Financial Planning for Business Owners

At Opes Financial Planning, we specialise in helping business owners navigate the complex financial landscape by creating tailored financial plans that seamlessly integrate both personal and business finances. Our CERTIFIED FINANCIAL PLANNER™ professionals understand that as a business owner, your financial needs extend beyond traditional planning—requiring a sophisticated approach to wealth extraction, tax planning, and long-term financial security.

With extensive experience as a specialist Financial Planning practice, we excel at developing and implementing comprehensive financial plans and business strategies. Our goal is to enhance your overall financial well-being whilst ensuring tax-efficient wealth transfer from your business to personal wealth over time.

Our personalised approach begins with understanding your unique financial history, analysing your current financial position, exploring what drives you, and identifying your financial goals for the future.

Through our advanced interactive cash flow modelling software, we create a detailed financial roadmap that visualises your financial future. This process helps identify potential shortfalls requiring attention and highlights opportunities to maximise your financial plan, giving you peace of mind about your financial decisions.

Personal & Business Finances: Integrated Planning for Business Owners

As a business owner, managing the complex relationship between your personal and business finances requires expert guidance and strategic planning. Regular financial reviews and staying informed about regulatory changes help protect your wealth and ensure long-term financial stability. Our certified financial planners understand that whilst keeping personal and business finances separate is crucial for legal and tax purposes, these two aspects of your financial life are inherently interconnected.

Our integrated approach addresses:

• Strategic separation: Maintaining distinct accounts and records whilst planning holistically
• Tax optimisation: Leveraging opportunities across both personal and business structures
• Cash flow coordination: Ensuring business income supports personal financial goals efficiently
• Risk protection: Comprehensive coverage that protects both business continuity and personal wealth
• Wealth extraction strategies: Tax-efficient methods to transfer business profits to personal wealth

Why Integrated Financial Planning Matters

Your business income directly impacts your personal financial security, whilst your personal financial health affects your ability to invest in and grow your business. Our financial planning services ensure:

• Optimal balance between reinvesting in your business and securing personal wealth
• Coordinated pension and investment strategies maximising tax benefits
• Protection planning that covers both business risks and personal needs
• Exit strategies that align business succession with personal retirement goals

By leveraging the tools and strategies available, individuals and business owners alike can navigate the complexities of finance with confidence. Whether you're managing day-to-day cash flow or planning for retirement, our tailored approach ensures your personal and business finances work together towards your long-term financial success.

Optimise Your Pension: Secure Your Financial Future Beyond Your Business

Whilst many business owners view their business as their retirement plan, our financial advisors strongly believe financial diversification is crucial for long-term financial security. Relying solely on your business for retirement income carries significant risk.

Contributing to a pension provides business owners with:

• More secure retirement planning with diversified income sources
• Tax-efficient savings through pension structures
• Employer contributions deductible against corporation tax
• No benefit-in-kind charges (income tax, PRSI, or USC)
• Choice of pension structures including PRSAs and Master Trust Occupational Pension Schemes

Tax Benefits of Pension Planning for Business Owners

Our expert financial planners ensure you maximise these pension advantages:

• Tax deferral: Taxes deferred until retirement when you'll typically face lower tax rates
• Tax-free lump sum: Pension funds offer substantial tax-free cash at retirement
• Tax-free growth: Investment growth within pension plans enjoys complete tax exemption
• Accelerated wealth accumulation: Tax-free status enables faster investment growth

Getting tailored advice about the most suitable pension plan for your individual circumstances is essential for optimal financial planning. A certified financial planner will assess your specific situation to recommend the most tax-efficient pension structure for your business and personal needs.

Want to maximise your pension tax benefits? Schedule a consultation with our pension specialists today.

Diversify Your Investment Portfolio: Balanced Wealth Management

Whilst prioritising business growth remains crucial, implementing a comprehensive investment strategy is equally vital for financial success. Our financial planning services help business owners diversify through:

• Corporate Investment Bonds for business funds
• Director pension contributions for personal wealth extraction
• Diversification across equities, bonds, and cash
• Risk management through balanced portfolio construction

This diversified investment approach provides financial resilience, cushioning potential setbacks if your business faces unexpected challenges. Our CERTIFIED FINANCIAL PLANNER™ professionals craft personalised investment portfolios tailored to your risk profile and financial goals.

Ready to build a resilient investment strategy? Contact us today to create your personalised portfolio.

Safeguard Against Risks: Comprehensive Financial Protection

Beyond insuring business assets, protecting yourself—your business's most valuable asset—is paramount. As the cornerstone of your business operations, insurance against death or illness ensures business continuity and financial security for your family.

Executive Income Protection - Secure Your Business Income

Executive Income Protection provides crucial financial protection for business owners facing illness or disability. Key features include:

• Maximum payment of 75% of pre-disability salary
• Coverage until return to work, normal retirement age, or death
• Non-BIK benefit with full cost tax-deductible as trading expense
• No Income Tax, PRSI, or USC implications
• Essential financial safety net for business continuity

Death in Service - Life Insurance for Business Owners

Your limited company can establish death in service (life insurance) coverage for employees, including business owners. Benefits include:

• Up to 4x salary paid tax-free to your estate
• Full cost tax-deductible as trading expense
• Provides financial security for your family
• Critical component of comprehensive financial planning

Shareholder Protection

Shareholder Protection involves life assurance policies ensuring smooth business transition. This financial planning tool:

• Secures funds for purchasing deceased shareholder's stake
• Protects remaining business owners from unwanted partners
• Ensures business continuity during difficult transitions

Keyperson Protection

This specialised life insurance protects your business against losing key employees by:

• Compensating for lost expertise and business income
• Repaying business loans if necessary
• Maintaining business stability during transitions

Protect your business from unforeseen risks. Speak with our advisors about comprehensive protection strategies.

Strategise Your Exit: Planning for Long-Term Financial Success

Even if exiting your business seems distant, advance planning yields significant financial rewards. Our financial planners help you:

• Determine your "magic number"—the amount needed to achieve your desired lifestyle
• View business sale as enhancement rather than necessity in your financial plan
• Prepare your business for optimal financial condition
• Explore various exit strategies including family succession, management buyouts, or strategic sales

Retirement Relief - Maximise Your Wealth Extraction

Retirement relief provides substantial Capital Gains Tax (CGT) relief when disposing of business assets, facilitating tax-efficient wealth transfer during retirement. Recent changes effective from 1 January 2025 include:

Disposals to a Child:

• Aged 55 to 69: Relief on qualifying assets up to €10 million
• Aged 70 and above: Relief capped at €3 million

Disposals to Others:

• Aged 55 to 69: Full relief up to €750,000
• Aged 70 and above: Relief limited to €500,000

These adjustments balance business succession facilitation with equitable tax treatment, supporting efficient business asset transfer whilst reflecting current economic considerations.

Entrepreneur Relief - Additional Tax Planning Opportunities

Entrepreneur relief reduces capital gains tax from 33% to 10% on business sales up to €1,000,000, providing another avenue for tax-efficient wealth extraction when transitioning from business ownership.

Planning your business exit? Let our financial planners help you maximise tax reliefs and secure your financial future.

Why Choose Opes Financial Planning for Your Business and Personal Financial Needs

Success as a business owner brings unique opportunities to maximise company benefits for personal enrichment. Our specialised financial planning services focus on:

• Efficient extraction of company profits during financial stability
• Integration of personal and business finances without mixing them inappropriately
• Comprehensive risk management strategies
• Tailored financial plans supporting both business growth and personal wealth accumulation

We believe financial planning for business owners requires specialist expertise. Our approach ensures you:

• Make informed decisions about your financial future
• Achieve your financial goals through structured planning
• Plan for long-term financial security and wealth preservation
• Extract wealth tax-efficiently from your business
• Prepare for retirement with confidence

Whether you're a sole trader or limited company owner, small business owner or established executive, Opes Financial Planning provides the expert financial advice you need to steer your business towards success whilst securing your personal financial future.

Ready to transform your approach to financial planning? Contact us today to discuss how our tailored financial planning services can help you achieve comprehensive financial success for both your business and personal life.