Financial Concerns for Businesses
By Chuck Davis, CLU, ChFC
Growing businesses face a myriad of financial challenges. Typically the CEO concentrates on day-to-day operations and finds it difficult to effectively manage and plan for long-term goals. In addition, every business benefits from preparing a secure plan that addresses the crisis that will inevitably occur in a company environment.
Some of the typical challenges and concerns that most businesses face include:
Asset Protection - It is important to protect your hard work and earnings. What are the risks to my assets? They include market volatility, health care costs, inflation, and predators. All of these risks can be addressed successfully with proper planning and strategies.
Our team at Main Street Financial, Inc. delivers valuable insight on the concerns that all businesses encounter. We provide guidance, advice, and solutions for the best outcomes.
Some of the typical challenges and concerns that most businesses face include:
- Healthcare Costs – Would you like to have quality protection and affordable premiums?
- Disability - There is always the possibility of disability. Should I self-insure or transfer
the risk? - Income Tax Planning – Now that I am making money, the taxes are too high. What do I
need to know regarding income tax planning to reduce my tax burden? - Retirement – If I make it to retirement, can I afford to stop working? Should I take a
deduction now and pay taxes later or do I have the option of a tax-free retirement?
Where do I save and invest my earnings? - Fringe Benefits – What’s on the menu of tax favored benefits for me and my
employees? - Business Planning – Should I keep the company or build to sell? What is exit planning?
Can it be profitable? Do I have a key person who is integral to my business? - Life Insurance – You will either die with life insurance or without it. What types are
available to me? How much do I need? - Estate Planning – Your estate is the accumulation, preservation, and distribution of your
net worth. Do I possess adequate income, how can I avoid excessive taxes on the transfer of funds, and do I have current documents on file to support my estate plan?
Asset Protection - It is important to protect your hard work and earnings. What are the risks to my assets? They include market volatility, health care costs, inflation, and predators. All of these risks can be addressed successfully with proper planning and strategies.
Our team at Main Street Financial, Inc. delivers valuable insight on the concerns that all businesses encounter. We provide guidance, advice, and solutions for the best outcomes.
Chuck Davis, CLU, ChFC, is the Managing Principal of Main Street Financial, Inc. Our mission is to assist businesses with building financial sustainable financial security. Our process provides guidance, advice, and solutions for the private business owner and individuals.
chuckbpw@gmail.com, www.mainstreetfinancialinc.com, 843.830.0555
chuckbpw@gmail.com, www.mainstreetfinancialinc.com, 843.830.0555