A successful multi-generational family owned business owner, he faced high income tax burdens, employee retention and the challenge of passing the business to the next generation. To address these issues, a Cash Balance Plan was implemented to reduce current taxable income and provide retirement benefits for both the owners and employees. A group benefits plan was designed to improve employee retention, offering health, life, and retirement benefits. Finally, a succession plan was established, incorporating gradual ownership transfer using installment sale to tax efficiently to ensuring the business was passed down smoothly and efficiently.

A husband and wife, both successful business owners with significant assets and a young child, came to us without any tax, financial, investment, or estate planning in place, leaving them vulnerable to estate taxes and business risks. We promptly implemented income tax strategies to reduce their current liabilities, worked closely with an attorney to establish an S Corporation to protect their business from personal liability and enhance tax efficiency, and set up various trusts to preserve their assets while ensuring their child’s financial future. Additionally, we arranged for a life insurance policy through an Irrevocable Life Insurance Trust (ILIT) to address potential estate tax liabilities, keeping the proceeds outside their taxable estate. 

Two dental partners, who owned multiple locations, approached us with the goal of retiring early. They desired more freedom, wanted to work less, and still maintain their current lifestyle without the stress of managing their businesses. Several private equity firms had already approached them with various buyout offers. We worked closely with the partners, taking into account their individual financial situations, and developed a tailored roadmap that included a partial business sale. Additionally, we implemented multiple tax-efficient strategies to minimize the capital gains from the sale, ensuring they could pursue their retirement goals while preserving their wealth and lifestyle.