I didn’t know what I needed to know before opening my own business. I knew nothing about starting a small business. Luckily, the economy was great in 1996, and my niche was referral selling (still is), so I at least knew how to sell. My company took off quickly—almost too quickly. Why? I didn’t have…
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In the world of business, regulatory compliance is no stranger to most companies. However, the Corporate Transparency Act (CTA) has introduced new rules that may catch many small businesses off guard. To be honest, we should all be prepared for this, as the CTA was passed in 2021 and fully coming into effect now. Due…
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Businesses must constantly seek ways to drive innovation and reduce costs, and this is especially true across the agriculture industry. One powerful yet often overlooked tool is the Research and Development (R&D) tax credit. Designed to foster innovation and support research investment, R&D tax credits offer significant financial relief by reducing both federal and state…
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As a follow-up to our article “Benchmarking in the Wine Industry,” we wanted to share some key business management ratios with you. Business management ratios are essential for management or owners to evaluate a company’s financial health and operational efficiency. Ratios can distill activity to a single number, providing a point-in-time insight or multiple periods…
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Do winery owners know if their winery is actually performing well? Possibly not. There is a good chance they have a general sense of how their business is doing, but do they know how they are doing compared to their peers or the standard you would expect from a winery? Innovint’s recent outreach to its…
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Estate planning is crucial for managing and distributing your assets according to your wishes. However, many Americans procrastinate on setting up an estate plan, often due to discomfort or misconceptions about the process. Without a living trust, your assets may undergo probate—a costly and time-consuming procedure. Including a professional fiduciary in your estate plan can…
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