From the Editor's desk at Route 422 Business Advisor — Relevant news and information of interest to business owners and operators along the Route 422, Route 100 and Route 30 corridors in Southeastern Pennsylvania. Please visit www.422bizmag.com

ESTATE PLANNING Part Two - Last Will versus Living Trust

The correct strategy for you last will or living trust depends on your individual

circumstances and objectives. A last will determines how your assets pass to your heirs or others

at your death; whereas, a living trust is created in your lifetime and affects your property during

your lifetime and upon your death. If you establish a living trust, then it is advised that you have

a “pour-over will” for any assets that may not be in trust at the time of death.

A last will generally costs less and is very easily established, but cost should not be a

Wading onto the Board of a Nonprofit Corporation

If you are a business owner, or one of the otherwise active members of the community, I believe there is a ninety-percent probability you will end up on the board of a nonprofit corporation. This is good. It is good for you and great for your community. Some will serve small entities of little geographic reach, while others will help govern and direct organizations serving the reach of the Commonwealth and beyond.

Bigger Isn’t Better

We’ve all heard the biblical story of David, whose well-aimed stone brought down the giant Goliath. When negotiating telecom services, small companies armed with powerful negotiating techniques can do as well or better than their larger counterparts. Here are four tips to help:

1. Know what you have and what you need.

Why is Estate Planning an Essential Component of Financial Management?

Estate planning is an important part of your overall financial management strategy

because with a plan in place you will avoid unintended consequences. Certain plan documents

will assist you in your lifetime, whereas other documents will assist upon death. If you become

incapacitated, then you will have a trusted, competent person or persons that you have named to

handle your financial and health affairs. If you pass away, then your assets will be distributed per

What Is A Funeral Trust?

Like other major life events, pre-funding your funeral will give you peace of mind, comfort and assurance knowing that money will be there to pay your final expenses. Now, wouldn’t it be nice to have an insurance policy that is designed to do exactly that? Pay for your funeral costs, while also having the money protected from Medicaid or creditors so it will be available for its intended purpose?

How will my SURVIVORS pay for my funeral?

An Ounce of Prevention is Worth a Pound of Cure

A recent report published by Identity Theft Resource Center stated that since May 1, 2018, there have 383 data breaches across various industries including the military, financial, healthcare and others so far this year. Imagine if that is your customers’ data that was compromised

7 Things Your IRA Custodian Won’t Tell You

What hasn’t your IRA Custodian told you?

It is important to know what your IRA custodian will tell you and what they will not or cannot tell you. The I in IRA stands for individual and many times it is up to the individual to know things or keep track of them.

Marketing Lessons from Driveway Spammers

Every spring they appear like leaves in the fall. Unwanted, they sit at the end of the driveway in the muddy-muck left from winter. Landscapers, contractors, handymen, and asphalt companies have all latched on to a marketing technique that bears some discussion.

Here’s how it works: Print up a cheap flyer on yellow or green paper, grab some gravel or a single rock, stuff both into a plastic bag, and tie it closed. Then head for my neighborhood and litter every driveway in sight.

Tax Planning 2018: How will your tax situation be different in 2018? What is the effect of the new tax law changes on your situation?

This is the perfect time of year to do tax planning, and planning ahead provides the

greatest opportunities and benefits to you. Even before considering the new tax law changes;

determine if there will be any change to your income and deductions this year versus last year.

For example, in Tax Year 2017, did you have a large capital gain or loss, sell a rental

property for a one-time gain, get a one-time taxable distribution, or did you make a deductible

retirement plan contribution? Are you scheduled to make estimated tax payments based on last

PayPerClick–Instant Results = Big money SEO-Delayed Results = Lasts Forever

In an article written earlier for these pages, we covered how the criminal behavior at a respected news magazine read by at least three generations and, likely some millennials, when International Business Times (IBT), publishers of Newsweek, were exposed by SocialPuncher and BuzzFeed showing how IBT, in order to secure a government advertising contract for nearly $3 million, purchased fraudulent traffic directed to their websites in order to embellish their presentation to the Consumer Financial Protection Bureau and secure the contract.

What Does an Exceptional Leader Look Like?

Abraham Lincoln once said, “The best way to predict your future is to create it.” In a Google search I found a Leader defined as “the person who leads or commands a group, organization, or country.” Abraham Lincoln predicted that our Nation had to abolish slavery in order for our Nation to truly be the “land of the free and the home of the brave,” and he led our Nation to that vision. This was a very bold and challenging undertaking in our Nation’s history. Through his Leadership skills, he helped create and shape the America we know today.

Wave of New Investment Accelerates Pottstown’s Revitalization Process

When the Third Annual Pottstown Investors Conference gets underway at The Hill School on April 12th, presenters and attendees will no doubt be encouraged by the veritable tsunami of recent investment along East High Street in the heart of the downtown, as evidenced by the sale of several dozen properties over the past few years, including seven transactions in the last seven months. And the good news is that multiple investors and investor groups are acquiring these properties for reasons that will ultimately bring enormous benefit to the borough and the downtown.

Your Biggest Security Threat!

By Scott Guinther, I.T. Shield, LLC

Member, Small Business Resource Association

Most business owners today know they need IT security to keep their businesses safe. Antivirus/malware protection and firewalls are the basic security measures used by most businesses today. But with these necessary and valuable security measures, none of these can prevent the biggest threat to your company — Your People!

“Success Thinking”—It’s All About Attitude

As a small business owner, you’re not just “the boss.” You’re also the leader, the person employees, vendors, customers, and prospects look to for guidance, support, and confidence. And being a leader is easier than you think. It begins with a positive, “can-do” attitude that your business delivers what it promises, and can achieve any goal.

Managing Your Business Website: 7 Things to Consider

At Hureka Technologies, we have served over 50 businesses with new website designs and digital marketing services. Consequently, we understand the challenges business owners face while managing a website. Be it for just maintaining the online presence, or as a key driver in your business’s value delivery cycle, a website makes a huge difference, yet it’s astonishing that over 46 percent of small businesses in the U.S. still don’t have a fully operational website.

New Tax Savings for Your Business

There’s good news if you’ve purchased depreciable property for your business in 2018!

The Tax Cuts and Jobs Act (TCJA), which has reduced taxes across the board, has several new mechanisms to reduce taxes paid by small businesses that will be applicable for the upcoming tax filing season.

One of these mechanisms is depreciation.

Businesses have always been able to deduct the cost of tangible property placed into service with their business, over the useful life of the property.

RISK MANAGEMENT Insurance Coverage Considerations

Risk management is an important aspect of the financial planning process. As a financial

advisor, it is essential to assess a person’s insurance coverage to determine areas of strength and

areas for improvement. Any person who is not adequately covered with life, disability, medical,

automobile, homeowners and any other appropriate insurance may have a serious risk

management problem. For retirees, an appropriate medicare supplemental plan and possibly a

long-term care policy should be in place.

The Changes in SEO Process in Last 10 Years

The ever-changing SEO landscape has put many well-known SEO experts out of business; making the space only for real marketers who understand customers and combine their SEO knowledge with effective marketing techniques.

But it was a gradual change. For a while, everybody thought Google would never be able to stop the spammy websites from manipulating search engine rankings. Black hat and grey hat techniques were rampant. One by one, algorithm updates were rolled out, changing the entire SEO process over the last decade.

Benefits and Challenges of AI-Enabled Recruitment Chatbots

As Hureka has successfully delivered AI-enabled recruitment bots, we have an animated discussion on the benefits and scope of these bots for a small business. In this article, we discuss the benefits and challenges of recruitment chatbots and how it can help a small business streamline its hiring process, make it more efficient and improve candidate experience.

Long-Term Care Planning — Why You Can't Afford to Ignore It

Long-term care planning (or LTC planning for short) isn’t the most exciting topic. But most people can’t afford to ignore it in retirement. It’s the four-ton elephant in the room. "Long-term care is the unsolved problem for so many people," said AARP. Not only the fact that seven out of ten seniors will need some type of LTC, but there’s also the hefty price tag to consider.

What is Long-Term Care?