Business Owners

We have a unique perspective on what issues business owners have to deal with as we are and have gone through many of the same experiences. We can help on the tax planning side whether it be using specific investments or finding the right retirement plan suited specifically for your size business. We can provide Group Health Insurance or Insurance such as Key Person Life Insurance to protect the business against a sudden loss. Also, we work very closely with other companies specializing in supporting the business owner’s needs so when we can’t provide a service, we usually can refer you to someone that can.

Business Products and Services

Click on the terms to see a definition

  • 401(k) Plans

    A defined contribution plan offered by a corporation to its employees, which allows employees to set aside tax-deferred income for retirement purposes, and in some cases employers will match their contribution dollar-for-dollar. Taking a distribution of the funds before a certain specified age will trigger a penalty tax. The name 401(k) comes from the IRS section describing the program.

  • Defined Benefit Plans

    A company retirement plan, such as a pension plan, in which a retired employee receives a specific amount based on salary history and years of service, and in which the employer bears the investment risk. Contributions may be made by the employee, the employer, or both.

  • Group Health Insurance

    Insurance which is issued to a group, such as an employer, credit union, or trade association, and which provides coverage for individuals and sometimes their dependents.

  • Investment Advice

  • Key Person Life Insurance

    Life insurance purchased by a company or investor on the life of a key executive. Usually the company is the policy's beneficiary. Also called business life insurance.

  • Life Insurance

    Insurance to be paid to a beneficiary when the insured dies.

  • Long-Term Care Insurance

    Coverage that provides nursing-home care, home-health care, personal or adult day care for individuals above the age of 65 or with a chronic or disabling condition that needs constant supervision.

  • Profit Sharing Plans

    Employee motivation plan (established and maintained by an employer) under which employees receive a share of the firm's profits determined by an agreed upon formula.

  • Retirement Planning

    The process of planning for retirement, specifically in terms of making financial plans. Most often, retirement planning involves depositing money into a retirement account, and purposefully saving money for the future. There are many different types of retirement plans available, including an Individual Retirement Account (IRA) and a 401(k) plan. In most cases, employees are provided with a retirement plan by their employer, and contributions to the plan are deducted from the employee's paycheck. Some employers will match a certain percentage of an employee's contributions, adding more money to their account. Most plans have different rules and guidelines, including details such as when the money can be withdrawn.

  • SEP Plans

    A retirement program for self-employed people or owners of companies with less than 25 employees, allowing them to defer taxes on investments intended for retirement. This plan allows employers to contribute on behalf of eligible employees, and all contributions are tax-deductible as a business expense and can be integrated with Social Security contributions. In addition, there is no minimum contribution requirement.

  • Simple IRA Plans

    A retirement plan sponsored by companies with fewer than 100 employees which is attractive for employers because it avoids some of the administrative fees and paperwork of plans such as a 401(k) plan. A SIMPLE plan may be structured as a 401(k).

The financial consultants of Sterling Financial Strategies are registered representatives with and securities and advisory services offered through LPL Financial, a Registered Investment Advisor, Member FINRA/SIPC. Sterling Financial Strategies and LPL Financial are separate entities.

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