Do you know how to start your own business? Small business consultant David Lucier explains three important steps when starting a business. 1. Pre Business Planning It’s exciting all the planning that goes into a business, but what you do at this stage goes a long way. Many new business fail because the owner is a skilled producer but not a good business person. Read books and learn from others …Read More

Top 10 Books Every Small Business Owners Should Read Running your own business is not easy and there is a lot to know and understand. Here are my recommendations for top 10 books that small business owners should read. 1. Anatomy of a Business: The Step By Step Guide to Building a Business and Securing Your Company’s Future. 2. The E-Myth Revisited: Why Small Businesses Don’t Work and What to …Read More

From Lucier CPA, Inc. the following is a summary of some of the more significant changes under the new tax law that may affect your business. Highlights of the TCJA include: (1) an increase in amounts that may be expensed under bonus deprecation and Section 179; (2) a 21 percent flat corporate tax rate; (3) a new business deduction for sole proprietorships and pass-through entities; and (4) the elimination of …Read More

The Business Plan: Creating The Map To Your Success Part 1 David Lucier gives his business plan advice. Lucier CPA, Inc. 1308 Atwood Ave, Johnston, RI 02919 (401) 946-1900 A business plan is a formal document which describes your RI small business, details the goals of the business, and describes how those goals will be attained as well as the risk factors that may present problems. There are a number …Read More

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 …Read More

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

How to make relationships work while owning a small busniess. From RI CPA expert David Lucier’s book Six Steps to Small Business Success. When you have a small business you enjoy, it is so easy for the business to consume your life. So before you address the systems you need to run your business, you first need to coordinate life and business. This chapter is about how to make sure you …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 …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) …Read More