Whether you own a construction company, a software firm, a cafe or a legal practice (or any other type of business for that matter), you need to have a plan for your money.
The problem is, most financial strategies and traditional financial plans are designed for employees not entrepreneurs.
The financial needs, risks and opportunities for Entrepreneurs & Business Owners are different from those of the general public. ‘Off the shelf’ advice aimed at the masses just won’t cut it.
When we meet you, we’ll get a complete picture of you and the business, the direction you’re going and where you want to be.
We’ll work together to review your finances and build a financial plan to help you achieve your financial goals.
Financial Advice to Build Your Wealth & Protect Your Assets
- Building your financial plan
You have varying roles – employer, manager, partner, shareholder, parent and spouse. Your plan will cover each area of your financial needs and make sure you’re protected. - Investment & Savings strategy
We provide a rigorous investment advice process designed to meet with your financial needs (such as third level education funding) and recommend that you adopt a structured approach to any long term savings or investment plans to ensure you meet your goals.
- Protection Planning
Our protection planning advice comprises of long term planning and periodic reviews. We’ll review your existing cover to see if you are over or under covered. We’ll compare the market to see if you are paying more than you have to for your current cover and will identify if there any gaps in your cover that leave you exposed. - Business Protection
The death or serious illness of key executives or shareholders may have a detrimental impact on the ongoing viability of companies, especially smaller firms. We advise firms of the structures necessary to plan for such contingencies. - Corporate Deposits
Is your bank paying 0% interest on your business deposit account (or charging you for the privilege of minding your money)? There are low risk alternatives offering easy access to your funds when you need them and better potential investment returns for your retained earnings. - Inheritance Tax Planning
Whether you are expecting an inheritance or would like to plan for your own children’s inheritance, we will advise you on the tax efficient options available to you. - Pensions & Retirement Planning
Retirement isn’t about age. It’s about money. We’ll create a retirement plan so you can retire when you want to. Some business owners want to retire early, some never want to give up work at all. Whatever your plans are, we’ll advise you how to use the Retirement Legislation to maximise the tax and investment benefits available to you as a business owner.
- Business Pre-Exit Planning
If you or your partner decide to exit the business in the future how prepared will you be? We’ll help you prepare in advance and plan ahead to make sure you qualify for favourable tax reliefs which are open to businesses and their owners. - Business Post-Exit Planning
When you exit the business you need to protect and grow the proceeds. We’ll advise you on investment strategies post-exit. - Wealth Extraction from the Business
We help business owners plan to extract business profits into personal wealth in a tax efficient manner. - Avoid ‘On the Spot’ Fines
If you have any employees whether full time, part time, fixed contract or even seasonal you are required by law to provide access to a PRSA or pension scheme for your employees. Failure to register with an approved provider or failure to comply with the ongoing rules when the scheme is in place can result in avoidable ‘on the spot’ fines. The Pensions Authority can issue fines for failure to comply with the Act, of €2000 for each and every offence.
We create Wealth Plans for Business Owners that address the need to protect the business, take advantage of the tax laws, maximise the return from company investments and address pension planning and wealth extraction for the directors.
It all starts with a 15 minute call with a wealth planner. Book in a call time and let’s see if we are a good match for each other. The initial call is at our expense.
Book in a 15 minute Zoom Call or Phone Call:
Have you protected yourself against the Top 6 ‘Wealth Killers’ for Business Owners?
- Tax:
As business owners, we pay lots of tax when we take money out of the company – either through salary, dividends, loans or selling the business. There are strategies and reliefs to reduce your tax bill significantly when you are either extracting profits or selling a business. - You Die:
How would your family benefit from the asset you’ve spend years building up? Would they get a fair price for your shares in the business? Would your partner be in a position to buy them out? And if not, could they even sell the shares at all? And how would they replace your monthly income? - Your Business Partner Dies:
What would happen if your business partner died and your partner’s spouse (or kids) suddenly became your new business partner? Could you work with them? Could you afford to buy them out? Would buying them out put a strain on your finances? Or would they even be willing to sell? How easy would it be to replace what your partner does in the business? - Long Term Sickness:
If you, your partner or an essential worker got sick long term how would it effect the business? Could the business still afford to pay the salary? How would it effect profitability? Would the business itself be at risk? - Failing to Plan The Exit:
Right now, you may have no plans to sell the business. But what happens if you want to retire from the business or sell it some day? Is there an exit plan? If you have a partner will they be willing to sell their share of the business too or would they be able to buy you out if not? Will you miss out on favourable tax reliefs or could the potentially massive tax bill scupper the deal because you didn’t plan ahead? - Divorce:
We’re not marriage counsellors so we’ll leave the advice on having a happy marriage to the experts, but from the point of view of wealth, marriage breakdown can be the biggest killer of all.
Wealth Planning are specialists in financial planning for business owners. We’re here to protect you from potential pitfalls (including some that you may not have even considered) and to help you to profit from wealth building strategies.
It all starts with a 15 minute call with a wealth planner. Book in a call time and let’s see if we are a good match for each other.
Book in a 15 minute Zoom Call or Phone Call: