Protect your Key Employees
As a business owner, your most important assets are your employees. In the same way that our most valuable assets – homes, cars, ability to earn income etc. should be insured against an unexpected loss, a key employee should be insured as well. The loss of a key employee can have a devastating effect on a small business. We can provide Life and Disability insurance strategies that will protect your company. These benefits can help with recruiting and paying a replacement, loss of earnings to the company. They can also help with redemption of stock or a salary continuation plan arrangement with the surviving family. We will help you to determine the right coverage to meet the needs
Solutions for Business Succession
After the death of a partner, that partners spouse or estate becomes rightful owner of their interest in the business. Their share of the business will be disbursed in the form of compensation or through their participation as an active partner in the business. By allowing us to help design a business succession strategy you will be able to facilitate the orderly transfer of the business interest should this ever happen. There is special planning strategies that we can put in place that will significantly lessen the burden on the remaining partner(s).
Defined Contribution Plans
Effective retirement plans help attract qualified employees, while keeping them with your company for a long time. Our knowledge includes setting up Simple IRAs or Simplified Employee Pension (SEP) plans for your employees. We can also help you create a solo tax-advantage solo 401(k).
Profit Sharing and Comparability Plans
Profit-sharing plans can be a great way to compete against larger companies for prime employees. These plans can offer assets and tax-deferred growth. Comparability plans operate similarly, but help provide rewards to your loyal senior staff and key, hardworking employees.