Category: Business Advisory

Are you seeking financial stability and retirement peace of mind? You might have encountered various retirement plan options, including the traditional cash balance plan. However, like any financial decision, there are benefits and drawbacks that you must carefully consider. If you’re a business owner you may be wondering whether a traditional cash balance plan is […]

The beginning of a small business is exciting. It’s easy to get caught up in the thrill of improving, growing, and expanding your company into the future. However, along the way, little to no thought may be given to what happens after selling your business. In the following guide, you’ll be taken through exit planning […]

Family businesses are a source of pride and a testament to hard work. Yet, even the most successful businesses are destined to face a transition. The question is, how do you ensure a smooth transition that both honors the legacy you’ve built and secures your family’s future?  This guide is here to help. Below, you […]

Lots of small business owners want to help their employees save for a financially secure retirement by offering them a retirement plan. However, the cost and complexity of most plans, including the popular 401(k) plan, dissuade many from doing so. This is one reason why more than 40% of full-time employees in the United States […]

If you’re a small business owner or self-employed individual looking for a way to prepare for retirement, it’s worth exploring the Simplified Employee Pension-Individual Retirement Account (SEP-IRA).   What is a SEP-IRA? With its easy setup, high contribution limits, and tax advantages, SEP-IRAs offer an attractive retirement planning option for self-employed individuals who want to help […]

Filing Form 5500-EZ for your Self-Employed 401(k) Plan There’s good news if you’re a solo entrepreneur or self-employed individual and want to enjoy the benefits of a 401(k) retirement plan: Congress has created a special type of 401(k) plan just for you. Known as a Self-Employed 401(k) or a solo 401(k), this plan is similar […]

Does your family-owned business have a succession plan in place? If you don’t, you aren’t alone. Despite family firms making up 90% of all business enterprises in the U.S., 47% of owners who want to retire in the next five years say they don’t have a successor.

Succession planning is one of those things that many owners know is important, but often don’t get around to doing it. In fact, up to half of small business owners who plan to retire in the next five years say they have not yet named a successor, according to the Service Corps of Retired Executives […]

Don’t overlook the importance of life insurance and long-term care insurance in your small business’s succession plan. A little work today can mean peace of mind for your family and your business tomorrow.

You can help to ensure the continuation of your business by creating a detailed succession plan that contains a buy-sell agreement. This agreement is the heart of your succession plan and acts like a will for your business – it states what will happen to the business once your involvement ends.