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3 Important Tips To Help Business Owners Prepare for Life After the Business

How many times have you heard someone say, “When I retire, I want to move somewhere warm and play golf”?  Does that sound familiar?  While it certainly sounds nice and may work for some people, it is hardly an effective retirement plan.  It goes without saying – if that is the only planning being done, […]

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Key Ingredients: Time, Health, and Money

What factors have made your retirement so successful? This is the very question I asked Doug and Debbie over dinner in their Florida condo overlooking the Gulf of Mexico. I have been fortunate to know Doug and Debbie for over a decade, and they have truly mastered the art of retirement. Deb, as usual, cut […]

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Do You Need Life Insurance for Life?

Not everyone needs life insurance. Some of those that do can be handled with simple solutions. Others may be best served by more complex planning. Determining Your Need for Life Insurance Insurance of any kind is simply a transfer of risk. Premiums are payments to shift the financial risk from you to the carrier. Life […]

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Gifting Stock Options to Family Members – What You Need to Know

Stock options have long been an attractive component of executive compensation. Sometimes we are asked if it is possible to transfer employee stock options to family members as part of an estate reduction strategy. It’s an interesting question and possible under certain circumstances. For executives that know they have enough to meet other goals and […]

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The Importance of a Business Contingency Plan

There is no way around it – the life of a business owner is hectic.  Constantly worrying about things like revenue growth, product development, and employee retention can be very stressful.  Outside of work, there is a desire to allocate remaining time to family, friends, and other important things.  This results in many business owners […]

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Business Considerations for Your Start-Up

Getting a business off the ground can be stressful, and the need to decide which entity structure to use amid all the chaos can be overwhelming.  There are many different factors to consider, such as ease of administration, liability protection, legal requirements and income tax implications.  In this blog, we’ll take a high-level look at […]

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How to Lower Your Tax Bill With Deferred Compensation

Non-qualified deferred compensation plans are an area of increased activity, with year-end planning and tax uncertainty. Executives and key employees can take advantage of managing today’s still-low tax brackets while staging a custom payout plan in retirement at potentially lower rates. First, it’s important to understand how these plans work and what the pros and […]

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Good Bye 2020, Hello Taxes

Good news: The year 2020 is coming to an end. Historians will look back at 2020 as an epic year for chaos in the United States. We will not miss the Covid-19 Pandemic, the social unrest across the country, or the contentious presidential election.  Bad news: now that the election is over, and we have […]

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Estate Tax Exemption – Use it Now!

Federal tax law levies a tax on the value of assets you own at death.  The estate tax is levied at a 40% rate and can severely impact the transfer of wealth to future generations.  Many business owners are simply unaware that the value of their business exposes them to the tax and that may […]

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Top 4 Biden Tax Changes That May Affect You

Presidential Democratic nominee, Joe Biden, recently released more information on his proposed tax agenda. While there are a number of tax changes that Joe Biden has mentioned, we will focus on four potential changes that would impact individual taxpayers. Of course, these changes are contingent on Vice President Biden winning the election and also being […]

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Stock Options and Restricted Stock – What You Need to Know About Taxes

Executive compensation plans, including stock-based compensation, are a great way for companies to attract and retain top talent. Understanding the tax implications, however, can be a daunting task. Many variables come into play, including plan type, qualified or non-qualified status, holding periods, etc. and for busy professionals, just finding time to focus on this can […]

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Exiting Your Business? 3 Critical Considerations

Selling a business is the culmination of years of hard work and dedication to a way of life.  The seller has one opportunity to get the sale “right” to maximize retirement wealth and preserve that which will be transferred to future generations.  Of course, there are many detailed considerations, but the early focus should be […]

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