Save Taxes
Whatever stage of life you’re in — accumulating wealth, transitioning out of your business or mid-retirement — tax planning and optimization are crucial to a healthy financial portfolio. Feeling well-prepared for what’s around the corner instead of having to react to a hefty tax bill takes time, diligence and knowledge of annually changing tax laws.
Executives have enough on their plate, so working with a tax-focused pension administrator like Omnia Executive is a wise investment in your company’s well-being. Our advanced team of niche professionals take on the tedious work to find you tax savings, so more money flows into your business and away from the IRS.
Minimize Taxation Today
Year over year business owners fork over high percentages of revenue to the government, often in the 40 percent range. It’s important in the accumulation phase of your life to understand your tax-saving options so you can make better-informed decisions now and for your future.
We’ll walk you through how to considerably lower your tax bill by sheltering funds in an appropriate retirement plan. Tax-deferred is better than taxable, and tax-free bests both options. The only way to funnel your money into the preferred tax-free account is to first place it in a tax-deferred account. Shelter your money now to increase your nest egg later. Read more about investing here.
Minimize Taxation at Retirement
Maybe you’re well past the accumulation phase and are beginning to eye retirement or how to exit your business in a savvy financial manner. This transition phase is critical, as potentially millions of dollars could be riding on how you go about this decision. With so much at stake, we can empower you to make an educated decision for the betterment of your business and yourself.
For example, let’s say your business is valued at a couple million dollars when you retire or exit. If someone penned a check for that amount, the business will likely be on the hook for significant hits in the form of capital gains taxes.
Instead of lining the IRS’s pocketbook, we’ll help you carve out equity from your business and tuck it into a tax-sheltered savings vehicle. With this method, you’ll receive tax-efficient investment growth while capital gains taxes are avoided or reduced, too. Talk about a win-win. Learn more about succession planning here.
Minimize Taxes During Retirement
You’ve built a sustained business, retired or exited and are now ready to hit the beach to enjoy your well-earned freedom. The problem is, with money stacked up in your tax-deferred retirement vehicle, you’re facing a substantial income tax on qualified withdrawals. You want to move those funds from a tax-deferred account to a tax-free investment account. But how? And when?
Omnia’s team will show you how to reduce taxation throughout your life expectancy, in your estate and at death. We’ll systematically help you move money into a tax-free account, so your ticking tax bomb doesn’t implode. As a result, you’ll hold onto your wealth and leave a legacy for the generations behind you.
