Business Planning |
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W I $ E D E C I $ I O N $ |
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According to Dun & Bradstreet reports, "Businesses with fewer than 20 employees have only a 37% chance of surviving four years (of business) and only a 9% chance of surviving 10 years." 42% of Americans spend more time planning their next vacation than their retirement. ~ National Underwriter, 10-10-05 Edition. Your chances of experiencing a disability prior to age 65 which lasts three months or greater are 21% or approximately 1 in 5. Source: 1985 Commissioners' Individual Disability Table A, based on data from policies issued in occupation class 1 (select white-collar professional). These are unisex probabilities. Understanding the tax incentives, pricing structure, and investment alternatives gives business owners powerful decision-making tools which will affect the future financial success of their business. Return to Services |
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Develop a strategy to preserve your business and your net worth – What happens to your business if something happens to you? What happens to your business if something happens to a key employee? Unforeseen circumstances can cripple your company and endanger your family’s future. Strategies exist to protect your business, accumulate value and provide employee benefits – using the same $'s to accomplish all three – triple-duty dollars. |
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Key-Person Insurance: If you employ anyone whose sudden, unexpected absence would significantly impact your business, contact us to learn how Key-Person Life Insurance can provide the funds you need to keep your business running smoothly after you've lost a key employee. |
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Business Continuation Planning: Prepare for the continued success of your business after you're gone. How can you be sure that your family will get a fair price for the business? Will the business survive conflict between business partners and family members after you are gone? How will the IRS value the business for estate tax purposes? A business continuation plan provides clarity at a time when your business needs it most - a time when you won't be there to look out for those you care about. |
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Using Business $’s for Personal Expenses |
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A key advantage to owning your own business is the ability to use business income to provide for personal benefits and expenses. Examples – |
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Retirement Benefits: Choosing a retirement planning strategy enables you to plan for your future using tax-favored investment options. Qualified and non-qualified retirement plans enable you to accumulate for the retirement of your dreams. |
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Disability Benefits: For a man age 45, the chances of becoming disabled before retirement are 1 in 5. Disability, even a short-term disability, could mean the loss of your business and personal assets – not to mention your ability to fulfill your retirement plans. Protecting yourself, your business and all the people who depend on you from the sometime catastrophic consequences of a disability is sound business planning. It is also a benefit that your company can provide for you and your key employees. |
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Executive Bonuses: Did you know that you can tailor an executive bonus plan so that it is:
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Long-Term Care: The majority of Americans realize they need Long-Term Care (LTC) coverage. The #1 reason they haven't purchased it - the cost. Understanding the LTC cost structure is the key to customizing affordable LTC coverage. |
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Contact us. We can show you how! |
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Salary Continuation: If you or one of your company’s key people were to die, would you like to be able to continue their salary to their family for a year or more? You can do this AND use a tax-favored instrument that benefits your company at the same time. Contact us for more information. |
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Life Insurance: Group term insurance works well for the first $50,000 of coverage, but what about after that? You can provide yourself and your executives coverage that is: |
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Numerous ways exist to use business income for personal benefits. Not getting all tax and investment advantages out of your current plans? Contact us and see if you are leaving money on the table! |
You can! And many companies already have these plans in place. Contact us and find out more. |