As an entrepreneur, are you taking the proper steps to mitigate taxes, protect your assets? You must have a laser focus on running the business efficiently and effectively. When managing your core business, constructing a simple financial plan for the business may have taken a back seat. While there are nuances to every business, all business owners need to make sure taxes are minimized, and your assets are protected. Below are a few priorities to consider, and questions to contemplate.
Priorities
- Taxed Advantaged Retirement Planning
- Long Term Care Planning to protect Business Assets
- Business Succession Planning
Questions
- Are you maximizing your qualified money tax write-off?
- Is Long Term Care (LTC) part of your financial plan? LTC can be run through the business in a tax advantaged manner.
- Are there people to whom you want to transfer the business when you retire? Is there a succession plan?