"What do you need to start a business? Three simple things: know your product better than anyone. Know your customer, and have a burning desire to succeed." -- Dave Thomas
At Legacy Wealth Management, we believe small businesses are paramount to a small town like Charleston. You are the lifeblood of our community, driving job creation and offering our small town with fresh, innovative ideas and solutions.
As a small business owner, we know you’ve got a lot on your plate, between working long hours and ensuring the viability of your business, all while handling an incredible amount of tasks of your own. There can be a constant pressure to perform at the top of your game at all times, in every area of your business. We want to make you feel like an expert in each of these.
For this reason, I would love to partner with you in order to take some of the endless tasks off your plate. We know that as a small business owner you are always delivering more than expected. We want to provide that service for you as well. By working closely with our sister CPA firm, we will provide you with seamless financial advisory services including; tax planning, cash flow management, retirement planning, bookkeeping, as well as other financial needs
What this means for you is less time coordinating and waiting on communications between two or more financial professionals, and less time sorting through conflicting advice.
If you need help with any of the following items, our firm is here to make your life easier. We help you:
In Charleston, we’re a community that takes care of each other. By collaborating with us to manage your finances, you’ll gain invaluable time that can be better spent on necessary business operations, as well as confidence that your finances are in good hands.
Above all, we partner with our neighbors to invest in our small town and make sure we can keep enjoying the great benefits your small business brings to us. When you do better, we all do better.
As a small business owner, it can be hard to save for retirement when there are so many other aspects of the business to worry about. Too often retirement planning ends up at the bottom of the to-do list.
As the effects of the pandemic continue to be felt around the world, there is a lot of talk about the state of the economy and what it says about our financial future. As a financial advisor and portfolio manager, I focus on the performance of the markets, not necessarily the performance of the economy. They don’t always move in tandem; in fact, there is evidence to suggest that they are hardly correlated at all. Since the value of my clients’ portfolios depend on the performance of the markets, that is where I point most of my attention.
A business vehicle deduction alone can lead to tax savings but, keep in mind, auto depreciation should be factored into your small business plan to maximize the benefits you can receive.
When growing a small business, it’s usually a positive sign when your business has grown enough to be ready to set up a retirement plan. The difficulty can sometimes be in the details, though, trying to figure out whether to go with a 401(k) or a SIMPLE IRA.
When Tom’s truck started showing the check engine light, he didn’t think twice about taking it down to the local dealership to get it looked at. While he was there, he was informed that the vehicle he brought in was going to need $4,500 worth of work, and he was invited to tour the lot for a replacement instead.
Hiring your children to work in your business has many advantages. You will get to spend more time with them and help them prepare for their future by teaching them real-life skills. And, as you have probably already heard, it could help you mitigate your tax burden because their income can be tax-free.