Business planning and strategizing set you on the right growth path. This includes sound financial strategy, as a business without correct numbers and projections is set to go down the hill. Kate Seastone joins Matt DiFrancesco to discuss the importance of advanced business planning.
You can schedule a free 20-minute conversation with Matt DiFrancesco from HighLift Financial to discuss your business situation. Matt has a virtual family office and has helped countless businesses with their vision and goals. It is always beneficial to take the advice of experts, especially if you are looking to pass down the business.
About Kate Seastone
Kate is one of the partners at HighLift Financial. She specializes in advanced planning for business owners and key employees using non-qualified solutions to supplement and augment their business and lifestyle plans. In addition, she’s a certified “Financial Planner,” has an MBA, and owns a firm called “Simplicit Financial” in Phoenix, Arizona.
Advanced Planning Strategies
Kate uses advanced planning strategies when dealing with small to midsize family businesses, especially in the automotive industry. These businesses have excellent cash flow. At HighLift Financial, my role is to help them create a plan to accomplish their visions by offering traditional solutions.
However, sometimes these businesses need other opportunities as they are cash flow positive and have substantial tax liabilities. That’s where Kate comes in. She has a lot of different ways to combat tax liabilities and provide alternative cash flow streams in retirement for clients.
Creating A Multi-Generational Legacy
Kate always looks for solutions that create value for clients. She started learning advanced planning techniques by searching for specialists in various areas. The aim was to understand the strategies they were using during unique circumstances. In addition, she looked at the tax implications in each of these cases.
These services and ideas by Kate complement the strategies that I am devising for my clients. The goal is to create a multi-generational legacy. The plan of action that I used is the “self-buyout” program. So, suppose a business owner has accumulated a couple of million dollars. In that case, they will not be at the mercy of having either the kids run the business into the ground or to have to sell the business at a valuation that they don’t think is fair. They’ve got some leverage.
ERISA Plans
At HighLift Financial, we have built customized ERISA (Employee Retirement Income Security Act) plans for business owners. We have focused on how it can help them from a tax standpoint. With Kate on the team, we can create additional strategies that complement the client’s “Traditional Plan.” Our focus is on creating an incredible amount of “after tax-free dollars” accessible in the long run.
Why Is It Important To Work With An Advisor?
By having an experienced professional by your side, you’re able to integrate and coordinate your goals and vision. Once the advisor understands the cash flow, what’s happened in the past, and what it’s looking like going forward, that’s where they will be able to create value. The strategies are created to benefit the business owner, the key employees, and families in the future.
In addition to having an advisor who can set a course for you, as business owners, we need to have some renewal and strategic time. This is because the daily operations and continual drive to move forward can spill over. So, taking a little time to work on the mindset can result positively.
How to get in contact with Kate?
If you require advance level planning, then you can contact Kate. Give her a call at the office at 602-717-2011. You can also schedule a meeting with her on the website. Kate and her team at “Simplicit Financial” will ensure that you take advantage of every tax break you deserve.
Schedule A Free Consultation Session With Matt?
Whether you need to have a clearer vision of your business and life or are having difficulty adjusting after Covid, you can schedule a private consultation strategy session with me. We have assisted countless clients with their financial planning.
In addition, many business owners are so busy juggling different roles that they need to know future options. At HighLift Financial, we provide a range of services that include succession and retirement planning that can lift some weight off the business owners.
Disclaimer
The information compiled and posted here solely represents the opinions and views of the guest. It might not necessarily be similar to the opinions and views of High Lift Financial. The availability of this content only serves educational and informational purposes. It is not a substitute for tax or legal advice or professional investment.
Always make sure to consult your financial advisor with any queries related to personal or business planning. DiFrancesco Financial Concierge, LLC. d/b/a HighLift Financial is a Registered Investment Advisor registered with the State of Pennsylvania and subject to the State of Pennsylvania’s regulatory oversight.