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Anthony J. Bardi
Registered Representative
Enrolled Agent, LTC# 454
Tax and Financial Solutions, Inc.
151 SE 223rd Avenue
Gresham, OR 97030
Phone: 503-666-7909
July/August 2019
Plan for Change
When you prepare for industry, regulatory and other changes that could affect your business, you increase the likelihood that your business will prosper over the long term. Similarly, you’ll want to pay attention to changes in your business that could affect your personal financial or estate strategies. Here are some events that should trigger a review.
Changes in Personnel
The loss of a key person, especially a co-owner, could have a dramatic impact on the viability of your business and is a possibility you need to address in advance. If you haven’t already, consider the potential need for a buy-sell agreement and look into securing life insurance on your business’s key people.Changes in Financial Status
Has your business grown to the point where you can consider establishing a retirement plan? A retirement plan can be an attractive employee benefit and could also benefit you personally. Moreover, employer contributions to a qualified retirement plan are tax deductible (within limits).Changes in Business Structure
When you change how your business is structured — for example, electing or terminating its S-corporation status or forming a limited liability company — you should also review your estate strategy. You want to be certain that changes in your business’s structure do not negate parts of your strategy.CONTACT US
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Tax and Financial Solutions, Inc. and LTM Client Marketing are unrelated companies. This newsletter was created by LTM Client Marketing and was not written or created by the named financial professional and does not necessarily represent the views and opinions of Avantax Wealth Management® or its subsidiaries.
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