Planning For Business Owners

Financial planning and business planning for business owners requires a diversified skill set. The planner needs to understand your unique circumstances and challenges. Below are some of the issues and concerns our clients commonly have where we can be a key resource:

  • Risk Management and Liquidity: Protecting your business and maintaining cashflow.
  • Business Asset Ownership: Advising on personal, trust or corporate ownership of assets.
  • Business Succession: Who will run your business when you step down or become unable? Who will purchase your business?
    • Sale to an outsider
    • Sale to a partner
    • Sale to family member
    • Sale to employees
  • Family Business Succession: Setting the next generation up for success for the benefit of your family in the long term.
  • Retirement Plans: What is the best choice for your business? SIMPLE and SEP plans, 401k, Defined Benefit, etc.
  • Employee Benefit and Retention Plans: Leveraging cost-effective benefits for owners, partners, and executives that create comprehensive benefits for your employees.
  • Key Employee Deferred Compensation Plans: Providing deferred comp plans that afford your employees financial incentive to stay with your business and thrive.
  • Tax Efficient Strategies: Minimizing personal and business tax liability through planning.
  • Estate Planning: Managing the pass-through process of the wealth and assets you have accumulated through the running of a successful business.

While many of our clients are aware of these objectives, they rarely become high-priority until a problem arises. Creating solutions in that environment is inherently less effective. By focusing on these business planning strategies early and often, it allows us to create the most effective solutions.

Neither New York Life Insurance Company, nor its agents, provides tax, legal, or accounting advice. Please consult your own tax, legal, or accounting professional before making any decisions.