Business Planning can be complicated. There is a constant conflict between the business owner's decisions to the creation of Business Wealth v. Personal Wealth. It is important that decisions made for and within the confines of the business do not preclude the ultimate accumulation of useable, personal wealth at the business owner's time of retirement. Realizing that financial decisions are interdependent between the business welfare and the welfare of the employees as well as that of the business owner is the start of the Strategic Master Plan we tailor for each specific, and individual, business client. As in Personal Planning, there is no "one size fits all" answer for everyone.
We offer our Business Planning Services not only to individual Business Owners thru Financial Synergy, but as a resource for other professionals and consultants for use with their client's thru their companies. Payment for Business Services may be fee only, commission only, or combination based. We are Pay Pal Verified.
Tax Preparation and Strategic Planning
We offer a complete range of tax preparation services for our clients. This allows us to bring a unique perspective to the total planning process. It also allows us to verify and modify on a timely basis, many tax strategies that might be incorporated into your plan. Additionally, many client's use "tax preparation time" to coincide with an annual strategic review and evaluation of their current financial decisions - an efficiency in and of itself. Financial Synergy, Inc and David Marrone became Registered Tax Return Preparers with the IRS in 2012. In 2014 David met the requirements to become an Enrolled Agent. As an Enrolled Agent, David has unrestricted practice rights and may represent clients before any office of the IRS regarding any matters including audits, payment/collection issues, and appeals.
Providing an employee benefits package that includes quality, affordable health care coverage continues to be one of the greatest challenges for today's employers. We put our considerable experience in this field to work on delivering alternatives to our clients. We evaluate the design of different benefits packages to achieve the best pricing structure and advice on implementing such options as cafeteria plans that allow for employee cost-sharing through tax deductible contributions. As well, we administer the benefits program, assisting employers with the claims filing procedure.
A Buy-Sell Agreement is simply a written agreement made between the partner or shareholders of the business specifying buy out provisions caused by such things as death, disability, divorce, bankruptcy, voluntary termination, company dissolution, etc. The execution of a Buy -Sell Agreement secures a number of very tangible benefits for the shareholders, including:
- Continuity of management and control for the remaining owners
- A ready market for typically non-marketable business interests
- Liquidity to the decedent's estate for estate taxes and administration costs
- A fair valuation of the business interest for federal estate tax purposes
- A fair return to the decedent's estate for his/her business interests
Business Succession Planning
A key goal of many of our business owner clients is to someday transfer their business interest to either family members or key employees. Properly done, this type of planning can offer to both the current and successor owner a worry free, tax efficient method of business succession.
Furthermore, the loss of a business owner through death or disability can catch even the most efficiently managed small companies off guard and, worse, unprepared to deal with the repercussions. Family businesses, in particular, are susceptible to erosion of capital due to estate taxes and legal fees; not to mention the possible hurdles of voting control being scattered among heirs, with conflicting points of view impeding the business' operation and growth.
We can provide a professional evaluation of your current situation that will help avoid future problems. Involved in business succession planning.
Non-qualified deferred compensation programs, typically employed to provide supplement retirement benefits to senior management, include selective incentive plans, wherein the company makes contributions to fund the plan on behalf of selective employees. Executive Compensation plans are a popular vehicle to attract and retain key individuals of your company.
Risk Management Analysis
Implementing a risk management program is fundamental to a company's ability to protect itself against the loss of key personnel through death or disabling injury or sickness. We offer expertise on selecting life and disability insurance coverage for such a program.
We conduct a financial security analysis to determine the appropriate protection for companies and their key executives, which encompasses evaluating risk management needs and balancing them with living or wealth accumulation objectives. We design risk management programs to be affordable, to fill corporate and individual needs, and to be flexible enough to allow for a change as needs change. Our analysis also involves a review of any existing coverage to ensure it is cost effective and includes up-to-date features.
Through risk management analysis, we can deliver solutions in the form of policies valued and designed according to our clients' needs.