Business Tax Saving Strategies
Services to help minimize business taxes and maximize capital growth
Business Tax Saving Strategies Testimonials
The Langan Financial Group will take their time to learn your goals and help you build a plan that suits your needs.
It is not a cookie cutter system that requires you to fit into a limited number of options.
CEO, The Flurie Group
Bob, Alex and their team inspire confidence. Knowledgeable, personable, service oriented, and highly responsive.
My wife and I feel that we are in very good hands!
Owner, Richard Beck LLC
What is a Business Financial Advisor?
Financial advisors provide financial advice or guidance to business owners. By acting in an advisory capacity, financial advisors can utilize a financial perspective to help the company grow.
The tactics used should align both the personal financial goals with the business' to help minimize conflict and leverage potential strategies.
Financial advisors can help align business owners' financial goals with tactics to increase their capital growth while minimizing potential tax liabilities.
In addition to capital growth and tax liabilities, financial advisors can provide additional benefits through group insurance benefits for employees. This can help:
- Minimize turnover
- Recruit key talent
Benefits of a Business Financial Advisor
Financial advisors' biggest benefit for any business owner is saving them time, followed by a close second is money.
Time is the most valuable resource a business owner has and unfortunately, they never have enough.
In addition to time and money, business financial advisors can help:
- Minimize tax burdens
- Save the business money
- Help retain key employees
- Help recruit key employees
- Provide capital growth opportunities
Business owners are constantly facing high tax bills. In addition, most business owners are using their companies to fund their retirement planning.
Financial advisors can help work with business owners to address these issues. They can help owners navigate:
- Minimize tax bills
- Financial markets
- Maximize capital growth
Advisors can set up group benefits and golden handcuffs. Through this, businesses can minimize turnover while increasing recruitment.
By minimizing turnover, businesses will save money by maintaining high production while minimizing the time and cost it will take to:
- Find an adequate candidate
- Interview candidates
- Set up benefits
- Onboarding
- Training
5 Tax Reduction Strategies for Business Owners
- Tax Saving Investments
- Premium Financing
- Captive Insurance
- Tax Loss Harvesting
- Golden Handcuffs (also known as Executive Compensation)
Tax Saving Investments
Tax-saving investments are investments that minimize fees while focused on maximizing tax-free growth. Of course, any investment needs to be aligned with your risk tolerance as well as timeframe.
Not every investment's goal requires a 20-year commitment. Some goals are more short-term. As such, this impacts the tax-efficient techniques available.
In addition, the investment strategy should first review your current tax situation. Depending on your tax needs, some tactics may be more appropriate than others.
Your investment strategy should review your current scenario and align everything to be as effective as possible.
Premium Financing
Premium financing is a technique used for large life insurance policies that use the cash surrender value as collateral for a third-party loan to pay for the policy's premium.
A business can finance to pay the majority of the policy's cost for key individuals within the organization. It allows for a business to receive the life insurance policy without critically hurting the cash flow.
Premium financing can be a great tool if the right conditions are met. In times of high inflation or interest rates, it is best to steer clear of this method. When inflation or interest rates are high, the return on investment may not very enticing.
Captive Insurance
Captive insurance is a self-created insurance policy by the business that allows for:
- Risk mitigation
- Enhanced cash flow
- Wealth accumulation
- Wealth preservation
- Potential mitigation of insurance costs
- Potential favorable tax treatment
Captive insurance's primary purpose is to protect the risk of its owners. It allows business owners to work outside of the commercial insurance market.
By creating their own insurance, owners can put their own capital at risk to achieve their financing objectives.
The cost-benefit analysis truly depends on the risk they are insuring for and how it is set up or designed.
The business owner will pay him or herself the insurance premium each year for the coverage. Doing so can help lower a company's commercial insurance costs while simultaneously providing more specific coverage.
By applying this methodology, it can consequentially create a tax advantage for businesses, however, it is not the primary purpose.
Tax Loss Harvesting
Golden Handcuffs
Golden Handcuffs are designed for your key employees, including the executive team.
These packages are developed to retain or recruit key employees for businesses. In some ways, the design can help reduce your tax burden, while providing additional benefits to your organization.
It all depends on how the executive compensation program is packaged.
Business Financial Advisors Services
Langan Financial Group provides business financial planning services to help reduce their overall tax burden. Our business financial advisors can use these tax-saving techniques to help businesses either:
- Minimize taxes
- Retain key employees
- Increase tax-free growth for investments
Depending on your goals and cash flow, we can customize financial plans that target multiple pain points. In the end, our goal will be to help save you money and time.
Can Your Business Save on Taxes?
Call Langan Financial Group's Business Financial Advisors to set a time to talk about ways to help your business. You can call us at 717-288-1880 or visit our Contact Us page to send an inquiry.
We usually respond to inquiries within 24 hours.
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Disclosure: Check the background of your financial professional on FINRA's BrokerCheck. The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. Please consult legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Cambridge and Langan Financial Group, LLC. are not affiliated. Cambridge Investment Research Advisors, Inc. a Registered Investment Advisor. Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a broker-dealer, member FINRA/SIPC, to residents of: AL, AZ, CO, DE, FL, GA, IA, KY, MD, NJ, NM, NY, NC, OH, PA, TX, VA, WI Cambridge and Langan Financial Group does not offer legal advice. Estate planning services are in regards to your overall financial plan. Always be sure to speak to a legal professional in regards to specific legal matters. Fixed insurance services offered through Langan Financial Group.
Testimonial/Endorsement Disclosure: The testimonials may not be representative of the experience of other customers. The testimonials are no guarantee of future performance or success. All of the testimonials/endorsements are clients with the exception of Steven Martinez of York SPCA. There was no cash nor non-cash compensation for any of the testimonials provided.
© Langan Financial Group
Harrisburg, PA Office
Address: 1863 Center St, Camp Hill, Pa 17011
Phone: 717-288-1880
York, PA Office
Address: 3405 Board Rd, Suite 200, York, Pa 17406
Phone: 717-773-4085
