Business Planning

Buy/Sell

The last thing most business owners spend time worrying about what will happen when you or another owner wants to move on, retires, divorces, or becomes disabled, or dies. It is best to set ground rules ahead of time that owners can look to in a time of strife. A BUY/SELL agreement is a binding contract between you and your co-owners that defines who can buy a departing owner’s share of the business and establishes what price will be paid for that ownership interest. This contractual agreement becomes effective when one of the triggering events takes place.

Once a contract is in place, the next step is to decide how the agreement will be funded to buy-out the departing, deceased, or disabled partner’s share.

At Sterling Financial Group we help our clients structure appropriate BUY/SELL agreements and provide solutions to properly fund these agreements that are coordinated with the overall plan and objectives of the business.

Liability/Entities

It has been our experience that most business owners and professionals are not taking advantage of proper entity structuring. This results in undue liability exposure and ends up costing thousands of unnecessary tax dollars each year. One of the largest ongoing expenses to any business owner or professional is taxes. As part of the comprehensive financial planning process, we offer a full service in regards to how to structure both business entities and personal holdings. Our proactive, team approach with your CPA and attorney, allow us to design a plan structured specifically for your unique situation.

Executive Compensation

We help business owner and executive clients with equalizing their benefits through executive compensation packages. Non-qualified deferred compensation plans are often used for executives to accumulate meaningful retirement benefits due to restrictive limits under traditional tax-qualified profit sharing and pension plans. While the executive compensation options and non-qualified plans resemble qualified retirement plans, such as a 401(k) plan, they are distinctively different in their requirements for participation, funding limits, vesting schedules, and non-discrimination requirements. These types of arrangements are very flexible in design and can be adopted to meet your individual objectives of the owner.

Owner Perks

As a business owner, professional, or self-employed individual, there are many perks available to you. We help our clients to structure a plan that helps them take the fullest advantage of the perks that are available. The strategies we use help our clients in maximizing the benefits available and minimizing the limitations, which could beset them.

Employee Benefits

Whether a company is large or small, start-up or well-established, public or private, high-tech or nuts and bolts, a motivated and productive workforce is essential to its success. Employee benefits plans are and an attractive element in recruiting and maintaining a happy and productive workforce. The employee benefits plans of a particular company should be tailor-made to suit its needs and the needs of its employees.

Sterling Financial Group we have a wealth of experience in designing and implementing all kinds of employee benefits plans for retirement, health, disability, and group life. We help our clients sort through the universe of options and cut through the thicket of complex requirements. The right strategy is determined by the goals and objectives of the company and its ownership.