Areas of Opportunities
Business Succession Planning
What options are available to a business owner that is ready to retire or sell their business? This question is possibly the single most important area of business planning. There are basically two types of future buyers for any business or professional organization: the internal and external buyer. The internal buyer is generally the best and might be a family member. A properly constructed succession plan can mean the difference between success or failure for the organization.
Executive Key Person Pay Plans
Executive retirement plans offer your company or organization a planning opportunity that centers on providing benefits to select key people as you so designate. These plans may be aimed at rewarding key people, providing incentives, or helping your company attract a new key person. Executive pay plans may also offer a valuable and rewarding benefit for the owner. The focus generally is on promoting and rewarding employment stabilization throughout your company.
Retirement planning for financial independence is a great concern to almost everyone. Our firm offers services relating to the development, implementation, communication, and administration of all types of qualified retirement plans, including 401(k) pension, profit sharing, and simple plans. We utilize plan design models to help your company decide upon the type of tax-deductible retirement plan.
Estate and Personal Planning
Federal estate tax and probate costs are unreasonable. The federal estate tax approaches 50% of your assets. Probate costs may vary upwards to 6% of the gross estate. It is imperative that all business owners remain up-to-date with this changing area. Our firm architects your plan in a meaningful manner with the objective to make this complicated area of planning understandable. We concentrate on your current investment assets, life insurance, and the impact each of these has upon you. The end result of this planning very often increases your spendable income now.
Employee Benefit Planning
The cost of medical insurance and all types of employee benefits are constantly rising. In many companies, these areas represent an additional 30% or more to the payroll burden. This cost seems to be rising annually. Our focus is on cost stabilization, which includes fully insured plans, partially self-funded plans, and ASO variations. MHG communicates with all of the major health, life, dental, vision, and disability insurance companies. We offer 125 Cafeteria Plans to pretax your employees' cost. Additionally, our staff understands your concerns and provides hands-on assistance to the person that deals with these issues.