Business Planning
Business Planning

Personal Financial Advisors for Small Business Owners

If you’re a small business owner, doing your personal and corporate books can be doubly taxing.

With EP Wealth Advisors’ help, you can simplify the process by integrating your business and personal planning— in an attempt to find synergies that may create more personal wealth. This often includes a combination of strategies that may help reduce taxes and enhance the value of your business.

Building Financial Strategies for Small Business Owners

We build financial strategies intended to help business owners create personal wealth by:

  • Reducing or deferring taxes
  • Maximizing retirement benefits
  • Moderating risks
  • Planning for business transition

No guarantee or warrantee can be made that any strategy offered, developed, or referenced herein will increase personal wealth or offer positive results. All Investment and Financial Planning strategies are subject to profit and loss.

EP Wealth Advisors Business Planning Process: 8 Easy Steps

Discovery and Business Analysis: We embark on a discovery period
to fully understand your business and identify areas for financial opportunities.

Evaluate Corporate Structure: We will work with your CPA and attorney and evaluate the effectiveness and benefits of your corporate structure.

Cash Flow Analysis: We will review your financial statements and coordinate with your CPA to determine any opportunities to implement financial planning strategies.

Risk Management: We will review both your personal and professional insurance policies to ensure you are adequately protected in your personal life and through your business.

Optimizing Retirement Plans for You and Your Business: We will help identify different types of retirement plans that make sense for your business and what their potential benefits are.

Types of Retirement Plans May Include:

  • 401(K) Defined Contribution Retirement Plan
  • Defined Benefit Pension Plans
  • Defined Benefit/ 401(K) Defined Contribution Combination Plans
  • Profit Sharing Plans
  • Cash Balance Pension Plans
  • SEP IRA Retirement Plan

Finalize and Implement: We will communicate with your CPA and attorney to help implement the appropriate strategies.

Monitor: We will monitor the evolution of your business and continue to find appropriate solutions designed to meet your ever-changing goals.

Exit: We will partner with your CPA and Attorney to explore exit options that may suit your needs and outline a plan of action.

10 Common Mistakes for Business Owners to Make When It Comes to Their Business Finances

  1. Paying themselves more than they need.
  2. Using their Business Account for personal expenses
  3. Not taking advantage of low interest rates and depreciation, when available
  4. Not having the correct corporate structure
  5. Not having a succession and tax plan – Read more on succession planning here!
  6. Using liquid funds to make illiquid purchases
  7. Not having the appropriate retirement plan or any retirement plan.
  8. Not having a good bookkeeper
  9. Not delegating or hiring a financial professional
  10. Not having appropriate insurance plan

Are You A Small Business Owner Seeking A Personal Financial Advisor?

Contact us today and we will get you connected with one of our EP Wealth Advisors!

 
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