Small Business Services
There are a variety of ways in which Small Business owners and employees can benefit from the services provided buy our financial professionals. If you would like more in depth information, please call us for an appointment to assess your needs further.
Small-Business Services
- Portfolio Analysis
- Retirement planning for Employer and Employee- new plan or review of existing plan
- Insurance
- Life, including “Key Man” insurance
- Disability
- Long-Term Care
- Business Succession Planning
- Charitable Donation Planning
Small-Business Retirement Plans
“Many business owners are so busy running their companies that they don’t plan for their own financial success. Hoping to someday sell your business and live off the profit is not a sound retirement strategy.” –Success Magazine, 2010
As an employer, a company retirement plan may help you:
- Save for your own retirement
- Receive tax credits and other incentives from the federal government
- Attract – and keep- better employees
- Realize increased worker productivity, especially if you plan is connected to company profits
- Deduct all employer contributions from current taxes
401(k) Plans
Available to any employer (except government entities)
Advantages of a 401(k) plan:
Employer:
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Participants:
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*Employers have limited liability because accounts are set up for each eligible employee and participants control their own investment choices.
Solo 401(k) Plan
Available to self-employed individuals and owner-only businesses and partnerships
Advantage of Solo 401(k)
- Tax-deferred growth, tax-deductible contributions, and pre-tax deferral contributions.
- Salary deferral contributions with catch-up provision.
- Profit sharing contributions up to 25% of compensations to the annual maximum.
- Cost effective administration.
Simple IRAs
Available to any employer with fewer than 100 employees
Advantage of Simple IRAs:
Employer:
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Participants:
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*Employers have limited liability because accounts are set up for each eligible employee and participants control their own investment choices.
SEP IRA Plans
Any employer or sole proprietor
Advantages of a SEP IRA Plan:
Employer:
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Participants:
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*Employers have limited liability because accounts are set up for each eligible employee and participants control their own investment choices.
Payroll Deduction IRAs
Available to any employer or sole proprietor
Advantages of a Payroll Deduction IRA plan:
Employer:
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Employees:
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*Employers have limited liability because accounts are set up for each eligible employee and participants control their own investment choices.