Less than 20 Employees
Less than 20 Employees
Simple IRA’s allow employees and employers to contribute to traditional IRAs set up for employees. It is ideally suited as a start-up retirement savings plan for small employers not currently sponsoring a retirement plan.
- A well-designed profit sharing plan can help attract and keep talented employees.
- A profit sharing plan benefits a mix of rank-and-file employees and owners/managers.
- The money contributed may grow through investments in stocks, bonds, mutual funds, money market funds, savings accounts, and other investment vehicles.
- Contributions and earnings generally are not taxed by the Federal Government or by most state governments until they are distributed.
- A profit sharing plan may allow participants to take their benefits with them when they leave the company, easing administrative responsibilities.
Nonqualified Deferred Compensation Plan
Deferring this income provides one tax advantage: You don’t pay federal or state income tax on that portion of your compensation in the year you defer it – (you pay only Social Security and Medicare taxes), so it has the potential to grow tax-deferred until you receive it.
Life insurance is a contract in which an insurer, in exchange for a premium, guarantees payment to an insured’s beneficiaries when the insured dies. That beneficiary could be your spouse, children, business, business partner or Trust.
Disability Insurance (Long and Short Term)
As business owner the protection of your ability to earn an income, is vital. In most cases, your business is dependent on you being present and capable of fulfilling all your duties both mentally and physically.
Health insurance is of vital importance for essential and nonessential procedures, illnesses, Dental and eye care, accidents, and general peace of mind for the unforeseen medical emergencies we all may encounter at some point in our lives.
Critical Illness Insurance
Critical illness can be used by business owners, to enhance an employee’s salary package with the company or as an incentive subject to terms and conditions.
Key Person Insurance
The reason this coverage is important is because the death of a key person in a small company can cause the immediate death of that company. The purpose of key person insurance is to help the company survive the blow of losing the people who make the business work.
Does this category best suit you? Would you like to chat to one of our advisors about how we can best serve you in this area?