Do You Know How to Stay Wealthy?

Most wealthy people work tirelessly to obtain their wealth and then continue to practice the same principles to maintain that wealth. However, achieving wealth and maintaining wealth over the long haul are two entirely different things. Therefore, it’s important to have the right advance plan in place if you wish to hold onto the wealth that you’ve worked so hard to obtain.

So what kinds of measures should you take to keep your wealth? The simple answer is that it takes some careful planning ahead. Advance planning often takes the skilled help of an experienced accounting and wealth management firm. That’s because in order to effectively hold onto your wealth you need to utilize every necessary and legal measure it takes, including tax planning and financial planning.

There are three major components to effectively protecting your wealth. They include asset protection planning, wealth enhancement and estate planning. All three of these factors are important elements to advance planning and protecting your wealth. Asset protection planning means you take the necessary steps and planning to protect your wealth from being taken. Wealth enhancement consists of effectively planning and strategizing in order to keep your taxes to a minimum, and thus keeping more of your wealth to yourself.

Finally, estate planning is using legal measures to ensure that your assets and your loved ones are taken care of after you die. At GROCO, we can assist you with all of these kinds of advance planning tactics. Click here to learn more or give us a call at 1-877-CPA-2006.

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Employee Ownership Update

Employee Ownership The following article appeared in the New York Times on May 21, 2006 and is one of the best articles about employee ownership that I have seen. It illustrates a few great examples of how employee ownership has helped companies achieve extraordinary success. These Workers Act Like Owners (Because They Are) By William…

FAMILY LIMITED

Family Limited

This FLP Alert is directed at clients and their advisors who have already established Family Limited Partnership irs (“FLP’s”) and those clients who are considering a partnership as part of their estate plan. With all the attacks the IRS has made on FLP’s over the past few years, culminating at the Strangi III decision in…

The True Value of Your Company May Be Different From What You Think

The True Value of Your Company May Be Different From What You Think

The True Value of Your Company May Be Different From What You Think Approaches to Value Intangible Assets Posted: 3/31/11 I’ve received a lot of inquires asking how to value a company that has yet to generate any revenue, has not reached profitability, and yet, it has a substantial history of expenses. Most are start-up…

To receive our free newsletter, contact us here. Subscribe our YouTube Channel for more updates. Alan Olsen, CPA Alan Olsen, is the Host of the American Dreams Show and the Managing Partner of GROCO.com. GROCO is a premier family office and tax advisory firm located in the San Francisco Bay area serving clients all over the world. Alan L. Olsen, CPA, Wikipedia Bio GROCO.com is a proud sponsor of The American Dreams Show. American-Dreams-Show-Accounting-firm-in-ca-cpa-tax-advisors-groco-alan-olsen The American Dreams show was the brainchild of Alan Olsen, CPA, MBA. It was originally created to fill a specific need; often inexperienced entrepreneurs lacked basic information about raising capital and how to successfully start a business. Alan sincerely wanted to respond to the many requests from aspiring entrepreneurs asking for the information and introductions they needed. But he had to find a way to help in which his venture capital clients and friends would not mind. The American Dreams show became the solution, first as a radio show and now with YouTube videos as well. Always respectful of interview guest’s time, he’s able to give access to individuals information and inspiration previously inaccessible to the first-time entrepreneurs who need it most. They can listen to venture capitalists and successful business people explain first-hand, how they got to where they are, how to start a company, how to overcome challenges, how they see the future evolving, opportunities, work-life balance and so much more.. American Dreams discusses many topics from some of the world’s most successful individuals about their secrets to life’s success. Topics from guest have included: Creating purpose in life / Building a foundation for their life / Solving problems / Finding fulfillment through philanthropy and service / Becoming self-reliant / Enhancing effective leadership / Balancing family and work… Untitled_Artwork copy 4 MyPaths.com (Also sponsored by GROCO) provides free access to content and world-class entrepreneurs, influencers and thought leaders’ personal success stories. To help you find your path in life to true, sustainable success & happiness. It’s mission statement: In an increasingly complex and difficult world, we hope to help you find your personal path in life and build a strong foundation by learning how others found success and happiness. True and sustainable success and happiness are different for each one of us but possible, often despite significant challenges. Our mission at MyPaths.com is to provide resources and firsthand accounts of how others found their paths in life, so you can do the same.

Does Your Business Need a Buy-Sell Agreement?

Does Your Business Need a Buy-Sell Agreement? What Is Buy-Sell Agreement? Buy-Sell Agreement, also known as a buyout agreement, give the company or other stockholders the option or obligation to purchase the interests of other owners under some specified circumstances called trigger events such as death, departure, or retirement, etc. There are two basic types…