The total IRA market is currently worth about $4.2 trillion. To date, only about 2% of the total IRA market is made of self-directed IRA’s, but that number is increasing in popularity as of late. It is estimated that about $94 billion is currently held in self-directed IRA accounts. There are several advantages of having a self-directed IRA account. Here are some of the benefits explained for your convenience.
Benefit #1. Protect Your Company’s Capital Gains
Using a self-directed IRA account to invest funds into your business carries much less of the risk of using another type of retirement such as a 401(k) or personal retirement savings. There are some rules to follow when investing in your own business, for example you can’t own over a 50% share of the company.
Counting money is not as glamorous as it sounds. Before the invention of currency sorting machines in 1980, bills and coins had to be counting by hand. In order to prevent human error, money counting usually took at least two people and took a considerably long time. In addition, money counters repeated the process two or even three times to make sure they didn’t make a mistake. Needless to say, this process annoyed banks, financial organizations, and governments alike.
However, with modern cash management systems, people can have their money counted in a matter of minutes. These systems use high quality scanners to account for the money and, moreover,
Small business (that is, businesses with 50 employees or less) are often at a disadvantage when it comes to payroll services. More often than not, small business owners are unprepared for processing payroll, and because small businesses may not have enough resources to have its own human resources department, the responsibility is placed squarely on the business owners. There are more than 190 laws pertaining to payroll processing in Canada alone. For businessmen and women with little-to-no experience with calculating wages, filling out tax forms, and keeping track of work times (among other payroll tasks), payroll management can present a serious problem.
It is for this reason that 85% of certified public accountants in the country suggest small businesses should hire payroll processing companies for th