Small Businesses

By leveraging the CPAs’ knowledge at Bay Business Group, BBG Financial Planning will help ensure your business is operating in a tax-optimized manner. This includes making sure that you don’t pay more in taxes than legally required and looking for ways to reduce current and future tax burdens.  Are you accurately including all the expenses associated with your business?  Are there ways to further reduce taxes through benefit packages or accounting methodologies? Are you structured appropriately as a limited liability company, corporation or sole proprietorship? 

You want to choose the right retirement option for the goals you have for you and your organization, because the details matter when it comes to organizational retirement plans.  As a closely-held business, you may be able to design a plan that allows you to save a significant amount towards your retirement and deduct that as a business expense.  If you are an employer with a Simple IRA, SEP IRA, 401(k), or other type of retirement plan, or if you are thinking of offering your employees a way to defer taxes and save for retirement, we have the specialized expertise to design a plan that does what you want it to do and help with the ongoing compliance.

Investments are not just applicable in your personal life.  They also extend into your business activities.  We work with our business clients to determine whether their short-term and long-term operating balances are managed appropriately.   We ask probing questions to help you understand what it is you want to accomplish now and in the future.  We translate that into financial goals and behaviors that we use to determine how much risk you are comfortable taking, what that means for possible growth over time, and the actions needed to get you there.

Finally, we are not limited to any proprietary investments – our independence allows us to put you first at every step in the process.  It’s a marathon, not a race.  We look to build long-term relationships.

More so than larger companies, closely held business are often dependent on just a few people with the unique skills needed to drive the business. As a business owner, you need to think about what would happen to the business if something happened to you, a co-owner or key employee.  Business income insurance, buy-sell agreements, and key-person insurance are ways that you can help mitigate the fall-out. These plans can be very involved and require expertise.  This includes expertise that we have built in our firm, just as you have built expertise in yours.

A competitive benefits package is critical in attracting and retaining employees.  In addition to retirement plans, we work with our business clients to offer group life and disability benefits to employees.  As an employer, employee benefits is a key budget item, and we take a holistic view in helping you allocate those dollars in the most effective way.