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 has spent more than 25 years pursuing her passion for helping clients through periods of transition, including the unplanned transition of the loss of a spouse or divorce, the much anticipated transition of retirement, or the sale of a business. Cathy’s clients include corporate executives, professionals, entrepreneurs, women in transition, and retirees. She utilizes state-of-the-art strategies in wealth management, financial planning, asset protection, and tax planning to help her clients build solid financial game plans for their future so that they might realize their goals and dreams.
JULIANNE F. ANDREWS
MBA, CFP®, AIF®
In 1992, Julie founded Atlanta Financial Associates with Cathy. Today, with more than 25 years of experience in the financial planning industry, Julie specializes in the financial needs of highly successful physicians, professionals, and individuals at or nearing retirement. Her expertise includes holistic financial planning, comprehensive wealth management, and asset protection and taxation strategies.