Business Employees in a MeetingAs a small business owner, you know your product or service inside and out. Your expertise is in giving your ideal customer or client the best possible experience with your business. But being a successful business owner is about more than just successfully selling a product or service. It's also about managing your finances and taking care of your employees so that your business not only survives but thrives. While you might know everything there is to know about your trade, you might know much less about taxes, investments, employee retirement plans, and other key aspects of financial planning for a business.

Allow Leonard Financial Solutions to evaluate your business's finances and develop a plan that maximizes your profits, protects your personal assets, and allows you to take care of your employees. As financial planning professionals for small businesses and individuals, we have the solutions you didn't know you needed.

What Financial Solutions Does Your Business Need?

With the help of a financial planner who works with business owners, you could assess and optimize the financial health of your company, offer sound retirement plans for your employees, create a plan for your own retirement, and find ways to invest and grow your profits.

Leonard Financial Solutions for small business include the following services.

Financial Analysis and Planning

  • Cash flow management. We help small business owners manage and forecast their cash flow by analyzing income and expenses, identifying areas of improvement, and suggesting strategies to optimize cash flow.
  • Budgeting. We can assist in creating a comprehensive budget that aligns with your goals and objectives for the business, including revenue projections, expense allocation, and contingency planning.
  • Financial projections. We can work with you to develop financial projections based on historical data, industry trends, and growth strategies to help you make informed decisions regarding future operations, investments, and financing options.

Tax Planning and Compliance

  • Tax optimization. Our professionals can help you identify potential tax deductions, credits, and incentives specific to your industry and structure. We can also provide guidance on structuring transactions and expenses to minimize tax liability while complying with relevant tax laws and regulations.
  • Tax compliance. We can assist you in meeting tax obligations by preparing and filing tax returns accurately and on time and ensuring that you stay updated on changing tax laws so that your business remains compliant.

Retirement Planning

  • Individual Retirement Accounts (IRAs). We will help you establish and manage IRAs, including Traditional IRAs, Roth IRAs, or SEP IRAs, based on your eligibility and preferences, providing advice on contribution limits, investment options, and tax implications.
  • Simplified Employee Pension (SEP) plans. We can recommend and set up SEP plans for you and your employees, providing tax advantages and retirement savings opportunities for both you and your employees.
  • 401(k) plans. Together, we can explore the feasibility of establishing 401(k) plans, including options such as traditional 401(k)s, Safe Harbor 401(k)s, or Solo 401(k)s, depending on the size of your business and the desired benefits.

Risk Management and Insurance

  • Insurance needs assessment. As part of our services, we will evaluate your insurance needs, including general liability insurance, property insurance, professional liability insurance, and workers' compensation insurance, and help you identify suitable policies and coverage limits to protect your assets and mitigate potential risks.
  • Business continuity planning. Putting a plan in place to address potential risks and disruptions to the business—such as natural disasters, cyberattacks, or unexpected events—is vital to protecting your business. We will recommend appropriate strategies, such as business interruption insurance or contingency plans, to ensure continuity in adverse situations.

Business Succession Planning

  • Exit strategy development. We collaborate with small business owners to develop a clear and effective exit strategy, whether through sale, merger, or succession planning. We will help you consider various options, such as selling to a family member or key employee or arranging for a gradual transition.

Investment Advisory Services

  • Investment portfolio management. We can provide guidance on creating and managing investment portfolios tailored to your risk tolerance, investment goals, and time horizon. We offer expertise on various investment options, such as stocks, bonds, mutual funds, or exchange-traded funds (ETFs).
  • Risk assessment. We can conduct a risk assessment of existing investments and recommend appropriate diversification strategies to align with your financial goals and risk tolerance.

Call Us Today With Your Questions

At Leonard Financial Solutions, we don't charge a consulting fee to answer your questions, so you have nothing to lose by calling us to find out what we could do to help you reach your goals for your small business. Whether you are just launching a new business or are looking to retire from running one, we want to help you make smart decisions about your money. Contact us to get started today.