Financial Planning for Business Owners
Successful business owners are builders. They’re passionate about their work, find ways to fill marketplace needs in unique ways, and create businesses that grow and evolve. They always look for new opportunities to innovate and generate income.
Veracity Capital understands those imperatives because we’re builders too. Our financial planning services are geared toward entrepreneurs and business owners with growth mindsets. Veracity Capital’s business team can help them manage risk, structure financing, limit tax liability, and plan for building success. These services include:
Budgeting and Cash Flow Analysis
Liquidity is crucial to business owners. Bottlenecks in budgets restrict their capabilities and are often hard to predict. Veracity Capital’s team locates those pain points and develops strategies that free up cash and strengthen investments. We’ve also built an extensive network of professionals to help our clients with lending solutions.
Veracity Capital helps business owners find strategies for mitigating their tax liability. Our qualified financial professionals find opportunities for tax credits and incentives, stay updated on tax legislation, identify deductible expenses, and implement strategies for investments and debt management that improve our clients’ tax standing.
Constant evaluation with proven tools and resources are a huge help for business owners in preserving their assets. Veracity Capital does this by identifying insurance strategies, encouraging proper asset titling, finding business structures most conducive to asset protection, and pursuing portfolio diversification to mitigate risk.
Succession and Exit Planning
When a business owner decides it’s time to start thinking about moving on, Veracity Capital helps them set plans in motion for succession or business exit. Attempting to sell a business without professional help can significantly impact the success of the sale and result in undue stress. With that in mind, we work with you to obtain a proper valuation of your business, help ensure the sale provides you with a steady stream of income, and inform and prepare you for the tax implications of selling your business. If you’re wondering whether you’re ready to start making the transition and pass your legacy on to a successor, you can take our free Exit Readiness Assessment.
When we ask our clients what they want to do with their free time in retirement, very few make any mention of running a business. The truth is that most business owners dream of a retirement that can be enjoyed and maintained without needing to work—which is much easier to attain when retirement has been carefully planned.
To that end, Veracity Capital first defines your goals and desired lifestyle. We then evaluate your assets and organize a realistic strategy for reducing your tax liability, keeping your portfolio in line with your risk tolerance, maximizing the potential of your 401(k) and/or SEP-IRA, and diversifying your wealth outside of your business.
Estate & Legacy Planning
When it comes to leaving an impactful legacy, we walk you through your various options. We show you projections of potential asset and estate growth—something a lawyer can’t help with. Veracity Capital also assists with strategies for passing on large and complex assets to various beneficiaries and trusts, working with your estate planning attorney to help you make a smooth transition.
Let’s take this journey together.
We’re here to help guide you in your financial journey to success and a more secure, confident future.