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.
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:
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 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.
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.
For everything from financial statements to equity accounts, we’ll take care of it.
Let our accounting professionals help you not just meet your business goals but exceed them.
Our experts will help you run your new business from cradle to success story.
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.
Dedicated to keeping your business’ finances operating smoothly so you can focus on your business. It’s accounting, done better.
