Younify Consulting Financial Strategies for Small Businesses, Law, Accounting-financial-homebuilder-colorado-springs

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Homebuilder

Client:

Homebuilder in Colorado with a large group plan with 148 employees participating. The monthly group insurance cost was $88,497 to the company.

Action:

Implemented the Design Health solution, which reduced monthly cost to $49,777 for the company.

Result:

44% annual savings ($464370 annually) to the company.

Younify Consulting Financial Strategies for Small Businesses, Law, Accounting

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Auto Collision Shop

Client:

Auto Collision shop in Colorado that had a small group plan with 13 employees participating. The monthly group insurance was $5,782 to owner.

Action:

Implemented the Design Health solution, which reduced monthly cost to $3,600 for the owner.

Result:

38% annual savings ($26,184 annually) to owner.

Younify Consulting Financial Strategies for Small Businesses, Law, Accounting-financial-vet-colorado-springs

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Veterinarian Practice

Client

A Veterinarian Practice, a two-practitioner office (one owner) with 11 full time employees, doctor – age 40. He has gross receipts of $1.8mm and a Simple IRA. Provider wants to retire at age 65 and sell his half of the practice to the younger provider. Also wanting to ensure that future needs were identified and planned for, including updating equipment as needed, as he expanded his practice. Taxes paid in 2009 – $80,000; in 2010 – $110,000 (prior to implementing business efficiency structure).

Business Challenge

High employee turnover was constantly slowing down productivity and office morale. The current employee benefit program was confusing and ineffective. The practice was accumulating debt as it started expanding into a second location.

Goals

The goal of this Vet practice was to create an employee benefit program that was enticing to new recruits and compelling for current employees to stay on. The practice also wanted to figure out a way to finance their expansion plans without taking out another bank loan.

Action and Result

A business efficiency structure was implemented that created a program where employees would directly benefit from strong company performance. Recaptured funds of $80,000 were acquired in year one and could be loaned back to the Veterinarian to finance the real estate, marketing, and equipment costs needed for the practice expansion. In addition, the Vet will be able to retire at age 65 with approx. $6mm in his tax-free retirement account due to the repurposed funds going directly towards his retirement income.

Younify Consulting Financial Strategies for Small Businesses, Law, Accounting-contractor-homebuilder-colorado-springs

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Building Contractor

Client

A building contractor with 14 employees – age 51. Gross receipts of $6mm and currently has 401(k) and Simple IRA in place. Wants to retire at age 60 and sell business to his
son. He only had $350k in retirement income saved thus far.

Business Challenge

The retirement funds offered to the employees were negatively affected by the market downturn in 2008 resulting in a 40% reduction in funds across the board. In addition, the builder and his wife had to drastically increase their retirement fund within the next 9 years.

Goals

Goal for the contracting firm was to modernize the 401k plans offered to the employees to include a pension like option that was not susceptible to market downturns. The contractor also had aspirations to expand his business over the next two years including access to a fund that could be utilized for marketing, real estate purchases and equipment.

Action and Results

A business efficiency plan was implemented, creating a revitalized employee retirement program where each employee would have guaranteed income for life and saved the builder 35% in annual fees. In addition, $300,000 was recaptured in year one, allowing the contractor to fund the expansion. The contractor was also able to contribute up to $400,000 per year in recaptured dollars toward his retirement account. Currently, he is set to retire at age 60 with approx. $8.5mm in his account to be utilized tax free.

Younify Consulting Financial Strategies for Small Businesses, Law, Accounting-medical-health-colorado-springs

By admin

Physician

Client

A Doctor from Colorado Springs, single practitioner working at a hospital, age 55. He has adjusted gross income of $598,782 and a 401(k) with additional IRAs. The goal is
retirement at age 66. Taxes paid in 2010 – $106,403; in 2011 – $160,000; and in 2012 – $165,000 (prior to implementing any Business Efficiency Structures).

Goals

The goal was to finance his practice’s expansion without increasing his debt. He was also trying to add additional savings to his retirement account, knowing that he would want to retire after selling his practice in 11 years.

Business Challenge

The doctor’s administration services were disjointed and disorganized. The doctor also wanted to expand to bring in a new partner who would eventually buy out his practice.

Action and Result

A business efficiency structure was implemented that allowed the Doctor to completely streamline his administration services team, recapture over $125,000 a year in accessible funds that could then be leveraged to bring in the new partner he wanted. In addition, he was able to contribute up to $500,000 per year, in re-purposed dollars, directly into his retirement account, which will result in approx. $3.5mm available by the time he turns 66.

Younify Consulting Financial Strategies for Small Businesses, Law, Accounting-financial-homebuilder-colorado-springs
Homebuilder
Younify Consulting Financial Strategies for Small Businesses, Law, Accounting
Auto Collision Shop
Younify Consulting Financial Strategies for Small Businesses, Law, Accounting-financial-vet-colorado-springs
Veterinarian Practice
Younify Consulting Financial Strategies for Small Businesses, Law, Accounting-contractor-homebuilder-colorado-springs
Building Contractor
Younify Consulting Financial Strategies for Small Businesses, Law, Accounting-medical-health-colorado-springs
Physician