Financial Planning for Entrepreneurs

Entrepreneurs go into business to make a difference, realize a dream, grow something of value and do it on their own terms. Entrepreneurs are often creative people who are driven to succeed. At PDS Planning, we’ve helped all kinds of entrepreneurs with all kinds of businesses. We specialize in financial planning for entrepreneurs of all levels and economic backgrounds. The following are some questions that we’re commonly asked.

What Kind of Business Entity Will Provide Me With the Best Advantages?

It depends what you mean by “advantages.” If you’re just starting out, we can discuss the pros and cons of different entities and compare the various tax advantages, amounts of paperwork, legal costs, etc. If your business is established, we can evaluate your current structure and help you determine if it’s the most beneficial one for you.

What Documents Should I Have in Place As I Work for Myself?

You’ll need State and Federal registration and an Operating Agreement. We can help provide insight to the reasons for having an operating agreement and the different options depending on your corporate structure. We can also recommend an attorney who can draft an agreement for your situation.

How Do I Establish Financial Security for My Partners & I?

Once a partnership agreement has been established, there are additional planning steps to secure your agreement with the other partners. We can help to evaluate whether there should be a buy/sell agreement in place and what is used to secure that agreement.

Can My Company Help Maximize My Pre-Tax Savings?

We can evaluate and recommend the best company retirement plan to help you maximize any pre-tax savings.

How Do I Transfer My Business to the Next Generation?

At PDS Planning, we are very familiar with both the emotional and the financial issues surrounding the transfer of a business. We will discuss your options and help you transfer your business according to your own individual needs and wishes.

For more information regarding our entrepreneur finance services and consulting, contact PDS Planning today.