INSURANCE & RETIREMENT

Everyone deserves Great Insurance & Retirement Plans

Better Accounting now offers a variety of long-term planning solutions. Business owner’s often feel they don’t have the time to think about their future because they need to keep their company running in the present. Better Accounting believes that dedication to your company shouldn’t mean postponing your future which is why we now offer retirement solutions, in addition to life and health insurance, to help all of our clients optimize their present for a successful future, at an affordable price.

    Our new services include:

    • Retirement plans and insurance that work with your tax strategy.
    • Free review of your current insurance policy.
    • Free quotes for new insurance.

    Permanent Life Insurance

    Permanent insurance, also called whole life or universal life insurance, is insurance that lasts the duration of the insured’s lifetime, provided the premiums are paid.

    The benefits of permanent insurance include:

    • Death benefit and a savings portion— This means that the insurance builds a cash value over time which can be withdrawn and used towards specific purchases, if needed. The death benefit means that, should the insured die, the beneficiary will get a payout which is not subject to income tax.
    • Tax deferred—Payments made to a permanent insurance plan are tax deferred, meaning taxes are applied when the money is withdrawn, reducing the insured’s income tax in the present.
    • Cash Value—As the insured pays premiums, their policy will gain a cash value which then earns interest that can be withdrawn or borrowed against.
    • Variety of Policies—The wide range of permanent insurance options offers solutions for every situation.

    Term Life Insurance

    Term life insurance often carries lower premiums than permanent insurance, but the insured is only covered for the term of the insurance policy. For example, 10 years is a standard term period. If the insured survives the term period, they must either renew the policy or their premiums will be lost. Additionally, this type of insurance cannot be borrowed against.

    Think of a term policy as renting insurance where a permanent policy is buying insurance. The benefit of term insurance is that the premiums during the covered period are more affordable than permanent insurance. However, should the insured choose to renew their term insurance the premiums will often increase significantly, because the insured is now older and statistically more likely to die.

    Health Insurance

    Health insurance is often seen as unnecessary by the young and relatively healthy. However, a single uninsured trip to the hospital starts at an average of $3,949 and $15,734 if the injured party needs to stay overnight. It’s true that health insurance does not cover 100% of these expenses, but insurance does limit the amount an individual can pay out of pocket and will reduce the cost from thousands down to hundreds.

    Small business owners who lack access to corporate insurance accounts may feel that there is no affordable way for them to access health insurance. Insurance options in the U.S. are often extremely complicated and Marketplace insurance, or Obama Care, is commonly unaffordable for those with an average middle-class or higher income. There are other options available which are significantly more affordable than Obama Care and can cover your entire family.

    Retirement

    Saving for retirement is like flossing. Everyone knows they should do it, but few people do. To make matters worse, small business owners lack the luxury of a large corporate 401k account. Retirement plans can be expensive and require significant manpower to support, but that doesn’t mean that business owners should have to sacrifice their retirement. There are many great plans designed specifically for small business owners and some retirement plans can save you money on your taxes. Let us take a look at your situation and discuss a solution custom fit for you.

    Learn More About What We Can Do for You

    Small Business Accountants

    For everything from financial statements to equity accounts, we’ll take care of it.

    Financial Analysis

    Let our accounting professionals help you not just meet your business goals but exceed them.

    Business Consulting

    Our experts will help you run your new business from cradle to success story.

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    Take Control of Your Company’s Finances

    At Better Accounting, we know you can’t plan where your business is going unless you know where it’s been. Our consultants will take care of every aspect of your finances, past, present and future. With our financial expertise and your business smarts, we will achieve financial visibility in no time.