Veteran Business Owner Success Story

Whether you're just starting a business on active duty or a fully established veteran business owner we're here to help. Below is a hypothetical situation that shows a time when it made sense to work with a financial planner and how they benefitted from doing so.

Veteran Business Owner

Full Personal and Business Planning for Veteran Businsess Onwers

Optimize Income and Tax Benefits

As a business owner, there is a lot to consider when looking at your compensation and tax situation as it integrates into your personal finances.

Preparing to Grow and Potentially Exit

Whether or not you plan to sell next year or never, there is so much to consider when growing your business.

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Chris and Sammantha

Veteran Business Owner with one spouse having a W-2 job as well

The Situation

Chris graduated from the Academy in 2014 and met Samantha at his first assignment. They got married a few years ago, then Chris got out and started his own restaurant, and they had 2 kids and were looking at the costs of the next stage(s) of life and knew they needed some guidance.

They have never really tracked their spending or made intentional decisions around cash flow or their salary from the business.

They want to position themselves to be making proper decisions from a tax and retirement perspective today, while focusing on growing the business and expanding to more restaurants to sell someday.

The Results

As part of the financial planning process, we helped them set up a system to manage both their personal and business cash flows, while optimizing contributions to retirement plans to lower their lifetime tax bill.

  • Optimized their wages from their S-Corp to minimize taxes in conjunction with retirement savings and the Qualified Business Income (QBI) Deduction
  • Reviewed current insurance policies & their suitability
  • Created an automated savings system to help reach their goals
  • Showed them how much money they needed to have saved at certain ages to be financially free with or without a business sale
  • Got education savings started
  • Got estate plan in place for the personal and business assets
  • Started a business retirement plan 
  • Put a collaborative team together of their CPA, estate attorney, insurance agent, and bookkeeper
Start planning for financial freedom today.

Hop on a 30 minute call to talk about your situation, and we will help you make an educated decision about your next steps, regardless of it is moving forward with our firm or not.

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