ENTREPRENEUR INSIGHTS

GREAT IDEAS FOR ENTREPRENEURS FROM THE THOUGHT LEADERS AT CASEY NEILON

4 REASONS TO STAY CLOSE WITH YOUR TAX ADVISOR

4 REASONS TO TALK WITH YOUR TAX ADVISOR ALL YEAR LONG

Close communications with your tax professionals are super important throughout the year. As you have key milestones in your life, keep us looped in. We need to know for your tax planning but we are also an extended part of your family, so we want to send good wishes!

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WORK ON YOUR BUSINESS, NOT IN YOUR BUSINESS

A number of small businesses are started by people who have worked hard and have a great understanding of the field they are in. These are people who have mastered the art of their trade and are ready to branch out and start their own business instead of working for someone else.

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HOW COVID-19, THE STIMULUS PACKAGE, AND THE CARES ACT EFFECT YOUR BUSINESS AND FINANCES

Keep up-to-date on what actions are being taken in Washington, D.C. to help all of us financially through COVID-19 pandemic.

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MAKING SENSE OUT OF BUSINESS DURING THE COVID-19 PANDEMIC

THREE MAIN AREAS THAT WE SEE AS IMPORTANT

Like all other businesses in Nevada (and most of the country) we have had to adjust how we do things here at Casey Neilon, Inc. (CN) due to the Coronavirus outbreak. Here are the three main areas that we see as important to our firm, and the continuity plan we have enacted to overcome the challenges.

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HOW THE RECENTLY ENACTED SECURE ACT WILL IMPACT YOUR RETIREMENT

Tax Changes Impact Everyone

Tax Changes impact everyone.

Congress recently passed—and the President signed into law—the SECURE Act, landmark legislation that may affect how you plan for your retirement. Many of the provisions go into effect in 2020, which means now is the time to consider how these new rules may affect your tax and retirement-planning situation.

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Lucas Gonzalez

Casey Neilon, Inc. is pleased to announce the continued growth of our firm with the promotion of Lucas Gonzalez, CPA to Shareholder effective January 1, 2020.

Lucas began his accounting career with our firm in 2013.  He provides business and tax consulting for small to medium sized businesses and individuals with a focus on clients in the construction and real estate industries.  Additionally, Lucas serves as a trusted advisor to family office clients who have complex and multigenerational financial situations.

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Servant leadership sounds good, probably something we feel we should do (like exercising, eating right and going to the dentist).  But I find that most entrepreneurs struggle with three questions.  What is servant leadership?  Why should I do it?  How do I do it?  In this article I want to build the business case for why entrepreneurs should adopt a servant leader mindset and provide some practical steps to help you get started.

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to grow their businesses.  But when I ask them how they plan to do this, I hear a variety of strategies.  Some of these ideas are within their control while others might be outside their control.  This is why I’d like to put forward a strategy that is completely within your control that I believe can have a meaningful impact on your growth — coaching.  We’ve implemented it at our firm and it has made a real difference.  If you’d like to understand how coaching can help your business, here are some ideas to consider.

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One of the best parts of my job as a COO is seeing a plan come together.  Vincent van Gogh once wrote that “Great things are done by a series of small things brought together.”  I think of these moments as breakthroughs.  What I’ve discovered over the years is that real advancements seem to come from some great new pieces of technology.  But, to realize these breakthroughs, we have to be actively looking for and vetting the best technology stacks in the best way.  I believe entrepreneurs who want to accelerate past obstacles should consistently seek out new technologies.  Here are five simple strategies to help you do so.

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When I say the word “taxes” what image pops up in your mind?  Whatever it is today, I wish I could get entrepreneurs to have a different picture in mind.  In my ideal world, “taxes” would be an ongoing dialogue between an entrepreneur and a CPA that they deeply trust.  There would be a year-round relationship where a CPA is never playing catch up on an entrepreneur’s situation, goals and dreams.  Instead, the CPA is an active partner in helping mitigate taxes to make those dreams come true.  If you’d like to foster this type of relationship, here are five questions to put at the center of the conversation with your CPA.

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I’ve worked with numerous clients over the years who started their business with great passion and had success up to a point.  Then it seems like they hit a plateau.  There are all sorts of situations that cause entrepreneurs arrive at plateaus.  But there is only one practical solution I’ve seen that can get them growing again: strategic planning.  If you or someone you care about feels like you’re just spinning on a wheel, here are six benefits that strategic planning could produce for you.

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A while back, my wife and I became part owners in a local coffee shop.  I’m glad I did this because these experiences have taught me a lot about what early-stage entrepreneurs face.  While I have degrees in accounting and have been serving entrepreneurs for a while now, it’s my experience of actually being in a growing business that has given me a new-found respect for what start-ups deal with.  After reflecting on these experiences, I’d like to share my sense of the top ten challenges for boot-strap entrepreneurs and some ideas to address these challenges.

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Serial entrepreneurs love to start and grow companies, up to a certain point.  But then they often lose interest and go looking for some new exciting business opportunity.  Many times, the businesses they’ve already started are just beginning to thrive as the entrepreneur’s interest wanes.  But the future of those companies is far from certain.  The risk to serial entrepreneurs is that they’ll put their family’s long-term financial health at-risk if they start a new business before their current businesses are ready to thrive without their full attention.  If you’re thinking about starting a new business, even though you already have one or more businesses, I recommend that you do these seven things first.

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Over the last few years, I’ve had the privilege of working with SMB (small-to-medium business) contractors.  Many of these companies are family businesses where a founder established and grew the business.  Most of these companies have been around for at least a decade and have provided a good income and even a sense of identity to the family.  But sometimes, an independent valuation of the business shocks the owners with a sense of disbelief.  If you or someone you care about has faced this situation, here are five strategies that can really help you.

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Attracting new talent is challenging for everyone, it seems.  In the past, organizations relied on referral networks, job boards, recruiters or even word of mouth.  But in today’s hyper-competitive climate, many of these strategies no longer work to the satisfaction of the entrepreneurs we serve.  So, what does work?  Over the last couple of years, we have been implementing some strategies that are really paying off for us.  Let me share, for your consideration, seven principles that could really help you compete and win in today’s job market.

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Over the last several years I’ve had the privilege of working with numerous entrepreneurs on their estate plans.  While no one wants to think about their demise, entrepreneurs often have complex financial lives and sorting through the details and making decisions requires a lot of time and energy.  If there is one thing I’ve learned, it’s that putting things off to a future date only makes the situation more challenging later.  If you need an estate plan, or if you need to update your old estate plan, here are my top 5 considerations to help you build a plan that realizes your dreams.

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I love working with SMB contractors and real estate investors.  These fiercely independent entrepreneurs take great pride in not relying on traditional financing solutions and bootstrapping their own ventures.  They possess a strong work-ethic, are family-oriented and chart their own course in life.  Most of them are self-made.  But this independent mindset is both a strength and a weakness.  I find that SMB contractors and real estate investors often do not seek advice when they should.  The result is that they usually end up paying far more in taxes than they had to.  The solution to this problem is active tax planning.  I’d like to share with you 5 reasons SMB contractors and real estate investors really need active tax planning and how this strengthens their family’s financial standing.

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Over the years we’ve helped several clients vet the formation of off-shore business partnerships.  These business relationships allow our clients to achieve scale, move up-market and do work that is often not available to be done in the US or that can only be done at a financial loss.  However, these relationships can be tricky to form.  After reflecting on the situations I’ve seen our clients encounter and even our own experiences, I’d like to put forward five questions that I think will help you assess your situation.

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Over the last few years of working with entrepreneurs, something has become quite clear to me.  Our clients need more than just great tax advice, tax strategies and clean tax returns.  If we help our clients save thousands of dollars on taxes but that money does not improve their overall financial standing, what have we really accomplished?   The people we are so fortunate to serve are passionate and hard-working.  They have big dreams, both for their business and their loved ones.  It takes money to make those dreams come true.  It takes a great financial plan.

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I began my career in public accounting 55 years ago.  Over that period of time, I’ve served thousands of clients, many of whom are entrepreneurs.  As I reflect on the last 50+ years, I have begun to crystalize, in my own mind, what the entrepreneur of the future will need from their CPA.  When I look ahead to the next 50 years, based on how much things have changed over my career, I believe entrepreneurs should look for these five traits from their CPA.

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Entrepreneurs know that the US economy goes through cycles. Things have been steadily improving since early 2010. Are we entering a down-cycle? I cannot predict the future and don’t believe that anyone can. But after many years of working with and for entrepreneurs, I have come to believe that you can survive a downturn and potentially even thrive through it or rebound quickly after it ends. Here are 5 key strategies to help you do this.

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Recently I’ve been working with growth-oriented entrepreneurs who are trying to make an important decision.  They are grappling with the need to grow, but are unsure whether to buy a business or to invest in their current business.  This decision could be make-or-break for them so it’s important to get it right.

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