Financial Planning for Business Owners

Financial Planning and Investment Advice:

Designed for Business Owners

As a business owner, you have unique needs which aren’t addressed with typical financial planning and investment advice. Every personal financial planning decision must also consider the impacts on your business. Planning is designed to integrate your personal and business finances while creating separation between the two so the financial challenges in your business stop bleeding over to impact your personal and family finances.

Financial Planning for Business Owners

Our comprehensive planning looks at every aspect of your family’s finances to ensure your money facilitates you living your great life and prioritize what you value. And it focuses on growing the true driver of your wealth rather than diverting funds toward investing in other businesses. We’ll work together to fully fund the four key financial needs of every entrepreneur:

  1. Funding Your Lifestyle
  2. Growing the Business
  3. Managing Business Slumps
  4. Preparing for Your Retirement.

401(k) Advising, Setup & Administration

With proper planning, a 401(k) can provide business owners with a powerful way to manage taxes and protect assets from liability. It also provides employees with financial security and helps reward and retain employees who are key to business success.

Our retirement plans are built on conflict-free advice, expert regulatory and tax compliance, the protection of a third-party custodian to safeguard funds, and reducing your liability through delegation of fiduciary duties.

Business Coaching & Executive Coaching

Designed to help you grow your business, address key business issues, and establish & pursue your strategic direction. Coaching provides guidance, accountability, and expert consultation in each key area of your business; strategic planning, marketing, financial, operations, and management. Build your ideal business and your desired lifestyle.

Bookkeeping & Fractional CFO Services

Stay on top of your business financials and keep your accounting records up to date. Bookkeeping services for businesses and entrepreneurs record and track the financial transactions of your business, reconciling financial statements with accounts payable, and summarize the activity of your business regularly into financial reports to track the financial position as well as the performance of your business.

For businesses with more robust financial needs, Fractional CFO Services provide an analyst and thought partner to provide business owners or support business financial managers with more in-depth analysis, decision making, and thought partnership around the business finances.

Some Planning Solutions to Business Challenges:

It can sometimes be hard to envision how financial planning can integrate with your business – especially since most financial advisors are just focused on explaining how what they sell meets your needs. Below are a few scenarios where real financial planning can solve real business needs.

  • Expansion/Start-up financial planning: Support for financing expansions and ongoing operations as you enter new markets or expand the business.
  • S-Corp Wage analysis: Setting your S-Corp reasonable wage as a business owner affects both your current tax liability and your Social Security income in retirement. Our analysis helps identify the optimal wage for the tradeoff between lowering your taxes and optimizing Social Security.
  • Business plans: To ensure the ongoing viability of your business, you’ll need help putting together a sound business plan – for the short, intermediate and long-term.
  • Contingency planning: Thinking through the potential emergencies and unforeseen situations which can arise to develop plans and preparations needed to successfully navigate them.
  • Taxation Planning: Business ownership opens up a whole new area of the tax code with specific challenges and opportunities. Tax planning helps position your business you’re your family to take full advantage of incentives and benefits within the IRS code.
  • Asset acquisition: Whether you choose to own an asset outright for your business, or ensure its use through other means, will depend on the financing options available to you. We can help you make buy versus rent, versus lease decisions that are right for you
  • Debt management: Is it best to borrow against business assets? Or should consider refinancing? Or would it make sense to dispose-off some assets to finance debt? These are every-day decisions that we help business owners make.
  • Business expansion and diversification: When it comes to expanding and diversifying your business, you’ll find us right beside you when evaluating financial proposals and financing options to fund those initiatives
  • Employee retention: No business is ever successful without satisfied employees. We’ll work with you to help offer attractive remuneration, compensation and benefits packages to your employees, that will motivate them to consider making a long-term career with you and your company
  • Succession planning: What happens if something untoward happens to you? What if you wanted to step down, or take a less active role in the business? Is there someone groomed and primed to assume the mantle of leadership and succession?
  • Retirement, Estate and Legacy planning: And when it’s time for you to call it quits, we’ll be right there to ensure you are able to enjoy the fruits of your hard work. Through careful planning, we’ll not only make sure you enjoy a comfortable retirement, but that your legacy passes seamlessly to your next generation of successors.
  • Entity structure advising helps you choose between between staying a Sole Prop or Partnership or incorporating and which form of incorporation is optimal for you.

Book an introduction call with a Certified Financial Planner® to create your personalized financial planning for business owners.

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