Financial Guidance for Small Business Owners

 

Running a business takes a lot of time, energy, and decision-making. Many business owners are focused on taking care of customers, employees, and day-to-day operations, but may not always have time to step back and look at their full financial picture.

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At Shrom Associates, we help small business owners think through how their business, personal finances, retirement goals, and family plans work together.

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Helping You Look at the Bigger Picture

 

For many business owners, the business is one of their largest assets. That makes it important to think about how the business fits into your retirement planning, investment strategy, family goals, and long-term plans.

We can help you review questions such as:

• Am I saving enough outside of the business?

• Do I have old retirement accounts that should be reviewed?

• Does my current retirement plan still fit my goals?

• Should I consider a retirement plan for myself or my employees?

• How does my business fit into my future retirement income?

• What happens to the business if I retire, sell, or pass it on?

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Retirement Planning for Business Owners

 

Business owners often have different planning needs than employees. Your income may change from year to year, your retirement savings may depend on business cash flow, and your long-term plan may involve selling or passing on the business.

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We help business owners review retirement account options, investment accounts, income needs, and other planning considerations so they can make thoughtful decisions for the future.

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Employee Retirement Plan Support

 

If your business has employees, a retirement plan can be an important benefit. We can help business owners review retirement plan options, understand how plans work, and coordinate with plan providers, payroll companies, and third-party administrators when needed.

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This may include SIMPLE IRAs, 401(k) plans, or other retirement plan options depending on the business.

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Planning for the Next Chapter

 

Whether you plan to work for many more years, slow down, bring family into the business, sell the business, or transition ownership over time, it is helpful to start planning early.

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Our goal is to help you organize your options, understand the financial pieces, and think through what may make sense for you, your family, your employees, and your future.

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Let’s Talk Through Your Business and Personal Financial Picture

 

Every business is different. We would be happy to sit down with you, learn more about your situation, and help you review how your business and personal financial goals fit together.