your military service is up doesn’t mean your benefits disappear. You spent many years of your life serving and protecting your country. With that sacrifice, you can access various benefits created to help you readjust to civilian life and build a future for yourself and your family. Home Loans Former service members, veterans, and surviving spouses, that are eligible, have the opportunity to apply for a VA loan. A VA loan is a government-backed mortgage option made by privat

In golf, as in finances, there are a few rules of thumb that may improve your game: keep a level head, avoid traps, practice before trying something new and stay the course. Applying lessons from the golf course to your financial life and vice versa may help you improve your game in both arenas. Here are three tips that may help you work toward success on and off the golf course.Avoid HazardsGetting bogged down in a sand or water trap may cause frustration and add many strokes to your ultim

Depending on your current health insurance plan, you may have access to either a flexible spending account (FSA) or a health savings account (HSA).Both are tax-advantaged accounts that can help individuals and families save money for qualified medical expenses. However, there are several key differences between the two—here’s a closer look at what you need to know. EligibilityOne of the biggest areas where an HSA and an FSA differ is in eligibility. To qualify for an HSA, you mu

Money worries may be one of the biggest sources of stress—from wondering how to pay for an unexpected expense to making retirement calculations when considering leaving a job. In the midst of inflation, war, and stock market volatility, it may be tough to maintain a level head. What might a financial professional do to help you navigate money stress? Here are a few things a financial professional may do to possibly decrease your stress.PrioritizeSome expenses and financial challenges are w

Spring is a great in-between time of year to take stock of your financial health and to create goals for the rest of the year—or to plan for the years ahead.

Many companies are pushing for a more diverse workforce with employees from all walks of life and ages. Greater diversity helps foster creativity and collaboration, which are essential to helping a company grow. For younger workers, it also allows them to learn more from those who have worked longer and are more experienced. Read on for a few tips that older co-workers can teach those younger or at least less experienced.

With the introduction of the Affordable Care Act (ACA), many changes have occurred in the American healthcare system. One impacted sector is small businesses, which face numerous complexities and opportunities regarding health insurance coverage for their employees.

The importance of building credit can’t be overstated. Here are a few strategies to consider to help build it:

Auto insurance, although not required in all states, generally covers cars and people against more than just accidents. Read tips from a financial professional to see how you can save and stay covered!

As a business owner, you may assume you do not need professional financial advice until you hit certain milestones such as $1 million in sales, having ten employees, or some other tangible measure. However, financial professionals may benefit small-business owners no matter what the stage of their business.

You started a business, took the initial steps to build a foundation, and are now working to grow and expand your customer base. What are the next steps to take? Here are five suggestions from a financial advisor.

Starting a new business is no small feat. It involves several of steps, from the early planning stages to filling out the necessary legal documents. Here are 10 steps from a financial advisor to consider when starting a new business.

Wealth transfer is more than just a financial transaction; it's an opportunity for families to pass on their values, wisdom, and a legacy of love. Navigating this process requires careful consideration, open communication, and a shared commitment to preserving family unity. Here are ten essential questions to ask, as recommended from a financial advisor.

Feeling stressed about tax season approaching? We are your Tax Planning HQ. Read our 2023-2024 Tax Guide here for valuable information about this year's tax season from our financial advisor!

When you think of identity theft, you may think of unauthorized credit card payments or new lines of credit. However, tax identity theft is one of the most common types of identity theft — and it’s also the most common fraud attempt during tax filing season. Here are tips from a financial advisor on how to avoid it.

The new year is fast approaching, and it is the perfect time to set up resolutions for your business. Whether you want to increase your sales, gather a more extensive customer base, or just accomplish needed business improvements, below are a few goals from a financial advisor to help you get started.

When it comes to financial bad habits, the most common are well known. But what happens once you’ve implemented this advice and still aren’t getting ahead? Here are five financial bad habits to look at, as told by a financial advisor.

A Turning Point provides insight and analysis into next year’s opportunities and. We understand that making progress toward financial goals requires a strong plan. This report, combined with guidance from a financial advisor, will help position investors for 2024.

Have you updated and reviewed your estate plan to stay aligned with your long-term financial goals? Here is an eight-step year-end estate planning checklist to help you organize and prioritize your estate planning strategy.

Do you want to feel prepared going into 2024? Download our year-end financial checklist today. Remember, please reach out if there is anything our financial advisor can do to help you with your financial plan! Download our checklist here: 

Are you a business owner with a tax plan? At CarriageGate Wealth Management, we can help you implement the perfect tax plan for your business. Read more on why you should understand the self-employment tax and also be aware of certain tax planning opportunities.