Planning for Business Owners
Balancing the Financial Tightrope of Business Ownership
Most owners count on leveraging their business to achieve the future of their dreams. Everyone wants the high income that comes from a successful business, but few are prepared for the associated tax burden.
Furthermore, business owners frequently find themselves strapped for time as they run their companies. Often, the day-to-day demands of running a business leave little time for financial planning. However, the time spent to build and update a financial plan can help business owners move forward with confidence.
Here are some of the questions we can help you answer:
- Are you using all the tax-efficient strategies available to you as a business owner and high-income individual?
- Do you contribute the maximum allowable annual amount to tax-deferred vehicles such as qualified retirement plans?
- Are you leveraging a top-quality retirement plan to attract and retain key personnel?
- Is your plan administrator responsible for staying on top of regulatory changes?
- Are you prepared to weather business disruptions and other threats to income continuity?
- Is your charitable giving helping to minimize your tax burden?
- Does the insurance protection that encircles your assets offer tax benefits as well?
- Do you have adequate insurance policies and risk management strategies in place to protect you from the financial demands of professional and personal liability claims?
- How comfortable are you with your succession plan?
- Have you made provisions for transitioning the company to a new owner when you retire?
- If you intend to turn your company over to a relative, what steps have you taken to minimize estate taxes and equalize distribution payments to non-involved family members?
Business owners walk a tightrope – balancing today’s financial requirements, while amassing the funding needed for future growth. The need to thoughtfully transition the company demands attention as well.
If you would like to learn more about our recommendations to business owners like yourself, contact Atlanta Financial today at 770.261.5380 to schedule your complimentary consultation.
CPA, CFP®, AIF®
Rick focuses on providing wealth management solutions to successful business owners, professionals, and corporate executives in the Atlanta metro area. Working closely with his clients, he helps them address their major concerns: building and preserving their wealth and independence, mitigating taxes, taking care of their heirs, ensuring that their assets are not unjustly taken, and charitable giving.
Click here to schedule your complimentary 30-minute introductory call.
CATHY C. MILLER
MBA, CFP®, CRPS®, CDFA™
Cathy’s passion for helping others in their financial lives began when, at age 23, she lost her mother to a drunk driver. As she watched her father struggle to understand and take over the family finances while dealing with the loss of his life partner, she realized what a difference a financial advisor would have made in her family’s life. She dedicated herself to helping clients capitalize on the good times and deftly navigate the bad. She realizes life’s journey isn’t always a smooth one, but is committed to working hand in hand with her clients to make their life’s journey richer.
JULIANNE F. ANDREWS
MBA, CFP®, AIF®
Julianne Andrews co-founded Atlanta Financial Associates in 1992. With 30 years of experience in the financial planning industry, Julie demonstrates her unparalleled commitment to her clients by developing sophisticated solutions that address the financial needs of highly successful physicians, professionals and individuals at or nearing retirement. Her passion for working with physicians comes from being a pediatrician’s spouse for more than three decades. Her experience as a Wealth Manager in combination with her first-hand view as the spouse of a physician provide Julie with a deep understanding of the challenges the changing healthcare landscape presents and how they impact a physician’s financial well-being.