7Streams Financial Planning serves executives, business owners, professionals and highly compensated individuals who share the desire to reduce their personal tax liability.
Business Owners | Small Business Owners
Nearly 91% of all Fortune 1000 companies provide a non-qualified plan to their key employees. Our basic business premise is to allow Small Business America to use the same vehicle for saving taxes that is used by corporate America.
Non-Qualified Deferred Compensation (NQDC) plans under Section 409A of the IRS Code allow one to contribute an unlimited amount of income to the plan each year on a pre-tax basis.
NQDC plans operate like a 401k plan but have no contribution limits and require strict compliance with the Enrollment, Funding and Distribution Rules of Section 409A. Non-Qualified Plans.
Non-profit entities are also allowed to provide a Non-Qualified Deferred Compensation Plan but these plans must comply with Code Section 457.
Voluntary/worksite benefits plans are 100% paid by the employee, who can choose which voluntary plans are best for their own situation. Some voluntary plans pay cash benefits directly to employees to cover living expenses, lost wages, copayments and deductibles.
Voluntary Plans, includes life, disability, dental and vision. Employers can provide a more robust workplace benefits package to employees without affecting their bottom line. Employees pay up to 100% for voluntary plans, but get the benefit of a group rate through their employer. We encourage employers to offer to offer voluntary benefits plans as a package for their employees.
Solutions for small business owners and their employees
There are several tax-free ways to save for retirement such as bonds or Roth IRAs, which have certain risks and limitations. They may either have a high risk or low returns, and some have contribution limits. One tax-free product that allows access to your cash value is an index universal life (IUL) insurance policy.
As long as your IUL policy is active, the cash you borrow from it does not have to be repaid. And, if you do not repay the policy loan, the loan balance will be deducted from the death benefit and the remaining benefit will be paid to the beneficiary. We will work with you to develop the right plan that meets your budget and coverage needs.
Personal Pension Plans
We help you eliminate market losses and retire with 50% more income. We’ve discovered an IRS approved way to safely grow your money, cut out the taxes, and protected your finances when the next market crash hits.
Whether you are just starting to plan for retirement or are nearing retirement, we can assist you with accumulating wealth and receiving distributions in retirement by setting up a personalized pension so that you will never run out of money.