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Making A Partnership Last Part 2

Brought to you by the RI small business experts – Lucier CPA, Inc. All partnerships should start with a partnership agreement. The partnership agreement can be made up of a number of separately described agreements. For example, the partnership agreement might include how the company will be funded and what each partner will be investing. It most often includes a general statement about the type of business the partnership will …Read More

Making A Partnership Last Part 1

Making A Partnership for Rhode Island Small Businesses By Lucier CPA, Inc. The dedication of each owner to a shared vision in a Rhode Island Small Businesses, is the first step in starting a successful partnership. Each owner might have a different personal goal, but the company goals and direction should be consistent to take the best advantage of opportunities. As a team, owners are combining forces to react more …Read More

Self­ Evaluation for Small ­Business Success

You’ve made it through the seven criteria and have selected a business that looks like a good opportunity. Congratulations! Now it’s time to evaluate your skills, risk tolerance, and commitment. Doing a self­ evaluation is a critical step in deciding if you should start a business. To really be successful in starting a new business, you must take a close look at what it is going to take and determine …Read More

Pros and Cons of 401(k) Plan

FLYING SOLO with a 401(k) Plan An individual (also known as a solo or one-participant) 401(k) plan may be a suitable choice if you are self-employed or own a small business with no employees (other than your spouse) and want to establish a tax-favored retirement plan. Below are some pros and cons associated with an individual 401(k) plan. GENEROUS CONTRIBUTION LIMITS An individual 401(k) plan allows you to defer up …Read More