Small Business Healthcare Offerings for most businesses is dificult. We all know that healthcare is a basic need for families. Business managers want to attract quality employees to their firm by providing insurance coverage. To offer an affordable insurance option while controlling costs has become a cost-benefit analysis balancing act. We can help with this task and reduce costs: http://www.flexaffiliates.com/plan/BWI-Flex/index.php.
Group Disability Insurance covers illness and sickness events that occur, more often then do events surrounding home mortgage insurance claims. Most people pay their mortgage insurance without thinking further about why they need it. Yet twenty-five percent of the working population will experience an accident or illness that will prevent them from working for three months or longer during their working years. Forty-eight percent of all mortgage foreclosures are a result of a primary wage earner becoming sick or hurt. Despite these facts, many small businesses don't offer disability insurance to their employees. An employer provided group long-term disability plan covering these events for all employees can prove to be more affordable than you might think.
Group Life Insurance as a basic provided benefit with an option for employees to purchase additional amounts via payroll deferral for themselves and their dependents, is the first step in a well designed personal family financial plan.
401(k) and Profit Sharing Plan education, support and design can make a big difference in the success of your company's retirement plan. If employees participate with payroll deferral contributions, managers and owners can reach their desired maximum deferral limit.
A Succession Plan wth an ESOP (Employee Stock Ownership Plan) is a tax qualified trust that can prove to be a good fit for the right sized business. If your company has an ESOP, our funding sources offers unique opportunities for the sponsor. An ESOP retirement trust allows employees to purchase the stock of an employer with payroll deferral, matching and / or profit sharing contributions. A key benefit of setting up an ESOP is to help motivate managers to protect the business and behave in a manner more like business owners do.
A bank loan can help to expand the uses of an ESOP. A leveraged ESOP may help the trust buy stock from the owner(s) as a way of helping convert their equity into: new capital for expansion; retirement income; or simply to diversify an owner's asset holdings. If a partner is deceased, the owner's estate may find leverage for a profitable business through a tax qualified plan when valid outside buyers have not been identified. If a merger and acquisition plan fails, an ESOP can help find a ready buyer at a fair price. The consultation of an attorney is required for the trust. Additionally, an accountant is needed to file taxes and locate adequate annual business valuation services. This overhead makes an ESOP option less viable for smaller companies. Our services help the business fund an ESOP in the event of an owner's unfortunate event.
A Business Succession Plan using a buy-sell agreement or trust can help avoid disruptions of a business in the event of a disability or death of a partner. In addition, it assists business operational continuity when the primary shareholder retires. A buy-sell agreement can also peg the value of the business for estate planning purposes (see IRC sec. 2703). We offer many choices to solve and fit into your succession and business owner retirement plans. If you need an insurance review; a policy rescue evaluation; a trust sinking fund or alternative solution; or an informal business valuation for insurance purposes; phone us. Don't let the business falter, for lack of planning.
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