{"id":225240,"date":"2023-03-14T15:04:47","date_gmt":"2023-03-14T15:04:47","guid":{"rendered":"https:\/\/www.markperlbergcpa.com\/my-atlanta-small-business-health-quiz-part-2\/"},"modified":"2023-03-14T15:04:47","modified_gmt":"2023-03-14T15:04:47","slug":"my-atlanta-small-business-health-quiz-part-2","status":"publish","type":"post","link":"https:\/\/prosperlcpa.com\/blog\/2023\/03\/my-atlanta-small-business-health-quiz-part-2\/","title":{"rendered":"My Atlanta Small Business Health Quiz (Part 2)"},"content":{"rendered":"<div class=\"pme-content\">\n<p>Last week, I began asking you a series of questions about your business. Hopefully those have had some time to percolate in the business-owner-guru-strategist side of your brain. I&#8217;d like you to thoughtfully consider the new questions I&#8217;m raising today. Please do consider these six issues as you work through growing your Atlanta business \u2014 they can catch you off guard sometimes.<\/p>\n<p>And even if I\u2019m at my busiest, I can promise that we&#8217;ll look at these issues together when we meet and<i>&nbsp;<\/i><u>bring solutions<\/u><i>.<\/i><\/p>\n<p>While some of these questions involve areas which I and my Atlanta firm do not handle, I will gladly recommend someone who can assist you with those items as needed (and do it well).<\/p>\n<p>So, here are the final 3 (with last week&#8217;s questions listed as summaries only).<\/p>\n<p><span class=\"text-huge\"><strong>My Atlanta Small Business Health Quiz (Part 2)<\/strong><\/span><br \/><span class=\"text-small\"><i>&#8220;The question isn&#8217;t who is going to let me, it&#8217;s who is going to stop me.\u201d &#8211; Ayn Rand<\/i><\/span><\/p>\n<p><span style=\"font-family:Georgia, serif;\">Even if &#8220;business is good&#8221; right now, part of our role is to help point out potential potholes along the future path for our&nbsp;Atlanta business-owner clients.&nbsp;<\/span><\/p>\n<p><span style=\"font-family:Georgia, serif;\">That\u2019s why I&#8217;m here to raise some questions for you.&nbsp;<\/span><\/p>\n<p><span style=\"font-family:Georgia, serif;\">If you take them seriously &#8230; It can be a transformative process for your business.<\/span><\/p>\n<p><span style=\"font-family:Georgia, serif;\"><i>A quick summary of Part 1\u2019s questions &#8230;<\/i><\/span><\/p>\n<p><span style=\"font-family:Georgia, serif;\"><strong>#1: Is the value of your business firmly established?&nbsp;<\/strong><\/span><br \/><span style=\"font-family:Georgia, serif;\">(Think buy\/sell agreements)<\/span><br \/><span style=\"font-family:Georgia, serif;\"><strong>#2: Is there an emergency plan?&nbsp;<\/strong><\/span><br \/><span style=\"font-family:Georgia, serif;\">(Ex: Will &amp; asset protection strategy)<\/span><br \/><span style=\"font-family:Georgia, serif;\"><strong>#3: What happens next?&nbsp;<\/strong><\/span><br \/><span style=\"font-family:Georgia, serif;\">(Business succession plan, and more)<\/span><\/p>\n<p><span style=\"font-family:Georgia, serif;\"><i>Now to this week\u2019s questions \u2026<\/i><\/span><\/p>\n<p><span style=\"font-family:Georgia, serif;\"><strong>Perlberg&#8217;s Small Business Health Quiz (Numero Dos)<\/strong><\/span><\/p>\n<p><span style=\"font-family:Georgia, serif;\"><strong><u>#4: What are your retirement plans?<\/u><\/strong><\/span><br \/><span style=\"font-family:Georgia, serif;\">The exit plan and what you\u2019ll do after should have space at the forefront of your mind, because that process takes some finagling. Ask yourself:<\/span><\/p>\n<ul>\n<li><span style=\"font-family:Georgia, serif;\">Do I know how much income I will <i>actually<\/i> need at retirement?<\/span><\/li>\n<li><span style=\"font-family:Georgia, serif;\">How much control in the business must I maintain to secure my retirement income?<\/span><\/li>\n<li><span style=\"font-family:Georgia, serif;\">Have I looked into financing options for key employees to buy me out?<\/span><\/li>\n<li><span style=\"font-family:Georgia, serif;\">Do I want to be running my business, full-time, five years from now?<\/span><\/li>\n<li><span style=\"font-family:Georgia, serif;\">Do I have contribution protection for my retirement if I were to become disabled?<\/span><\/li>\n<li><span style=\"font-family:Georgia, serif;\">Do I have an exit plan for my business \u2014 and is it written down?<\/span><\/li>\n<\/ul>\n<p><span style=\"font-family:Georgia, serif;\">Too many business owners view their business as their &#8220;retirement cash cow&#8221; &#8230; but have not made serious plans for how it can BE that cash cow.<\/span><\/p>\n<p><span style=\"font-family:Georgia, serif;\"><strong><u>#5: Are all of your eggs in one basket?<\/u><\/strong><\/span><br \/><span style=\"font-family:Georgia, serif;\">When it comes to your assets, there are questions you\u2019ll want to consider, like \u2026<\/span><\/p>\n<ul>\n<li><span style=\"font-family:Georgia, serif;\">Do I have reliable investments, other than my business?<\/span><\/li>\n<li><span style=\"font-family:Georgia, serif;\">Will my business assets account for less than 25% of my retirement plans?<\/span><\/li>\n<li><span style=\"font-family:Georgia, serif;\">In the past year, have I spent more than one hour planning my retirement?<\/span><\/li>\n<\/ul>\n<p><span style=\"font-family:Georgia, serif;\">If you haven&#8217;t diversified your retirement income outside of your business, you could be in trouble.<\/span><\/p>\n<p><span style=\"font-family:Georgia, serif;\"><strong><u>#6: Is there a REAL tax strategy?<\/u><\/strong><\/span><br \/><span style=\"font-family:Georgia, serif;\">While taxes aren\u2019t what I do, I DO know that you want to consider these questions \u2026<\/span><\/p>\n<ul>\n<li><span style=\"font-family:Georgia, serif;\">Am I <u>proactively<\/u> planning to deal with tax law changes?<\/span><\/li>\n<li><span style=\"font-family:Georgia, serif;\">Have I determined my financial goals \u2014 and how taxes will affect them?<\/span><\/li>\n<li><span style=\"font-family:Georgia, serif;\">Will I maximize my tax-free earnings in retirement (and before retirement)?<\/span><\/li>\n<\/ul>\n<p><span style=\"font-family:Georgia, serif;\">Again, all of these issues always seem &#8220;procrastinate-able&#8221; on the front end &#8230; but <i>if you don&#8217;t have a good answer to more than a couple of the above questions, you might be cruising for a financial bruising.&nbsp;<\/i><\/span><\/p>\n<p>&nbsp;<\/p>\n<p>While you\u2019re thinking through these things, we can help you repair the potholes on the road ahead. As always, my dream is to see your business set up to be the healthiest version of itself that it can be.<\/p>\n<p style=\"margin-left:0cm;\">In your corner,<\/p>\n<p style=\"margin-left:0cm;\"><strong>Mark Perlberg<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<\/div>\n<style>.pme-content {\n\tfont-size: 1.2em\n}<\/p>\n<p>.text-tiny {\n\tfont-size: .7em\n}<\/p>\n<p>.text-small {\n\tfont-size: .85em\n}<\/p>\n<p>.text-big {\n\tfont-size: 1.4em\n}<\/p>\n<p>.text-huge {\n\tfont-size: 1.8em\n}<\/p>\n<p>.marker-yellow {\n\tbackground-color: #fdfd77\n}<\/p>\n<p>.marker-green {\n\tbackground-color: #63f963\n}<\/p>\n<p>.marker-pink {\n\tbackground-color: #fc7999\n}<\/p>\n<p>.marker-blue {\n\tbackground-color: #72cdfd\n}<\/p>\n<p>.pen-red {\n\tcolor: #e91313\n}<\/p>\n<p>.pen-green,\n.pen-red {\n\tbackground-color: transparent\n}<\/p>\n<p>.pen-green {\n\tcolor: #180\n}<\/p>\n<p>.pme-content blockquote {\n\toverflow: hidden;\n\tpadding-right: 1.5em;\n\tpadding-left: 1.5em;\n\tmargin-left: 0;\n\tfont-style: italic;\n\tborder-left: 5px solid #ccc\n}<\/p>\n<p>.pme-content .image img {\n\tdisplay: block;\n\tmargin: 0 auto;\n\tmax-width: 100%\n}<\/p>\n<p>figure.image {\n    text-align: center;\n}<\/p>\n<p>.pme-content figcaption {\n\tcolor: #333;\n\tbackground-color: #f7f7f7;\n\tpadding: .6em;\n\tfont-size: .75em;\n\toutline-offset: -1px\n}<\/p>\n<p>.pme-content .image-style-align-left {\n\tfloat: left\n}\n.pme-content .image-style-align-right {\n\tfloat: right\n}\n.pme-content .image-style-align-center,\n.pme-content .image-style-align-left,\n.pme-content .image-style-align-right,\n.pme-content .image-style-side {\n\tmax-width: 50%\n}<\/p>\n<p>.pme-content .image {\n\tposition: relative;\n\toverflow: hidden;\n\tclear: both;\n\ttext-align: center\n}<\/style>\n","protected":false},"excerpt":{"rendered":"<p>Last week, I began asking you a series of questions about your business. Hopefully those have had some time to percolate in the business-owner-guru-strategist side of your brain. I&#8217;d like you to thoughtfully consider the new questions I&#8217;m raising today. Please do consider these six issues as you work through growing your Atlanta business \u2014 they can catch you off guard sometimes. And even if I\u2019m at my busiest, I&#8230; <a class=\"more-link\" href=\"https:\/\/prosperlcpa.com\/blog\/2023\/03\/my-atlanta-small-business-health-quiz-part-2\/\">Read More<a><\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[],"tags":[],"class_list":{"0":"post-225240","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"entry"},"_links":{"self":[{"href":"https:\/\/prosperlcpa.com\/blog\/wp-json\/wp\/v2\/posts\/225240","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prosperlcpa.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prosperlcpa.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prosperlcpa.com\/blog\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/prosperlcpa.com\/blog\/wp-json\/wp\/v2\/comments?post=225240"}],"version-history":[{"count":0,"href":"https:\/\/prosperlcpa.com\/blog\/wp-json\/wp\/v2\/posts\/225240\/revisions"}],"wp:attachment":[{"href":"https:\/\/prosperlcpa.com\/blog\/wp-json\/wp\/v2\/media?parent=225240"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prosperlcpa.com\/blog\/wp-json\/wp\/v2\/categories?post=225240"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prosperlcpa.com\/blog\/wp-json\/wp\/v2\/tags?post=225240"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}