I’m curious how other small business owners handle their revenue. We have a significant amount (100K+) in a business checking account that gains minimal interest. But should we be keeping it in a high interest savings account or even some of it in a CD account instead? I’m concerned about our ability to keep up with inflation, but also need to keep a certain percentage liquid as well in case of emergency. Any advice?

  • thescheit@alien.topBEnglish
    1·
    1 year ago

    Don’t forget to setup a 1031 exchange in case the economy turns or your business, so if you need to sell, specially with the added value of a long-term tenant, you can sell for a profit without being subject to capital gains tax!

    This is not how a 1031 exchange works at all.