Corporate Benefit Plans
It's good business for small businesses to plan for the future!
Some of the financial concerns of business owners, executives are most concerned about is maintaining their standard of living and preserving their wealth. The good news is that business owners don't have to worry, we can help you prepare for the future with life insurance. With life insurance a business owner will understand the many ways in which the death benefit and potential cash value can help them ensure that, for their business, life will go on.
Executive Bonus Plan
The highlight of an executive bonus plan is that the employer pays premium to provide life insurance coverage to key employees and owners. The purpose of an executive bonus plan is to help retain valuable employees and provide permanent, tax-free death benefit protection and tax-deferred savings for retirement.
Appropriate business entity:
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Sole Proprietorship
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Limited Liability Company (LLC)
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Partnership
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S Corp
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C Corp
Buy-Sell Agreement
The highlight of a Buy-Sell (cross-purchase) is that each owner purchases life insurance on the owner(s) to buy and sell their respective business interest. A Buy-Sell (entity-purchase) purchases life insurance on the owners to redeem deceased owners' business interest. The purpose of a buy-sell agreement is to use the proceeds to buy the business interest from the deceased owner's estate.
Appropriate business entity:
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Limited Liability Company (LLC)
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Partnership
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S Corp
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C Corp
Cost Segregation
Cost segregation is an engineering based study, that permits commercial real estate owners to reclassify real property for depreciation purposes and reclassify it as more rapidly depreciating personal property. This reclassification results in significant cash flow benefits in both present and future years through considerably shorter depreciable tax life and accelerated depreciation methods.
Target Industries: Hotels, Restaurants, Apartment/Office Complexes, Shopping Malls, Manufacturing Facilities, Funeral Homes, Car Dealerships, Golf Courses, Grocery Stores and Medical Facilities
R & D Tax Credit
We utilize a team of highly qualified professionals including IP attorneys with engineering backgrounds and adhere to the Comprehensive Project by project Approach methodology as required by the IRS. By following this methodology, we qualify every application employee, activity, hour spent and corresponding wage paid in order to maximize the incentive for our client.
Target Industries: Manufacturing, Engineering, Software, Chemical & Pharmaceutical Companies
Key Person
The highlight of a key person life insurance plan is to protect the business against financial loss in case of a key person. The purpose of a key person plan is generating tax-free money to reimburse the business so it can recruit, hire, and train a replacement.
Appropriate business entity:
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Sole Proprietorship
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Limited Liability Company (LLC)
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Partnership
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S Corp
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C Corp
Property Tax Mitigation
Most companies consider property taxes to be a fixed cost. However, a review of real and personal property tax assessments often results in the identification of opportunities for lower property tax bills. A property tax review can result in savings up to 10%-25% or more of the total real and personal taxes paid.
Target Industries: Hotels, Retirement Homes, Retail Plazas, Grocery Stores and Office Complexes
Deferred Comp. Plan
The highlight of a nonqualified deferred comp plan is to provide supplement retirement, death, and/or disability benefits to key employees. The purpose of a nonqualified deferred comp plan is for personal insurance funds the corporation's obligations to pay benefits to key employees
Appropriate business entity:
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S Corp
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C Corp
Worker Comp Insurance Audit
Our Work Comp Audit identifies and recovers workers' compensation premium overcharges by reviewing the past five to seven years of classification, experience rating calculations and premium audit calculation. Our experience indicates that over 70% of all companies have been or are currently overcharged.
Target Industries: Any company with a workers compensation premium of $50,000 or above