Business Owners
Establishing and growing a business can be a rewarding experience, but owning a business also carries the weight of making a plethora of decisions. In order to live with peace of mind, it is important to consider the future of your business, your family, and your employees. Many of these decisions could be undetermined or placed on the back burner as running your business demands the majority of your time as a business owner.
Although you may have considered these choices, without adequately tackling them, your business, your future, and the future of your family are at risk. It is difficult to plan for your future if you are not aware of the worth of your business today as well as what it might be worth in the future, so it is best to begin to extract some of your business value now, rather than down the road.
We advise business owners regarding tax reduction, risk mitigation, and expense reduction, while helping them extract value from their business during their growth stage. This proven process allows owners to protect, optimize, and sell the business for what its highest value, so owners are able to retire with ease. We help business owners increase their bottom line by as much as 50% by reducing unnecessary taxes and business expenses.
Becoming educated on the benefits and retirement options available to you will help protect your business and family, while boosting recruitment and retention, and offering new methods to increase employee satisfaction. We collaborate with you and our team to identify your needs in order to develop a plan that works for you and your business.
Why do only two percent of businesses have valuations? It’s expensive, time consuming, and it is reviewed offline. Our system is online and quick. It has been benchmarked by dozens of companies, including KPMG and Equifax. It utilizes more data sources than any of its competitors and processes industry comparatives, multiples, and transaction history to deliver a valuation to you in real-time, so you can plan for your today and tomorrow.
“98% of businesses don’t know their business value. Yet, 78% of business owners plan to fund their retirement 80% to 100% through the sale of their business. ”
Decrease Taxes
In our experience, almost every business owner we have ever met had an opportunity for decreasing taxes, ultimately increasing their bottom line. We consult with your CPA and other advisors to ensure that every possible angle is being explored, especially advanced tax strategies.
Mitigate Risk
Just like having and reviewing your various business insurances is important. It is equally important to look at your personal insurances and confirm that they are the right fit for you. You do not want to find yourself exposed in any area when it is too late.
Reduce Expenses
By utilizing our team of specialists, business owners can potentially outsource certain tasks, thereby adding more efficiency to their business while also reducing total expenses, which could reallocate additional profits back in the business owner’s pocket.
Questions to Consider
Will my business survive if I die or become disabled?
How will my family live if I die or become disabled?
What is my business worth?
If key employees die or become permanently disabled, will my business recover?
How can I appeal to and retain the best employees?
How can I protect my business from unexpected financial hardships?
What will happen to my business when I retire?
Business Valuation
We help business owners obtain real-time valuations and risk reports, and once reviewed thoroughly, we develop plans that will fulfill their financial future, regardless of whether the business is there to support their future or not. Our system is online and quick. It has been benchmarked by dozens of companies, including KPMG and Equifax.
Employee Benefits
Your employees, especially the key ones are your human capital for your growth. We can provide best-in-class benefits for all your employees, such as health insurance, critical care coverage, and 401k plans. We also provide education regarding employees’ investing for retirement, which allows them to participate at a greater level.
Executive Benefits
If your stage of business or the make-up of your business does not warrant full fledged employee benefits, or if you realize that those plans do not afford you and your executives to fully extract value out of your business, we have access to non-qualified plans that bypass the IRS nondiscrimination rules and we can help you create tax favored strategies to build wealth for yourself and your best executives, that are also healthy for your business balance sheet.
Elevate Planning does not offer legal or tax advice. Please consult the appropriate professional regarding your individual circumstance. Not associated with or endorsed by the Social Security Administration or any other government agency. Fixed Annuities are long term insurance contacts and there is a surrender charge imposed generally during the first 5 to 7 years that you own the annuity contract. Withdrawals prior to age 59-1/2 may result in a 10% IRS tax penalty, in addition to any ordinary income tax. Any guarantees of the annuity are backed by the financial strength of the underlying insurance company. Pursuant to requirements imposed by the Internal Revenue Service, any tax advice contained in this communication (including any attachments) is not intended to be used, and cannot be used, for purposes of avoiding penalties imposed under the United States Internal Revenue Code or promoting, marketing or recommending to another person any tax-related matter. Please contact us if you wish to have formal written advice on this matter.