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Business Owner Succession Strategy

If you are a business owner looking for ways to reward yourself or key employees with a tax-advantaged retirement program, B.O.S.S. is a program worth considering. It is a non-qualified benefit plan for business owners and key employees

Designed To:

Attract, Reward and Retain key employees

Income tax-free retirement income

Provide tax-deferred
growth

Income tax-free death benefits to heirs

How It Works

  • A partnership is formed between your C-Corporation and one or more of its owners.
  • The company and owners make capital contributions to the partnership.
  • The partnership purchases life insurance on the owners.
  • Death Benefits can be used for buy/sell or personal insurance needs.
  • Cash Values can be used for future retirement needs.

Results

  • Policy premiums paid by the company, although not tax-deductible by the company, are income tax to the insured-owner and partnership.
  • The company will be reimbursed for premiums paid income tax-free.
  • Policy death proceeds will be received income tax-free.
  • Policy cash values will grow income tax-deferred.
  • Policy cash values can be accessed by the partnership income tax-free through policy withdrawals or loans.

Demographics: Business Owners making $250k+; Business owners who want to save on taxes.

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