Financial & Retirement Planning for Business Owners
Setting You Up For Financial Freedom
Financial Planning is the ongoing process to help make sensible decisions about money and managing risks based on a review of an individual’s goals and objectives to structure a plan for their financial freedom.
Our team works with you with goals of organizing your financial picture, optimizing cash flow, and implementing advanced tax-efficient strategies with the goal of keeping more of what you earn. We also guide you in choosing and designing a retirement plan that aligns with your goals, your business structure, and your future vision, whether you’re planning for growth, preparing for transition, or simply aiming to build long-term financial freedom. Our focus is to simplify the complex decisions you face as an owner and provide a plan that gives you clarity, confidence, and direction.
Strategic Retirement Planning for Business Owners
Qualified Retirement Plans are employer-sponsored savings programs that help employees prepare for their financial future while providing valuable tax advantages for the business. We guide employers through every step, from plan selection and design to compliance and administration, with the goal of ensuring your plan is efficient, well-managed, and aligned with your goals.
We create side-by-side cost comparisons across leading recordkeepers, evaluate plan features, and make sure your business is in the most cost-effective and compliant strategy possible. As a fiduciary in advisory relationships, we take on that responsibility for you, overseeing investments and administration to help safeguard your company from unnecessary risk.
- 401(k) Plan
A 401(k) is one of the most popular and flexible retirement plans for employers and employees alike. It allows employees to contribute pre-tax income toward their retirement savings, with the option for employer matching contributions.
Benefits:
Higher contribution limits than many other plans
Optional employer matching or profit-sharing contributions
Potential for plan loans and Roth contributions
Eligible for startup and employer contribution tax credits under the SECURE Act 2.0
- SIMPLE IRA
A SIMPLE IRA (Savings Incentive Match Plan for Employees) offers an easy, tax-advantaged way for small businesses to help their employees save for retirement. Employees contribute pre-tax dollars, while employers make either a matching or fixed contribution each year.
Benefits:
Straightforward setup and low administrative costs
Tax-deferred growth on contributions
Federal tax credits may offset startup and employer contribution costs
- SEP Plan
A SEP IRA (Simplified Employee Pension) is a flexible plan designed for small businesses or self-employed individuals. Only the employer contributes, making administration and budgeting predictable.
Benefits:
High contribution limits (up to 25% of compensation, within IRS limits)
Tax-deductible employer contributions
Easy to establish and maintain
- Profit Sharing Plan
A Profit Sharing Plan allows employers to share company profits with employees by making discretionary contributions to their retirement accounts. Employers can decide each year how much to contribute based on business performance.
Benefits:
Encourages employee loyalty and engagement
Tax-deductible employer contributions
Flexible contributions tied to company success
- Defined Benefit Plan
A Defined Benefit Plan (traditional pension plan) provides employees with an anticipated benefit at retirement, typically based on salary and years of service.
Benefits:
Highest contribution limits of any qualified plan type
Anticipated retirement income for employees
Significant tax deductions for employers
Business Owner?
We offer a variety of additional services designed to support business owners at every stage.
Servicing Businesses Nationally
Comprehensive Financial Benefits in partnership with My Benefits Advisor, is Insurance licensed in nearly all states across our country with nine customer service and operations offices spanning from New York to California. We provide convenience for our clients with employees in multi-state locations.
Benefit Consulting in today’s compliance heavy environment must go beyond the basic presentation of rates and benefits. We provide strategies around contributions, voluntary offerings, and employee communications as an integral part of the process to make sure employers satisfy all their legal obligations around Healthcare Reform and ERISA. We have on staff Licensed Insurance & Investment Specialists, ERISA Attorneys and Human Resource Professionals that will coordinate a successful employee benefits program for our clients that will best service the needs of their employees while keeping an eye on the bottom line.