Broker Check

Small Business Planning



WellAcre Global Wealth Advisors specializes in financial planning for small business owners. Contact our experts today!

Small Business Planning Santa Monica, CA

 We have a lot in common with you. As the owners of a fee-only Registered Investment Advisory company, we are business owners ourselves. We serve several small business owners working in the Entertainment Industry and a wide array of other industries. As a business owner, you face many day-to-day responsibilities and challenges, and you don't always have the time to focus on critical financial strategies and risk solutions. 

But that is where we excel. We offer a comprehensive range of small business planning services, including retirement plans, investment management, executive benefits, tax reduction, business organization, and succession planning. WellAcre Global Wealth Advisors specializes in financial planning for small business owners. Contact our expert Certified Financial Planner™ professionals today!

The Golden Tax Opportunities for Business Owners

Are you highly successful? Are you a highly successful small business owner? If you are, there is good news for you. The American tax system is built to benefit business owners. And as the owner of a small business, the tax system is built to benefit you.

But You Need Expert Advice

Unfortunately, most tax professionals are too busy filing tax returns to think strategically. If you are lucky, your tax professional will help ensure your loan out corporation increases your deductible expenses, but is your tax professional advising you on maximizing your 20% Qualified Business Tax deduction? This strategy is even better when combined with a sophisticated retirement plan such as those below. Such plans also help higher-earning small business owners qualify who might otherwise be excluded. 


Implementing The Golden Retirement Plan

Small businesses are perfect vehicles for implementing highly lucrative retirement plans. Are your tax professionals putting in place retirement plans beyond a SEP or SIMPLE IRA, such as a Solo 401(k), or even better, a Defined Benefit Pension Plan? This particular structure enables you to save pre-tax an amount several times higher than your income – and to qualify for the QBI tax break when otherwise you might be excluded. How is this possible? Talk to us today. These programs require great expertise to implement and navigate successfully. So as with your heart surgeon, you need to be in the care of a highly experienced team. That is us. If this is you, click here and talk to us today at WellAcre Global Wealth Advisors.

Many business owners don't have the time to design, implement, and manage a retirement plan. We work closely with you to determine appropriate retirement plan options that help your business, your employees, and you individually pursue a financially secure retirement. We utilize Defined Benefit, Defined Contribution, Profit Sharing, Pension Plans, and ESOPs, or a combination thereof. We educate your employees on the company plan and options, along with consultation on their planning.

Small Business Advisor

As your small business advisor, we provide goal-oriented, personalized financial advice for small businesses. Your needs are not the same as those of larger corporations. We understand the nuances that come along with owning a small business and how they affect you. No two business financial planning paths are the same because your business is unique to you. Whether you have two employees or two hundred, we are your go-to small business planner in the Santa Monica, CA, area. Give us a call.

The Importance of Working with a Fee-Only Advisor

Receiving financial advice can be treacherous. It is essential to have unconflicted advice. Fee-only advisors do not sell you financial products, annuities, or insurance and do not receive commissions, whereas traditional brokers and fee-based advisors do. (Do not get confused: fee-based advisors may charge an investment or financial planning fee but are also licensed to sell you financial products.) 

Being a fee-only advisor helps ensure that we sit on the same side of the table and offer you unconflicted advice. Rather than selling you products, we focus on financial planning and giving you conflict-free financial and investment advice. Of course, we still need to keep the lights on and put a roof over our employees' heads, so we charge a fee. This is generally charged as a small percentage of your investments that we manage. The more we can grow and protect your hard-earned wealth, the better it is for you and the better it is for us. We offer investment management solutions for business owners to make the most out of their hard-earned wealth.

The Importance of Working with a Certified Financial Planner™, Professional

It's essential to integrate your business planning with your personal financial needs. Beyond assisting you with your business strategies, we help with a wide range of wealth management services, including retirement planning, estate planning, investments, insurance, and estate planning. A CFP® has received a high degree of training in these five most critical areas. CFPs® also have to pass an extremely rigorous exam, so you have the comfort of knowing you are working with a highly trained expert. In addition, the CFP®  board requires its certificants to be fiduciaries. This means they are held to a high ethical standard and required to work in your best interest. Strangely enough, this is not the industry norm, so ensure that you are working with a CFP®. Even better, ensure you are working with a CFP® who is also a fee-only investment advisor.

Executive Benefits

Offering a non-qualified benefit plan can attract and retain key employees. We help you determine and implement appropriate plans such as deferred compensation, long-term incentive plans (LTIP), carve-out, bonus, and supplemental executive retirement plans (SERP). Key person insurance is another way to attract and retain key employees. Key person Insurance is Life or Disability Income Insurance on a key employee or partner, with the business serving as the beneficiary. This can offset risk by reimbursing your business for economic losses that occur or the cost of hiring and training someone new when a key person in your company dies or has health issues that force them to stop working. We work with you to determine your business' key personnel and evaluate affordable solutions for this liability.

Tax Reduction Strategies

We work with small business owners to reduce their tax implications through a variety of tax reduction strategies. From paying down your debt, maximizing retirement savings contributions, being proactive about procurement and depreciation, deferring income, and making the most out of potential home office deductions, we will ensure that your business runs as tax-efficiently as possible.

Business Organization

While there are many ways to organize a business, we offer solutions to ensure that your business structure incorporates tax, asset protection, compensation, and estate planning. Your business structure must encompass all these aspects. Make the most out of business by letting us help you with your business organization.

Succession Planning

There are two types of business succession: Planned and Unplanned.  If you can plan and orchestrate your exit from your business, it's truly the best of all worlds for you, your family, and your employees. Through proper planning and collaboration with the other professional advisors in your life, we'll help you and your business enter desired circumstances after your exit. What will happen in the following days, months, and years if you die or have health issues that remove you from your business? Succession needs can occur before your planned time horizon. We help you define those needs as a business owner or CEO. Your succession plan can help ensure a smooth transition of your business to new leadership, mitigate taxes, prevent a loss of control over the disposition of your company, and avoid a decline in the value of your business in the event of your death or unexpected disability.

Retirement Plans For Business Owners

Putting in a retirement plan is an excellent way for business owners to enhance their wealth and that of their employees. Many kinds of retirement plans and retirement accounts work great for small business owners, including entertainment industry loan-out corporations. Some of our favorites are:

Solo Roth 401(k) – This is a great plan if you employ just yourself and your spouse. It will enable you to fund your retirement at a much higher level than the average person. We particularly like the Roth option, as it gives you a choice of whether to pay tax now or later. The Solo 401(k) can also be designed to allow you to make After-Tax contributions that can then be converted into a Mega Back Door Roth IRA.

Multi-Employee 401(k) – This plan will not enable you to save as much as the Solo 401(k) or other plans as a business owner, but it will keep your employees happy and maintain their loyalty.

Defined Benefit Pension Plan – This plan is ideal for a highly successful business owner who is either the sole employee or has few employees who are younger and lower-paid. With this plan, the business owner can save hundreds of thousands a year tax-deferred.

Simplified Employee Pension – SEPs are well known by accountants and often implemented. A SEP can also work well for an individual business owner and their spouse, although generally, we prefer the Solo 401(k). SEPs tend not to be such a good solution for companies with multiple employees, and there are better solutions for when the owner is the sole employee.

Simple IRA – As it implies, this is the most straightforward retirement plan for employers to put in place and requires the least paperwork and cost. However, it also has lower funding limits and more limitations than some of the other plans.

DISCLAIMER: Some of these are sophisticated strategies that should not be attempted on your own. Please speak to your tax professional or your own financial advisor before acting. Or call us today and let us help you build your future.