We offer expertise, advice, and professional referrals to address a range of our clients’ most complex business and planning issues around wealth accumulation, protection, and transfer. We do this by listening, understanding, and educating our clients on options and solutions they typically do not have time to research and find on their own.
Business Valuation
Do you know how much your business is worth? Before you even consider selling, transferring, or taking money out of the business, you need to know your business valuation. Our free business valuations are excellent for obtaining the information needed to:
- Decide whether or not to put your business up for sale
- Determine value while working on a buy-sell agreement or considering the updating of your buy-sell agreement
- Consider estate planning needs
- See how the business is performing relative to others in the industry
Succession and Exit Planning
Do you know your options for moving on from your business? It’s a complicated decision with many moving parts that can lead to financial mistakes or misunderstandings. Our exit planning expertise and network of professional partners can help you determine your best course of action regarding your eventual exit from your business to maximize value, minimize taxes, and meet your other objectives.
Employee Stock Ownership Plans (ESOPs)
What if there was a way to step out of your business at your own pace while maintaining full control? What if there was a ready and willing market that will provide you full fair market value? What if you could defer capital gains taxes from the sale of your company stock indefinitely and turn your business into an income tax-exempt entity going forward?
You can! All of these things are possible with an Employee Stock Ownership Plan (ESOP).
An ESOP is a qualified defined contribution retirement plan where the assets of the plan are invested in the sponsoring company’s stock. An ESOP allows you to maintain full control of the company until you have been fully paid, all with incredible tax advantages.
Employee Recruiting and Retention Strategies
In today’s red hot human capital marketplace, we know it can be difficult to attract and retain quality employees. That is why we provide proven employee recruitment and retention strategies that are beneficial to both the employer and employees. Through the use of Supplemental Executive Retirement Plans (SERPS), ERISA plans or a number of other non-qualified planning strategies, we can show employers how to attract and keep their very best talent while preserving the business balance sheet and increasing business value and loyalty.
Insurance Audits
When was the last time you revisited your business-owned life insurance policies? Here are some questions a life insurance audit and can address:
- Is your buy/sell fully funded? Is it up to date? When was it last reviewed?
- Is the buy/sell agreement structured in a way to increase tax basis to the remaining partners and eliminate taxes to the seller(s) or their estate?
- What happens if a business partner becomes disabled and is unable to hold up their end of productivity to the business? Is this risk addressed in the buy-sell agreement? If addressed, has the potential liability been funded through the use of disability buy-out insurance?
- Are your Key Person policies or other corporate-owned policies in compliance with IRC Sec. 101(j)? If not, we can identify those policies and then potentially save the business a large amount of income tax dollars when the death of that Key Person occurs.
Don’t leave your business open to unnecessary and costly tax liability. Get a life insurance audit that will give you peace of mind or identify important changes needed.
Tax Savings and Related Planning
With the enactment of the Tax Cuts and Jobs Act in 2017 (TCJA), there are many changes that could impact how you plan for your business and personal financial security. Do you know how this newly enacted tax law affects you and your business? Regardless of what type of business you own, the new tax law could make a significant difference in your current and future financial situation.
For example, until December 31, 2025, qualified pass-through entities will receive a 20% deduction in taxable income calculated from the business’ qualified business income as outlined in IRC Sec. 199A. Did you know there are ways to take a part or all of the 20% income tax-deductible income off the table and make it never subject to taxes or within reach of potential creditors? We can show you how to have both benefits and enjoy this money tax-free in your retirement years.
For C Corporations, the TCJA provides a flat tax rate of 21% – down from a potential rate of 35%. Have you thought about how you are going to use this newfound cash from your tax savings? Would you like to explore options for securing your most valuable employees to the company or for preserving that cash for your personal future use while making it off limits to potential future creditors? We can walk you through the options and help you maximize your money while minimizing your taxes.
Estate Planning
Estate planning is ever-changing. We can show you strategies that protect the ones you love, give to those you love, and not relinquish any more to the IRS than is legally required. Our decades of experience and relationships with the best, most up-to-date estate planning attorneys will help you with whatever your needs may be.
Personal Planning
The business and personal planning needs of business owners are very often unavoidably intertwined. With our own expertise and that of our professional partners, we can address any financial need you may have.