In concluding our talk about how a business owner handles the disability of any employee, we first introduced the concept that you can pay any employee a salary if out of work and not covered by any government program such...
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Your Documents for a Qualified Sick Pay Plan
Previously we discussed the importance of having a Qualified Sick Pay Plan. It is to protect you from paying taxes with penalties if you wanted to pay you or key employees in your business in the event anyone became disabled. ...
Your Business In the Event of A Disability
One of the easiest ways to derail your Business Continuation Plan is not to prepare for the contingency of a short and/or long-term disability. In fact, I stated in a previous article the likelihood of a disability is far greater...
First Look At Investments
One concept to keep in mind is that ALL investments involve risk. I have a very dear client who told me that she wanted to keep the money in the bank "where it is safe." However, I had to bring...
Essentials of A Business Succession for Disability
Remember when we discussed Business Succession in the event of a premature death? There we said that a continuation agreement could be made either one of two basic ways. The business owners could make a succession plan between themselves. Alternatively the...
The Disability Buy-Out
We have previously discussed how important it is to have a Disability Income Protection Plan for the continuation of your hard-earned business. The reason is obvious. If you could no longer be gainfully employed, how can you sell your interest...
Oops! I Never Thought About That
Let's say you have taken the significant step and protected yourself, your family and your business with some form of a salary continuation plan in the event of a short or long term disability. However, what about the many professional...
Starting A New Business?
Up to this point, you may be feeling that these threads are concerned with only a seasoned, well-established enterprise. Nothing could be further from the truth. If you are just starting a new business, this is the perfect time to...
Staggering Stats
Clients frequently ask why even bother to discuss not being able to work. There are countless other things that affect my Business Succession plan. There are items like finding the right employees, making payroll, minimizing taxes, planning for a retirement...
Lower Your Costs For Income Protection Plans
Group Disability Insurance is far more affordable than individual plans. Many business owners are looking for ways to provide much needed benefits while at the same time keeping costs down. Consequently, Group Disability Plans may be a key answer to...