/Tag: retirement planning

Tax Implications When Retiring to a Different State

By |2020-06-05T18:57:19+00:00April 24th, 2017|Categories: Tax Planning|Tags: , , , , , |

When you retire, you may consider moving to another state — say, for the weather or to be closer to loved ones. State taxes also may factor into the equation. Here's what you need to know about establishing residency for state tax purposes — and why the process may be more complicated than it initially [...]

Millennial employees might be more interested in a Roth 401(k)

By |2017-05-24T13:42:04+00:00December 5th, 2016|Categories: Business Advice|Tags: , , , , , , |

Could your company’s benefits package use a bit of an upgrade? If so, one idea to consider is adding an option for employees to convert their regular 401(k)s to Roth 401(k)s. Under a Roth 401(k), participants make after-tax contributions to a qualified plan and receive tax-free distributions, provided the funds are in the plan for [...]

Retirement Plan Options for Your Business

By |2017-05-24T13:42:22+00:00September 17th, 2014|Categories: Business Advice, Succession Planning|Tags: , , , , , |

Does your business offer a retirement plan for employees? If not, it may be time to consider setting one up. A retirement plan may be beneficial for several reasons. It can help you to recruit employees as part of your overall compensation package, and can help your employees by giving them a tax-advantaged way to save for their retirement.

10 Ways to Prepare for Retirement at Any Age

By |2017-05-24T13:42:24+00:00May 21st, 2014|Categories: Articles, Estate & Trusts, Succession Planning, Tax Planning|Tags: , , , , , , , , |

When should you start planning for retirement? Many people start saving in their 20’s but it is never too early or too late to start. Fortunately the tax law provides subsidies to help people save for retirement. Below are 10 ideas for you to consider as you are either starting your journey, towards the end, [...]

Are you a Baby Boom Entrepreneur?

By |2017-05-24T13:42:26+00:00March 12th, 2014|Categories: Articles, Business Advice, Succession Planning|Tags: , , , , , , |

The oldest of the baby boomers—born between 1946 and 1964—currently are winding down their careers, including thousands of business owners. Unlike previous generations, however, baby boom entrepreneurs are expected to face fierce competition when courting potential buyers. With approximately 25% of the total US population made up by baby boomers (as of 2011), many as [...]

Business Succession Planning at Year End

By |2017-05-24T13:42:30+00:00December 30th, 2013|Categories: Articles, Business Advice, Succession Planning|Tags: , , , , , , , |

Year end is a time of planning for many business owners. Right now, your borrowers are strategizing about ways to grow, minimize tax and budget for the year ahead. An important part of this process is succession planning and preparing the next generation of management for what lies ahead. You, of course, have a vested [...]

The Role of ESOPs in Retirement Planning

By |2017-05-24T13:42:31+00:00October 16th, 2013|Categories: Articles, Business Advice, ESOPs, Estate & Trusts, Succession Planning|Tags: , , , , , , , , |

Most business owners have a lot of wealth tied up in their companies. If you’re in the same boat, how can you convert some of that wealth into cash to help pay for your retirement? Many C corporation owners have found that an Employee Stock Ownership Plan (ESOP) — a qualified retirement plan, similar to [...]

2- Succession and Estate Planning For a Fruitful Retirement

By |2017-05-24T13:42:43+00:00March 14th, 2012|Categories: Articles, Estate & Trusts, Succession Planning|Tags: , , , , , , |

In my previous post I talked about assessing where you are and planning for succession. In this discussion I want to cover your estate plan and picking the right partners. Think retirement The first considerations for retirement planning are your health, lifestyle and any financial obligations. You will use these to determine your required revenue [...]

1- Succession and Estate Planning For a Fruitful Retirement

By |2017-05-24T13:42:43+00:00March 12th, 2012|Categories: Articles, Estate & Trusts, Succession Planning|Tags: , , , , , |

You’ve worked for many years to build a successful company, and now you’re starting to think about retirement. To ensure a smooth exit from the workplace, establish your retirement and estate plans now — well before you’re ready to sell or transfer your business. Early planning will help ensure that you adequately provide for your [...]

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