Business Owners – Is Your Buy-Sell Agreement Ready to Go?
October 19, 2021
When owning a business with others, it is very important to have an up-to-date buy-sell agreement in place. A buy-sell agreement is a legal document that outlines what happens in a business with multiple owners in the event of termination, disability, divorce, or death. Many business owners admit that they either don’t have such a […]
The Wall Street Journal interviews Matt Foltz Regarding New Tax Proposal
October 5, 2021
BDF’s Matt Foltz talks with Laura Sanders of The Wall Street Journal how the proposed tax changes will affect business owners in the article Capital Gains and Capital Pains in the House Tax Proposal.
Leaving Your Job? 4 Executive Compensation Considerations
August 17, 2021
Thinking about leaving your job? You’re not alone. 2021 is turning into the “Big Resignation,” with millions either quitting or thinking about leaving for greener pastures. If you are a professional falling into this camp, what does that mean for your Executive Compensation? Here are key considerations if you’re thinking about making a leap. 1. […]
3 Important Tips To Help Business Owners Prepare for Life After the Business
June 15, 2021
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, […]
Key Ingredients: Time, Health, and Money
June 8, 2021
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 […]
Do You Need Life Insurance for Life?
May 4, 2021
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 […]
Gifting Stock Options to Family Members – What You Need to Know
March 2, 2021
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 […]
The Importance of a Business Contingency Plan
February 9, 2021
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 […]
Business Considerations for Your Start-Up
December 22, 2020
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 […]
How to Lower Your Tax Bill With Deferred Compensation
December 1, 2020
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 […]
Good Bye 2020, Hello Taxes
November 10, 2020
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 […]
Estate Tax Exemption – Use it Now!
October 13, 2020
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 […]