Author: Complete Controller

By: Jennifer Brazer

Jennifer is the author of From Cubicle to Cloud and Founder/CEO of Complete Controller, a pioneering financial services firm that helps entrepreneurs break free of traditional constraints and scale their businesses to new heights.

Fact Checked By: Brittany McMillen

Politically Savvy: Why Understanding Business-Politics Interplay Is Non-Negotiable

“Politics is not a separate realm from business — it’s the engine under the financial hood.”

I learned this lesson during a consulting engagement with a mid-sized tech company. A minor regulatory change coming out of Washington sent ripples through their financial forecasts and upended their product roadmap. That experience cemented my belief that the connection between politics and business is anything but casual and intricately woven. If you’re involved in running or advising a business, you must understand how to untangle this nexus.

This isn’t merely an intellectual exercise; it’s a matter of strategy for profitability. In this article, I’ll guide you through the financial interconnections between business and politics.

Key Takeaways

• Political decisions directly impact your taxes, trade access, and bottom-line strategy.
• Successful businesses actively shape policy through lobbying and public advocacy.
• Global political shifts can crush or create markets overnight—stay prepared.
• Regulatory compliance isn’t just legal protection; it’s a competitive advantage.
• Building alliances with policymakers can lead to favorable financial outcomes.
• In financial crises, collaboration between businesses and governments can prevent collapse.

Understanding the Business-Politics Nexus

Historical context

Political influence on commerce dates back centuries. Consider the Industrial Revolution. Governments funded railways, handed out monopolies, and imposed tariffs to spur growth. In the U.S., landmark changes like the New Deal reshaped entire industries. Political choices have long served as the compass, guiding financial trajectories for companies big and small.

Current trends

The connection between business and politics has never been tighter or more visible. Nowadays, climate regulations, tax reforms, and antitrust cases send shockwaves through corporate boardrooms. The most astute corporate leaders don’t merely react to politics; they anticipate it. Navigating this landscape now begins with assessing the political climate.

Policy Influence on Business Financials

Taxation and regulation

Politicians wield immense power when it comes to taxes. Whether you’re launching a startup or managing a multinational corporation, a single regulation can choke your cash flow or significantly reduce costs.

Key Insight: Businesses that consult a policy expert before entering a new market tend to emerge victorious.

Take this statistic into account: during the 2022 federal election cycle, business interests contributed a staggering $3.5 billion to political campaigns, up from $3.3 billion in the 2018 midterms. That’s not just a figure; it underscores the financial weight that politics carries in your operational strategy.

Trade agreements and tariffs

From NAFTA to the disruptions caused by Brexit and ongoing U.S.-China trade tensions, trade policies are truly the lifeblood of international business. A single tariff can dramatically alter sourcing strategies and narrow profit margins. That isn’t just politics; it’s your supply chain issuing a wake-up call!

Business Lobbying and Advocacy

Effective lobbying strategies

Let’s face it: businesses that sit in silence are waiting for curveballs. Meanwhile, proactive companies are writing their playbooks. Lobbying isn’t about manipulation; it’s about crafting a compelling narrative. The best businesses hire former policymakers to create well-researched pitches, engaging early in legislative processes to offer practical insights.

Ethics of lobbying

Trust matters—a lot. Ethical lobbying incorporates transparency and integrity. It’s not about coercion; it’s about constructive feedback. Businesses should aim for shared goals instead of trying to manipulate outcomes.

Case study: The impact of Brexit on European businesses

When the UK chose to leave the EU, the repercussions were swift and harsh.

• Retailers grappled with shipping disruptions and customs hurdles.
• Manufacturers risked facing immediate tariffs.
• Financial firms scrambled to reposition offices to maintain passporting rights.

Lesson learned: Political events are not mere background noise; they are seismic shifts that businesses must navigate. Companies that ran simulations and established contingency plans triumphed because they remained agile and cash-liquid.

Global Market Implications

International trade impacts

The influence of global politics is undeniable. Sanctions against Russia, tariffs impacting China, and climate treaties ripple through various sectors, shaping the future of entire industries. Remember: your bottom line might hinge on negotiations happening far away.

Financial market reactions

Stock markets operate in rhythm with political sentiment. Decisions regarding interest rate changes, government shutdown threats, and election cycles all impact earnings and consumer confidence. For investors, politics serves as more than just context; it’s a vital signal.

The Role of Strategic Alliances

The most innovative, game-changing solutions often emerge when business and government collaborate.

• During COVID-19, pharmaceutical companies joined forces with government agencies to accelerate vaccine distribution.
• Infrastructure startups have established public-private contracts that modernize transportation systems.

The benefits of these collaborations can be immense: funding, credibility, and expanded market reach. However, navigating the maze of bureaucracy can be a challenge. Handle these alliances judiciously, and they can unlock unprecedented growth.

Tip: If your business operates within healthcare, transportation, or energy, consider establishing a liaison team.

Navigating Regulatory Compliance

Challenges of compliance

Let’s be honest: keeping up with regulations can feel overwhelming. As countries constantly update their laws, businesses that operate cross-border face a whirlwind of tax codes, labor laws, and data practices. Errors can lead to more than just expensive fines; they can fundamentally shake investor trust.

Strategies for compliance

• Implement real-time legal monitoring tools.
• Hire local counsel for every region you operate.
• Train your staff to recognize policy risks early.

Fostering a culture of compliance helps businesses avoid scandals and respond more nimbly to crises. It’s not just paperwork; it’s a strategic advantage.

Crisis Management in Business-Politics Interplay

Managing financial crises

During times of instability—be it a pandemic or geopolitical crisis—having an effective backup plan is no longer enough. Companies today need government ties, visibility into lobbying efforts, and a collaborative mindset with regulators.

Look back at the 2008 financial crisis: banks didn’t save themselves; they worked with the government through negotiations and swift actions to stabilize the economy.

Recovery strategies

What sets resilient companies apart in the post-crisis landscape?

• Diversified Markets: They spread risk across different sectors.
• Cash Reserve Planning: They buffer cash to weather storms.
• Policy Liaisons: They maintain open lines of communication with regulators.

In today’s world, your CFO might just need a lobbyist to fulfill their role effectively.

The Human Element: Trust and Communication

Building trust

People don’t just buy products; they buy confidence in businesses. The same logic applies to relationships with government entities. Whether addressing climate change or improving infrastructure, showing transparency and consistency earns influence.

Communicating effectively

To maintain respect within political dialogues, ensure your communication is clear, direct, and backed by data.

• Use stakeholder-centered language that resonates with your audience.
• Demonstrate impact with relevant numbers.
• Focus on shared goals, making it easy for all parties to find common ground.

Future Outlook and Emerging Trends

What’s worth watching for future financial winners? Here are crucial political trends:

• Tightening ESG Standards: This influences business practices across the U.S. and Europe.
• AI Regulation: This is shaping workforce policies as technology takes off.
• Cryptocurrency Legislation: This is solidifying in Asia and North America, signaling a pivotal shift in finance.
• Cybersecurity Compliance: This is driving substantial investment in IT and operational structure.

If you’re a strategic thinker, none of these shifts should slip under your radar. They are your financial roadmap!

Conclusion: Make Politics Work for Your Business

The relationship between business and politics is inherently structural. It reverberates through your budget, your strategy, and your decision-making processes. Learning how to read, navigate, and even influence this environment is what separates industry leaders from the rest.

Want more insights tailored to CFOs, founders, and financial strategists? Visit Complete Controller — where business and strategy converge.

FAQ

How does politics affect small business financial planning?

Political decisions on taxes and credits directly influence small businesses’ margins and forecasting models.

What are the most influential business lobbies worldwide?

Notable ones include the U.S. Chamber of Commerce, BusinessEurope, and the China Council for the Promotion of International Trade.

Can businesses impact economic policy without lobbying?

Absolutely! Businesses can participate through public comments, industry associations, and constructive communication with regulators.

How do trade policies influence financial decisions in multinational companies?

Trade policies affect sourcing costs, pricing strategies, and investment decisions in foreign markets.

What role does public opinion play in shaping political decisions about business?

Public sentiment can pressure politicians to change regulations, whether to incentivize industries or implement new legislation.

Sources

• Journal of Global Economics. (2022). “The Financial Cost of Political Decisions.” Michael Smith.
• Business & Politics Review. (2021). “Corporate Advocacy and Policy Outcomes.” Tanya Waters.
• OpenSecrets. (January 27, 2023). “Business interests spent $3.5 billion on federal political contributions during the 2022 cycle.” OpenSecrets
• Harvard Business School Online Blog. “Politics and Business.” Harvard Business School Online
• Saylor Academy. “Business and Government Relations.” Saylor Academy
• Business Model Analyst. “Political Factors Affecting Business.” Business Model Analyst
• Complete Controller. “5 Money Management Tips to Help Avoid a Deficit.” Complete Controller
• Complete Controller. “5 Essential Marketing Strategies to Help Grow Your Business.” Complete Controller
• Complete Controller. “Small Business Bookkeeping: 9 Tips and Tricks.” Complete Controller

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

By: Jennifer Brazer

Jennifer is the author of From Cubicle to Cloud and Founder/CEO of Complete Controller, a pioneering financial services firm that helps entrepreneurs break free of traditional constraints and scale their businesses to new heights.

Fact Checked By: Brittany McMillen

Balance Sheet Essentials: A Comprehensive Guide to Understanding Your Financial Health

Think of your business like a finely tuned sports car. The balance sheet? That’s the diagnostic tool that tells you how the engine is running. Too many entrepreneurs barrel down the highway of business growth without ever consulting it—until a warning light pops up, often in the form of a cash crisis. But what if, instead, you regularly checked that dashboard, spotting opportunities and threats early?

As the founder of Complete Controller, I’ve spent over 15 years helping entrepreneurs across industries harness financial data to drive their businesses forward. And let me tell you, no tool is more effective—or more universally misunderstood—than the balance sheet. Together, let’s demystify it so you not only keep the wheels turning but accelerate toward your goals with confidence.

What Is a Balance Sheet?

A balance sheet is your business’s financial snapshot, taken at a precise moment in time. It reveals three critical components:

1. Assets: What you own.
2. Liabilities: What you owe.
3. Equity: What’s left for you, the owner, after paying off debts.

As a business owner, this document is your financial mirror, reflecting your strengths and vulnerabilities. The entire framework operates under the accounting equation:

Assets = Liabilities + Equity

This isn’t just academic—it’s essential. If the equation doesn’t add up, your books aren’t accurate, which could spell disaster come tax season or when you’re trying to secure funding.

For a clearer understanding, check out this accounting equation resource.

The balance sheet layout

A typical balance sheet has three straightforward sections:

1. Assets: Divided into current (short-term) and non-current (long-term) assets.
2. Liabilities: Similar structure—current and non-current.
3. Equity: The owner’s investment and retained earnings.

If you’re using software like QuickBooks or Xero, these sections flow seamlessly into pre-designed templates. Trust me, tools like these are game-changers. A simple click-and-drag beats manually updating spreadsheets any day.

Key Components of a Balance Sheet

To wield the power of the balance sheet effectively, you must understand its building blocks. Here’s how it breaks down.

Assets

Assets are everything your business owns that’s valuable.

• Current Assets: These are liquid or quickly convertible to cash (within a year).
• Examples: Cash in your accounts, accounts receivable (unpaid invoices), and inventory.
• A retail store might count their product stock and cash register balance as current assets.

• Non-Current Assets: These are long-term and less liquid.
• Examples: Buildings, machinery, or intellectual property like trademarks.
• Think of these as the pillars your business stands on.

Liabilities

Liabilities represent debts your business owes to others.

• Current Liabilities: Financial obligations due within 12 months.
• Examples: Utility bills, credit card balances, or a short-term bank loan.
• Picture a bakery using a supplier credit line to stock ingredients—that’s a current liability.

• Non-Current Liabilities: Long-term debt exceeding one year.
• Examples: Equipment loans or bonds issued.
• I’ve worked with manufacturers whose factories run on leased machinery—classic non-current liability.

Equity

Equity is where business ownership meets financial health.

• Share Capital: The money raised by issuing stocks.
• Example: Selling 1,000 shares at $10 each translates into $10,000 in share capital.
• Retained Earnings: Profit reinvested into the company instead of distributing as dividends.
• Example: Using last year’s $50,000 profit to open a second location.

Remember, equity is the key to long-term stability. High equity usually signals less reliance on debt—a safety net in a financial crunch.

How to Read and Analyze Your Balance Sheet

Understanding the accounting equation

Let’s revisit this foundational formula: Assets = Liabilities + Equity.

Every balance sheet must balance—hence the name. If your assets greatly outweigh your liabilities, great! If liabilities exceed assets, it’s like a warning light saying you’re over-leveraged.

Need a deeper dive? The SEC balance sheet guidelines offer a detailed breakdown.

Key balance sheet metrics

Here’s where the numbers get seriously useful. These key metrics help you appraise your business’s financial health:

Current Ratio

• Formula: Current Assets ÷ Current Liabilities
• Ideal Ratio: 2:1 or higher. If your ratio is below 1, you may struggle to pay short-term debts.
• Example: A company with $30,000 in current assets and $15,000 in current liabilities has a current ratio of 2:1—healthy liquidity.

Interested in improving cash flow? Consider mastering the cash conversion cycle for actionable tips.

Debt-to-Equity Ratio

• Formula: Total Liabilities ÷ Total Equity
• Look for a ratio below 1:1 for low reliance on debt.
• Example: A retail startup with liabilities of $160,000 and equity of $640,000 has a debt-to-equity ratio of 0.25—low dependence on debt.

You can find comprehensive details about this ratio on WallStreetMojo’s guide.

Importance of balance sheet analysis

In my experience, regularly analyzing the balance sheet transforms businesses from reactive to strategic. Whether lenders, investors, or even potential buyers, everyone combs through your balance sheet first. If you’re not analyzing it, someone else is—for better or worse.

Real-World Example: Apple, Inc.

Look no further than Apple. In 2022, their balance sheet revealed an unparalleled cash reserve and strong owner equity, enabling aggressive research and development. It’s no coincidence that Apple continues to lead its industry—financial health drives innovation. Need proof? Apple’s annual report is a must-read.

Balance Sheet Essentials for Small Businesses and Startups

Small businesses

Even Mom-and-Pop shops should keep a balance sheet. It forms the foundation to:

• Secure funding from banks.
• Manage cash flow more effectively.
• Make informed, data-driven decisions.

If juggling finances feels overwhelming, start with small business bookkeeping tips.

Startups

Startups face unique challenges, especially when venture capital or convertible notes enter the picture. Properly tracking these on your balance sheet ensures transparency and builds trust with investors.

Get Started with Balance Sheet Templates and Tools

Not sure where to start? Many helpful tools exist for beginners.

• Templates: Download templates from trusted sources or even use Excel’s built-in balance sheet.
• Tools: Cloud-based platforms like QuickBooks simplify balance sheet creation and offer slick, real-time updates.

To get started in QuickBooks, head to the “Reports” tab and instantly generate your balance sheet. It’s that easy.

Conclusion

Your balance sheet isn’t just a piece of paperwork—it’s the key to steering your company toward sustainable growth. As someone who has dedicated her career to improving financial literacy for entrepreneurs, trust me when I say: This one document can unlock so many opportunities.

Analyze it monthly, track your key metrics, and always ensure accurate financial statement accuracy. Ready to take control of your financial destiny? Let my team at Complete Controller help guide your way.

FAQ

What is the primary purpose of a balance sheet?

To provide a snapshot of your business’s financial health at a specific point in time.

How do you analyze a balance sheet?

Start by reviewing assets, liabilities, and equity while focusing on metrics like current and debt-to-equity ratios.

Why are balance sheets important for small businesses?

They help with securing loans, managing cash flow, and making informed decisions for growth.

How is equity calculated?

Equity = Assets – Liabilities.

How often should a balance sheet be updated?

At least quarterly but monthly updates are ideal for active financial management.

Sources

• Washington State Department of Transportation. “Balance Sheet Example.” 2021.
• Patriot Software. “Balance Sheet Ratios.” 2020.
• Bench. “Understanding a Balance Sheet.” 2024.
• Investopedia. “Balance Sheet: Explanation, Components, and Examples.” 2024.
• WallStreetMojo. “Debt To Equity Ratio – What Is It, Formula, Importance.” 2023.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

A financial analyst is an individual who processes and estimates finance-related transactions to identify a business’ performance and capabilities. They ensure that the company is operating correctly and that the business’s liquidity position is stable enough to succeed. They identify the weaknesses of the business to improve them and make the business operations run more smoothly. Creating a cash flow is also the job of an analyst. They make predictions about the business performance. They recommend a possible plan to managers and operators to ensure efficient productivity. Their role is to identify the best marketing techniques suitable for the business. Businesses with franchises hire an analyst to keep a check on them. 

A financial analyst could be a great addition to a small business to hand them over all the financial bookkeeping responsibilities while the owner emphasizes other operations. As an analyst’s job is to make the best out of the economic situation, it could be helpful for the business to determine cost-saving ideas in the expenditure. However, as a small business has limited financial resources and less information, analysts sometimes make mistakes while analyzing a company’s accounts. 

Here are the top five mistakes analysts make.

Drawbacks of Generic Financial Statements

They were using generalized financial statements. The analysts do not spend time creating the financial statements according to a business’s specifications, but they fit their financial information into a generalized template. The analysts merge the categories because of the generalization, which causes them to lose their uniqueness. When the financial statements are presented to the stakeholders, it confuses them because the activities in the business are not presented properly, and some claim that the accounts are dull.

Overlooking the Crucial Link: Cash Flow in Financial Analysis

They were not interpreting the connection between the three significant financial statements. Most of the time, the analysts only use the business’s balance sheet and income statement to identify the company’s financial position. The major problem is that they do not use the most essential message to calculate the performance, the cash flow statement. If the cash flow statement is not involved, then the analysts will not recognize the instabilities caused in the business. This failure sometimes results in mismatched calculations, which means that the numbers calculated through the balance sheet will differ from operating cash flows. 

Syncing Financial Statements 

They are not creating financial statements at similar time frames. A balance sheet is consistently reported in the last quarter of the year, whereas the income statement is significantly made in the first three quarters of the year. Then, an annual account is registered in the previous quarter. A cash flow statement is reported collectively by the end of each business year. It causes the dimensions to do not match. The analysts should create the accounts reporting simultaneously to prevent fraud.

Overlooking One-Time Transactions: Impact on Accuracy

Failure to pay attention to one-time transactions is a pitfall in financial analysis. Analysts often overlook write-offs, division sales, and accounting revisions, impacting accuracy and occasionally distorting outcomes. Failure to account for losses in these transactions leads to discrepancies and confusion in the reported numbers.

Underestimating Footnotes: Unseen Impact on Financial Analysis

They are ignoring the footnotes. Most analysts ignore the footnotes provided under the financial information despite being warned about it to give it a look. The footnotes sometimes include a significant asset such as property or equipment. When the analysts do not have these transactions, it significantly affects the three meaningful statements and overstates cash flow. Cash flow significantly affects bookkeeping and maintaining financial statements when such considerable information is not included.

Conclusion 

While the analysts perform many other errors, these five are the most common and biggest mistakes, creating severe business problems. Suppose the analysts are not correctly making the three primary financial statements (balance sheet, income statement, and cash flow statement). In that case, there is no use in having professional help and guidance. The owners would not be able to assess the operational efficiency properly, and they would not be able to determine the actual position of their finances.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Understanding Total Compensation

Daily, workers perceive that their gross salary, before taxes, and net salary, after IRPF and contributions, reflect their company’s monthly compensation. However, other contributions by the company are not necessarily reflected on a pay stub. Other contributions make up the total compensation to the worker for the company. 

These costs are divided into the four following categories.

Compensation: Worker vs. Company

The companies share these costs, distinguishing between the company’s contribution and the worker’s contribution when it comes to the total compensation to the worker. And this difference is reflected in the payrolls, where only the second one is remembered. 

Specifically, the gross salary reflected in the payroll is deducted from the IRPF, and the items contributed by the workers in the form of contributions for common contingencies (4.7%), unemployment in fixed contracts (1.5%), unemployment in temporary contracts (1.6%) and professional training (0.1%).

However, there are other costs that payroll does not reflect and that are contributions by the company to the worker, such as common contingencies (23.6%), professional contingencies for unemployment in fixed contracts (5.5%), for unemployment in temporary contracts (6.7%), by professional training (0.6%) and by the Wage Guarantee Fund (0.2%). 

Or, workers’ compensation is usually around 30% higher than their gross salary before taxes and contributions reflect their payroll. The OECD, the United Nations System of National Accounts, and the National Institute of Statistics (INE) define workers’ compensation as the sum of the salary or profit reflected in their payroll (and where personal income tax and contributions are deducted). Part of the worker), and social contributions by the company.

Social Contributions & Salaries

Regarding this second item, it is essential to highlight that social contributions made by workers to the public treasury are included and differentiated, such as, for example, Social Security contributions for public pensions and contributions made to private social insurance programs as can be private pension funds.

On the other hand, the European Statistical Office defines wage compensation as labor cost, this being the sum of three items: the compensation of employees (including salaries and wages in cash and in-kind and employer contributions to the social security), the costs of professional training, and other expenses.

As can be seen, the most critical organizations define similarly what salaried compensation, also called labor cost or salary remuneration, differentiating, on the one hand, the gross wages and salaries received by a worker on the payroll and, on the other, the social contributions for pensions or public unemployment contributed by the company. 

The critical question is: can wage compensations be considered salaries in their broadest sense? Can this labor cost be modeled as a wage income? The following arguments are proposed to answer this hypothesis.

One of the arguments against this hypothesis is that Social Security contributions, both by the employer and the worker, are made in different items, subject to additional tariff and rebate policies. Therefore, they cannot be interpreted as the same. 

However, all this is an accounting device since it is a fictitious assumption that the Ministry of Labor changed the law. The company was obliged to provide the entire taxable base to the worker. No significant change would be appreciated if this offers, for example, 28.30% of common contingencies (4.7% + 23.6%). As will be seen below, there are countries where their labor model works similarly.

Secondly, it is argued that social contributions are contributions and cannot be considered salaries. Although it is technically correct, that is, it is a future income that is not enjoyed in the present (it cannot be used for consumption), it does constitute a contribution in the worker’s name to receive rights in the form of future contributory benefits, equivalent to payment in kind. 

For example, many companies provide part of the salary in food vouchers, gasoline for transportation, and children’s school. Instead of giving liquid money, payment is provided on future goods and services equivalent to liquid money that is not perceived.

Diverse Global Models

Thirdly, countries where the standardized methodology for measuring compensation does not include social contributions to public social security, either because it does not exist or is collected through other channels. 

The first case is proposed as an example of the United States, a country without universal public pensions. The company contributes no social contributions for this general insurance. Private pension funds are negotiated and included as “benefits” and other items, such as health insurance (private) or benefits in the form of company shares.

On the other hand, there are paradigmatic countries such as Denmark whose model work model does not include contributions from the company (“Employer SSC”) to Social Security. The following graph shows the percentage represented by Income Tax (“income tax”), the contribution to social security by the employee (“Employee SSC”), and the contribution by the company (“Employer SSC”) concerning the total cost of the worker, also called total remuneration of the employee, for different countries of the European Union.

This phenomenon is that in Denmark, social services and benefits are financed mainly through IRPF, so this item absorbs the other two. Or, put another way, unlike the payrolls of workers in the United States in which only salaries and salaries can be verified (and their corresponding contributions by IRPF and common contingencies), Danish workers’ payroll would be reflected in all the remuneration salaries.

Thirdly, countries where the standardized methodology for measuring compensation does not include social contributions to public social security, either because it does not exist or is collected through other channels. 

The first case is proposed as an example of the United States, a country without universal public pensions. The company contributes no social contributions for this general insurance. Private pension funds are negotiated and included as “benefits” and other items, such as health insurance (private) or benefits in the form of company shares.

On the other hand, there are paradigmatic countries such as Denmark whose model work model does not include contributions from the company “Employer SSC” to Social Security. The following graph shows the percentage represented by Income Tax, the contribution to social security by the “Employee SSC”, and the contribution by the company “Employer SSC” concerning the total cost of the worker, also called total remuneration of the employee, for different countries of the European Union.

This phenomenon is that in Denmark, social services and benefits are financed mainly through IRPF, so this item absorbs the other two. Or, put another way, unlike the payrolls of workers in the United States in which only salaries and salaries can be verified (and their corresponding contributions by IRPF and common contingencies), Danish workers’ payroll would be reflected in all the remuneration salaries.

Unemployment: US vs. Austrian Models

Finally, some countries implement specific quotes radically differently than the United States. In our country, the contingencies for unemployment are contributed directly to the public insurance of Social Security, where the worker contributes a part, and the company contributes another. 

However, they are implemented as an Austrian backpack in countries like Austria. The difference between one and the other is that the first contributes to an unemployment benefit only in unemployment. 

In the second case, the employee receives from the entrepreneur an annual contribution in a capitalization fund throughout their working life, becoming a de facto equity in his name that can be incorporated in the form of income when he deems it appropriate. In other words, unlike public insurance, the Austrian backpack works as a “piggy bank” that can be accumulated throughout the working life on behalf of the worker.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Safeguarding Your Finances

It is crucial that when you choose a professional to prepare your taxes, you ensure they are accredited. While some tax professionals from well-known tax prep businesses may be more expensive, that reputation could ultimately save you more money.

You have to verify that your tax preparer is someone with whom you can constantly contact if there are questions about your income statement after it is filed. Although not all tax preparers who only operate from January to April represent a risk, some of these temporary preparers could expose the taxpayer’s data, making them vulnerable to fraud.

Fraud Prevention in Tax Season

An IRS representative noted that after the income presentation season closes on April 15th, complaints against some temporary tax preparers are common sense. In many cases, they present incorrect statements and try in some way to take away money from the taxpayer. During the past fiscal year, the IRS received 9,277 complaints from abusive tax preparers on suspicion of tax fraud.

It is recommended that taxpayers who do not hire preparers base their billing on a percentage of the client’s reimbursement. He also urged the community to ensure the refund reaches their bank account, not the tax preparers. You should never sign a blank tax return because you are responsible for the information presented, even if you have hired a preparer.

It would help if you were careful to avoid being the target of fraud. The taxpayer must verify the preparer’s qualifications and require him to see his PTIN number (tax preparer). You can also check them out through the Better Business Bureau, where you can see if there are any complaints with that specific preparer.

It is essential to select an appropriate resource that accurately completes your tax return and that you present it electronically so that you are not a victim of fraud and receive your refund as soon as possible as there is much fraud among the different communities, such as minority communities and older people.

The most common mistake incurred by taxpayers when presenting their taxes is an action that sometimes gives rise to fraud and delays the payment or reimbursement. Therefore, the taxpayer should verify that the names appear the same as in Social Security, that the bank account numbers and routes are correct, that the tax return is signed, and most commonly, that the credits and the deductions are calculated correctly.

On the IRS.gov website, there is the Interactive Tax Assistant tool, which helps taxpayers perform calculations correctly. During the previous year, people who earned $ 66,000 or less qualified for Free File, an IRS program free of charge, to do all the taxpayer’s mathematical calculations.

Less Undocumented Taxpayers

On the filing of returns by people without legal documents to be in the country, a figure that has been reduced in the past two years, it has been indicated that every person in that situation must make sure that their identification number of the taxpayer or ITIN is up to date because if it is not there. You have a refund. It will be sent to you once it is renewed.

In years past, the number of people without Social Security numbers who made contributions through an ITIN was 4.5 million each year, one hundred thousand less than those who declared taxes in that way in the past, according to statistics provided by the IRS.

A report published by the Institute on Taxation & Economic Policy (ITEP) estimated, with data from previous years, that the population without defined migratory status collectively pays $ 11.74 billion each year in state and local taxes.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Like any company, small businesses also have to pay taxes. It cannot be apparent for those who do it for the first time due to the forms that must be completed and submitted to the Internal Revenue Service.

While it is suggested that you hire a tax preparation professional, if you decide to tackle your business taxes on your own, you will need to take steps to do it properly to avoid issues with the IRS. Here are four crucial steps you need to take to prepare your business taxes.

Review Your Financial Information

Ensure that information about your staff and contractors is always current and correct. Verify data such as the names of employees, social security numbers, addresses, and marital status. If you work with independent contractors, check their names, taxpayer identification numbers (TINs), and addresses.

Organizing Documents

Keep all the records and documents adequately organized to make the preparation process more efficient.

Keeping track of all the business documents allows you to keep up to date with controlling your expenses and financial statements. These details are helpful in case of an audit or demand.

In addition, the Internal Revenue Service (IRS) requires a person to submit documents supporting the deductions, income, and credits they need to report on their tax return.

List of primary records that you must keep.

• Deposits (cash and credit sales)
• Invoices
• Accounts payable and receivable
• Previous tax returns
• Canceled checks or other evidence of payments/ transferred funds
• Receipts
• Credit card receipts
• Bank statements
• Payroll records
• Any other document that serves as a support for your income, credits, or deductions that appear on your tax return

List of other documents that a person may need during tax season.

• Contracts that you may have signed with clients, employees, suppliers, and contractors
• Formation statutes of a commercial company
• Permissions
• Annual reports
• Health, safety, and any other similar documents

Consider Extensions, Deductions, and Refunds

According to the IRS, business administration costs can be deducted as long as they are “necessary and ordinary.” The agency defines such expenses as those every day and recognizes expenses within the choice of the business.

On the other hand, the necessary expenses are helpful and appropriate for the company. Some examples include the purchase of vehicles or other valuable equipment.

Look for Specialized Advice

Gathering all the required documentation while ensuring you follow all the steps correctly. This process can sometimes be overwhelming. Do not hesitate to seek the help of a lawyer or an accountant to advise you. External consulting can be the quickest and easiest way to avoid audits and save money.

Conclusion

According to the Issuer’s Report, which summarizes the results of two recent investigations that evaluate the effect of taxes on companies, the complexity of the corporate tax system is reflected in heterogeneous tax burdens that vary over a wide range.

According to recent research, firms that pay taxes and calculate the effective tax rate are not what the tax law says but what they produce and divide it between the utilities. The report explains that no company pays the nominal rate, and the vast majority pays below 30%, which is lower than the tax statute, and good news does not become negative either.

Also, the report states that smaller companies pay a higher tax rate because larger companies can invest in lawyers and accountants, allowing them to look for strategies to pay fewer taxes, and that great inequality makes small businesses, which are the vast majority, uncompetitive.

The report also indicates that the smaller companies are the ones that pay the most taxes; that is to say, the elasticity of the taxes, if they increase the tax rate, does not affect the profits of the companies because the companies manage to find ways of do not take away the profits.

In that sense, the report indicated that the estimate of the elasticity for the tax reform of 2012, which reduced the income tax rate and established the CREE tax to replace the para fiscal contributions and the social security contributions of the employees with less than ten minimum wages, indicates that, given a decrease in the TEMT, the profits of the companies responded positively and elastically.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

ETFs, mutual funds, stocks, bonds, and real estate are considered investment chances in traditional portfolios. You would not be incorrect in thinking of these. They are probably what your existing portfolio mainly contains, but the primary investment is too often ignored. Most people see it daily and don’t think twice about it. It employs a million landscapes and bears the world’s ever-growing population.

Farmland

While the advantages of investing in a farming business or farmland might be evident to some, you infrequently find it as part of your traditional investment portfolio. Why? The infrastructure has not existed.

Traditionally, farmland is held and passed down by groups of families that have worked the land their whole lives. As village areas develop and new generations leave home to work in country areas, the grounds end up on the market, accessible for investment or purchase.

All that said, what makes a farm business a sound investment?

Favorable Diversity

Containing various or diverse portfolios is one of the initiatives you get about when investing your money.

Putting too much into one business, industry, or sector can be destructive in times of volatility and crisis. Just because your portfolio is diverse does not mean that you are free from potential losses.

For example, the 2008 crisis and the COVID-19 pandemic have taught us that constant investment opportunities are not always so, and the unpredicted finds a way to rear its ugly head in any portfolio.

A farm business or farmland, though, is favorably diverse. Farmland destructively relates with other asset classes and just slightly correlates with real estate. It means that while other resources decrease in worth (bonds, stocks, etc.), land prices and produce from agricultural projects increase.

Of course, this also relies on the sort of farm business or farmland you select to invest in. Various crops offer lower or higher-cost yields and might be subject to market volatility. The essence of your investment, the land itself, endures increasing in worth.

Inflation Hedging 

For savvy investors, you might be well known for inflation hedge investments. For the inexperienced, inflation hedging is a sort of investment that defends an investor against a reduction in the buying power of money. These sorts of investments ensure that your money’s worth remains the same as the budget of products and services rises over time.

Conventionally, gold has been the leading inflation-hedging investment. The worth of gold increases over time and will not miss its cost concerning inflation.

Gold vs. Farmland: Inflation Hedging

Although gold is the main of these sorts of investments, farmland has overtaken gold in the long haul. It isn’t even near or close.

Total returns on farm business or farmland investment have progressively outperformed gold over the past three decades, and space is increasing.

As the globe’s population increases, it needs to be fed. The worth of food tends to grow in lockstep with inflation. So, as inflation rises, does the value of food and the land’s wealth develop?

Stability

The commitment to stability has burned various investors. Banks are the most common examples, as some offer subprime loans on real estate ventures.

Various private and corporate investors are searching to “forget it and set it.”

The beauty of farmland is that irrespective of the factors that would throw some investment into flux; people demand to eat. 

By the year 2050, professionals project that the global population will increase by another two billion, adding nine billion humans. Meanwhile, at the start of the 20th century, the quantity of available agricultural zones worldwide continuously spiked.

It would be simple to say that no external factors impact the cost of crops. We have seen the effect of geopolitics and tariffs on the dairy and cattle industry in Canada and the U.S.

The land that the crops contain sometimes depreciates its worth as an outcome of these problems. Comparatively, a farm business or land is one of the primary stable investments you can make. Additionally, unlike many regular investment chances, capital praise is there too.

Farmland is a Sound Investment

Apart from all the conventional factors regarding investment chances, investing in a farm business or farmland permits an individual to finally say the path to which our food is extracted, distributed, and produced.

Investing in farm businesses or farmland permits us to push the limits of agriculture. It allows us to innovate and build a better world through maintainable, eco-friendly practices. Lastly, it helps us return the fruits of our joint labor to our own hands.

Bottom Line

There are many other businesses in which you can invest and earn a significant margin profit. One of the leading businesses in farming involves investing less and earning a massive profit in less time.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

When it comes to motivating, assembling, and keeping a good team happy so that they can establish in your business, the reality is that it is a bit of both.

There is no path to exaggerate how significant a good team is to business success. The value of your work will beat the quality of the team behind it. Till now, to many managers’ and entrepreneurs’ dismay, team-building looks more tricky than matchmaking. There are many things, and moving parts must be correct to build something magical.

Fortunately, academic research on group dynamics and team culture sheds critical light on motivating and creating a perfect team.

Here are the five best studies available. Check them to acquire practical steps to guarantee your team is set up for success.

Team Building Exercise

Building a good team and genuine “team-building” practices are often observed in many different lights.

Team building is a business agenda that usually gives a few eye rolls. The starting thing that comes into mind for numerous are the superficial actions that force people together into awkward or difficult situations, with all the people hating the process and willing it would end.

Create a Clear Map

Owners owe their teams an answer to the same query that a young child might ask their parents earlier, setting out on the long drive: where and how to go? For the leaders, what is the objective, and how must we quantify the progress along the way?

That might look simple, but it is one of the biggest challenges companies and divisions face. The difficulty is mainly initiated when the leader begins listing three, five, seven, or eleven priorities. Determining the priorities and how they will be calculated is arguably the most significant job of a team leader. The reason is most of the work that everyone does will flow from those objectives. Those preferences must be lined up as wisely as the rocket launch route because even the slightest error can make the team off-course.

Have a Shared Scoreboard

The other advantage of containing a straightforward plan is that it builds a shared goal that will balance people’s tendency to recognize themselves as a smaller team share. Think of a football team, for instance. There are various people within a team: defense and offense, receivers and linemen, defensive backs and running backs. But the team’s goal is obvious, and there is an outside scoreboard to road progress. There is a greater sense of us on the team than the “them and us” dynamic that could often split organizational colleagues.

Measure the Work Performance

Once workers are hired, then the most important factor is performance management. It is the second primary basic of HR. It engages in helping people to achieve better in their work.

Generally, workers have a described bundle of duties to look after. Performance management is a building that allows workers to have reviews or feedback on their performance to reach a better understanding.

Usually, organizations work with the yearly performance management process, which engages monitoring, planning, rewarding, and reviewing worker productivity. This result categorizes workers into best vs. worst performers and high vs. low abilities.

Effective performance management is a much-shared duty of management and HR. The manager is generally in the HR support and lead. Best performance management is vital, as workers who reliably underperform might not fit the organization or culture and must be let go. The worker’s performance significantly impacts team building, and you will manage the less skilled worker in the team.

Facilitate Communication

Remember that communication is the only most significant factor in successful teamwork. Enabling communication does not mean grabbing meetings all the time; instead, it means setting an instance by remaining open to concerns and suggestions, offering help, asking queries, and doing everything possible to avoid communication misunderstandings.

Bottom Line

Team building is one of the major factors to boost your company’s performance. Leaders and human resource management are responsible for managing the department and building the team.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

A budget is a critical component of business planning that is supposed to assist the organization in transforming its strategy into action. Unfortunately, over 60% of businesses do not link their planned strategy to their budget.

Budgeting is a strategic implementation of a business plan. To achieve the goals in a business program, you will require an evaluated roadmap of the business ideas that set indicators and measures of performance. You can make changes later to ensure you arrive at the desired conclusion. Tactical or strategic budgeting is an intense kind of financial planning, and many organizations utilize tactical budgeting to determine where to assign financial resources and capital to achieve optimal profits. 

Here is a guide to assess budget management with every passing step.  

Getting Started

Before considering anything else, you need to get a crystal clear picture of your finances. Combine every past financial statement to determine the current savings, investment, and debt payments. When you get an estimate of the monthly revenue and expenditures, and your cost exceeds your income, you will have to pay special attention to the further steps.

Examine the Expenses

There are two basic kinds of expenses: variable and fixed. Fixed costs involve mortgage, rent, and payroll, and these expenses generally stay at a fixed ratio. However, variable costs instantly change. For instance, variable payment involves marketing campaigns. You must carefully determine the categories of expenditures and consider if they can be eliminated or reduced altogether.

Set Up Long-Term and Short-Term Goals

A massive part of tactical planning includes strategic planning. It would help if you decided on the utilization of your money. Do you have to pay down debts? Are you planning to expand your business anytime soon? Does your business involve products? Does manufacturing fluctuate directly with inflation? Consider all the details and note down various short-term and long-term goals. These ideas will determine your next move.

Manage Your Expenses Accordingly

Re-evaluate your costs and consider the things to eliminate that you do not need. It might include business dinners, employee amenities, and other luxury expenditures. You can also diminish your spending by switching insurance policies, searching for a cheaper internet provider, refinancing debts, and availing yourself of the benefits of tiny things like virtual billing and various programs designed for lower expenses.

Clear the Debts

After managing your expenses, you might leave with excess cash that can be further utilized in clearing out the debts. Clearing debts on time will always be more beneficial because constant debt is quite expensive as the interest rate keeps increasing. A handful of obligations are interest-free, and the higher the interest rate you pay, the more that debt will cost you in the long run.

Assign Extra Money

If you are debt-free or you have an ambition separate from paying down the debt, such as saving for a new product or an expansion of your business services, you will have to decide the way to assign extra income you make over the coming months. You can invest it somewhere or else save it for future purposes. Whatever the decision you make, take time to evaluate all the present options and consider the potential consequences of your actions.

Get Everyone on Board

Although many businesses have a person who oversees all the finances individually, budgeting tends to work when everyone stays on the same page. When employees know short-term and long-term goals, the arguments get fewer, and the discussions become more productive. If you are the accountant or handle the finance department, consider sharing the burden and getting others included so that you can approach the desired goals efficiently and rapidly.

All of the above elements are the root of aligning tactical and strategic planning to the budgeting procedure. The strategies approach the goals, while the budget implements the system into practical action. To achieve the desired goals, a person in business must keep the plan and budget on the same page.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.

Your organization’s culture says a lot regarding who you are as an owner and what you are worth. A winning company’s culture will attract good candidates and hold top performers. Equally, a powerless corporate culture will turn people away from your organization and mainly cost your business.

A boom in sales, innovative marketing, and quality products are all workable factors in measuring an organization’s success. But who makes it possible for these successes to happen? Dedication: happy workers who are dedicated to their company values and mission.

Workers are the central pillar of your operation; if they are unhappy and unsatisfied, other areas of your organization will suffer, too. Equally, a workplace where workers are involved, feel they are maintained by management, and cooperate with other departments will help retain your top workers and help you attract new talent.

According to recent international research, approximately 77% consider an organizational culture before applying for a job. It does not just regard who could organize the best happy hour or how many ping-pong tables you could fit into an open-concept office. A good organizational culture comes from the top and is imposed at all company levels.

Establish Clear Company Values and Goals

An organization is a group of people who work together to accomplish one goal. Starting evident organizational culture and roles is vital to establishing a positive corporate culture.

It will be helpful for everybody when these are recognized ahead of time.

Goals arrange how the workers view the organization, their restrictions, and the organization’s expectations. And with one area, you will guide them on what they must achieve together by handling work as a team.

Offer Flexibility

Organizational culture has changed over time, but some practice traditional corporate cultures.

However, they have issues, like how they treat their workers as mere workers without artistic liberty, maintain working hours, and expect them to work in their seats the whole day.

Flexibility is an issue for junior or younger workers who value creativity, liberty, and leisure. These factors impact their capability and efficiency. Therefore, it will be better to offer flexibility.

It is more efficient at ties if the workers are enabled to manage time on their own. Current experiments on this display that flexible time assists in boosting their productivity and creativity because they’ve more time to do mandatory personal things, reducing what they think of at the workplace and allowing them to be more concerned about work.

Encourage and Empower

Your workers are not just people who work for you. They are an essential part of your organization’s success regardless of their position.

It is significant to encourage and empower your employees to work hard and perform better.

One approach organizations take is rewarding and recognizing worthy workers to perform better every time.

Promote Trust

An organization is different people, and conflicts arise at times. It will be advantageous to start building trust within the organization.

Resolve conflicts fairly and quickly. Promoting trust brings relationships in the organization considerably.

Integrate Modern Tech to Ease the Job

There is never a simple or easy job, so why make it worse? The beauty nowadays is how progressive technology has gotten. It has improved our lives significantly with only a push of a button.

Most organizations utilize platforms wherein they concentrate on their work; this ease job and avoids communication. Here are some recipes of modern platforms you can use in your organization.

• Asana
• Week Plan
• HipChat
• Google Apps for Business
• Trello
• Slack
• Skype
• Jira

You can use these platforms for much more efficient project management and collaboration.

Establish a Strong Team Relationship

Like basketball, good group work wins the game. It could be said once it comes to your organization, with one goal and one vision, you must struggle to accomplish them together.

Great teamwork comes from a good team relationship. Owners can start by managing or organizing activities like team building.

Bottom Line

Organizational culture is one of the main factors in the business industry. If you have a good and positive corporate culture, you have a good employee performance. Corporate culture directly impacts employees’ performance.

About Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.