Let’s get down to business:

Want to save more money pre-tax? Attract and retain great employees? Ensure other companies’ benefit packages don’t poach your workforce?

What about healthcare coverage for your group? Is it better than individual coverage? Will it provide more loyalty from your current employees? Are there tax advantages to providing it?

Is your company completely self-sufficient yet? Do you need to be around for it to function or can you leave on a vacation and come back without issues?

What’s your exit strategy? Will you pass it off to your kids? Have an employee take over? Sell it outright to another company?

Do you have a key person in the company that you’d be devastated (emotionally and financially) to lose? Is “key-person life insurance” cheap enough to consider? Does anyone get a tax advantage for that?

What if you have multiple owners? Is your current buy-sell agreement robust? Is the company valuation formula up to date and still relevant? Are there any new lines of business that might skew the actual value? What about the life insurance you purchased 10 years ago – is it sufficient to cover the company’s value today? Do you really even need a buy-sell agreement?

Is a 401k a good idea for your company? Its possible you already have a 401k– are the investments reasonable and fees low? If you don’t have anything to compare it against, how do you know? Should your personal investments and your 401k be similar or have different strategies?

Wow, that’s a lot of questions – questions you may or may not have the time and energy to answer. Some can be solved within a few days or weeks, while others can take years and decades to complete.

Not only do business owners face unique challenges, but they also have many unique opportunities that they can take advantage of. If you are a business owner, partner, or independent consultant, give us a call today for a complimentary first meeting. Learn why others like you have been with us for 30+ years.

Martin Konsor
Woodfield Financial Advisors

847-726-9600