FINRA’s BrokerCheck Obtain more information about our firm and its financial professionals

Tax and Accounting

by | Jul 10, 2019

Advanced Tax Strategies for Business Owners and Executives

All business owners and executives have one thing in common; they all pay large tax bills.  This presentation is meant to highlight the tax strategies that we use to lower the tax liability for business owners and executives.  We will cover:

  • New tax strategies that have emerged from tax reform
  • Advanced plan designs for company retirement plans allowing larger pretax contributions
  • Windows of opportunity for Roth conversions
  • Leveraging your spouses access to various retirement accounts
  • Nontraditional use of HRA and HSA
  • Little known text secrets about 529 plans
  • Putting children on the payroll
  • Advanced strategy for charitable giving
  • Maximizing the new 199A Deduction
  • Pros and cons of changing to a different corporate entity structure

Advanced Tax Planning Using Employer Sponsored Retirement Plans

Employer sponsored retirement plans can often times be the most useful tool in reducing a clients tax liability. However, it is important to note that each plan works differently and has different eligibility requirements, contribution limits, and compliance requirements. This presentation is designed to help tax professionals understand the difference between these type of plans at a high-level. In order to do this, we will use case studies to show advanced tax strategies that we use when implementing retirement plans for clients.

  • Brief overview of the different types of plans
  • SEP vs Simple Ira vs solo 401(k)
  • Contributing $300,000 pretax and a single tax year
  • Advanced plan design options
  • Top compliance mistakes
  • Understanding discrimination testing
  • Text trigger events: loan defaults, excess deferrals, in Plan Roth conversions.
  • Mergers and acquisition‘s
  • Clients with more than one employer
  • Plan establishment deadlines
  • Case studies: The most common mistakes we see companies make with employer sponsored retirement plans

Mergers and Acquisitions: Understanding the Impact on the Company’s Employer Sponsored Retirement Plan

When a business owner is looking to buy another company or sell their own company, very little attention is typically given to the employer sponsored retirement plan until the last minute, only to find out in the ninth inning of the deal that there is a minefield of problems that can cause buyers and sellers to walk away from the deal.  These problems range from compliance problems, to difficulties merging plans after the deal is complete, to unforeseen tax events for your employees. This presentation will cover the following:

  • Stock sale: Impact on the import sponsor plan
  • Asset sale: Impact on the plan
  • The buyers viewpoint: What to watch out for
  • The sellers viewpoint. What to watch out for
  • The special grace period for combining the plans
  • Compliance issues to watch out for
  • Asking the seller to terminate their plan
  • Unforeseen consequences for the employees
  • The most common problems after the acquisition is complete
  • Special rules that apply when companies have two different types of retirement plans
  • Case studies: absolute disasters

Wills, Trusts, and Estate Planning

Most people realize that they should have a will, health proxy, power of attorney, and in some cases, a trust. Unfortunately, most people don’t get around to creating those documents when a tragedy occurs, causing them to realize that it is too late. If you have parents or grandparents over the age of 70 and think you may be serving as executor or trustee to their estate plan, it’s vital to know how these documents work and what your responsibilities entail. In this presentation we will review:

  • How to establish a will
  • Items that should be included in your will
  • What a health proxy does
  • Power of attorney documents
  • What is a trust and how do they work
  • Estate planning when you have minor children
  • Using trust to protect assets from a long-term event
  • Beneficiary designations on retirement accounts and life insurance.
  • Most common mistakes we see people make with the estate planning

Help Your Clients Avoid These Seven Financial Mistakes When Getting Divorced

As a financial planning firm, we often see clients after their divorce is finalized and decisions have been made, only for them to find out that there may have been a better way to split assets, avoid a tax hit, or realize that important language is missing from a QDRO document.  This presentation is designed to help divorce attorneys create better financial solutions for their clients when negotiating the terms of the divorce agreement. Michael is a certified divorce financial analyst and he will be covering the following topics:

  • Tax and financial considerations when splitting the house
  • The most common mistakes with and QDRO documents
  • Tax pitfalls when splitting retirement accounts
  • The impact of divorce on college financial aid
  • Strategies to help reduce the tax impact of the change of tax treatment of alimony
  • Valuing stock options and restricted stock
  • Strategies for addressing financial needs versus financial want
  • Structuring insurance policies to protect support payments
  • 529 plan pitfalls in divorce
  • Financial illustrations that help the collaborative and litigation process

Employee Stock Options, Restricted Stock, Employee Stock Purchase Program, Taxes, and Exercise Strategies

Employee stock options and restricted stock is a great benefit for employees, however, employees often have difficulty understanding how these benefits work, how the benefits will be taxed, and advanced strategies that financial planners and accountants use to reduce the tax liability when it comes time to invest or exercise options.  This presentation will cover the following:

  • Understanding restricted stock
  • Incentive stock options
  • Non-qualified stock options
  • Tax impact of options and restricted stock
  • Strategies for reducing the tax liability
  • The impact on college financial aid
  • Knowing when it’s time to sell
  • Managing a concentrated holding
  • Employee stock purchase programs
  • The most common mistakes employees make when exercising options and restricted stock.

Different Ways to Structure Ownership for Key Employees and New Equity Partners

Whether you are bringing in new partners or looking for ways to tie key employees to the business, there are multiple ways that you can structure ownership in the company.  It is so important to get this decision right because the wrong decision can lead to disputes and litigation between you and your new partners. Unfortunately, this happens more frequently than you would think and we have had a front row seat to many of those disputes. This presentation will cover:

  • Giving ownership without giving equity
  • Structuring the buying for younger owners
  • Key provisions that you should have in your operating agreement
  • Phantom stock plans
  • Option plans
  • Executive deferred comp plans
  • Valuing the business
  • Tax implications of different buy in structures
  • Planning for a break up
  • The most common mistakes business owners make when bringing on new partners

Google, SEO, and Creating a Blog that Results in More Clients

This might seem like an odd topic for financial planner to be presenting on, but I have been on the same journey that many business owners have been on; trying to attract more prospects to their company via Google search, blogging, and social media efforts. In September 2017, we only had 100 new visitors a month coming to our website, so we sought out the top specialist on Google search and had them personally train us in each discipline. By February 2018, we had over 40,000 new visitors coming to our website a month.  In years past we had only grown from traditional marketing, referrals, and word-of-mouth, and this new source of prospects is now growing exponentially and producing results beyond just attracting new clients. In this presentation I will cover.

  • Why traditional marketing is dying
  • Understanding google search
  • New trends in how people are searching for information
  • New SEO tactics that work
  • Elements that you need to build your digital voice
  • What we learned on our journey to 40,000
  • Software and resources
  • Maximizing your time
  • The winning structure for blog articles 
  • Measuring results
  • Going it your self or hiring professionals
  • The long tail strategy
  • Creating a niche: Perception is reality
  • Don’t assume you know how people are searching for you

Other Speaking Engagement Categories 

As Published In

(Visited 41 times, 1 visits today)

Investment advisory services offered through Greenbush Financial Group, LLC. Greenbush Financial Group, LLC is a Registered Investment Advisor. Securities offered through American Portfolio Financial Services, Inc (APFS). Member FINRA/SIPC. Greenbush Financial Group, LLC is not affiliated with APFS. APFS is not affiliated with any other named business entity. There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not ensure against market risk. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investments may be appropriate for you, consult your financial advisor prior to investing. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and cannot be invested into directly.