Focus Areas


Business Owners

A mutually designed “Action Plan” will be designed integrating your objectives and utilizing your entire advisory team which generally includes your accountant and attorney. Responsibilities are assigned and agreed upon along with commitments to the completion of various tasks. Either we, or another member of your advisory team, can take the lead to reduce the amount of time you spend to monitor the progress of your plan. The plan can be based upon a singular objective or a need for ongoing resources.

Workplace Financial can assist with creating a plan and help build a strategy that works for your company.


College Education

It amazes us every year how many parents wait to start the college planning process until the second half of the students Junior year only to find out that if they had started earlier. 

The two keys to a successful college planning experience are educating yourself (the earlier you start, the better off you will be) and developing a plan or road map which will guide you to the best possible route.

Workplace Financial can help you build a strategy that will fund college and allow your children to retire in style. 

Business Valuation Services

To better understand your business and its potential


During Buy/Sell Agreements with business partners


To ensure that your business and your family are protected


To know the value of your largest asset in order to properly plan your retirement


To plan for the future of your business with a qualified succession plan


When considering funding capital expenses or acquistion opportunities


Business Owner: Deferred Tax Strategy

IRA Maximizer

Using 401k to purchase Index Universal Life Insurance.

Planning for your retirement may also impact someone else in your life, such as a spouse or partner.

Life insurance can help “self-complete” your retirement plan, helping to make sure that your goals for their retirement can be met. Buying life insurance inside your qualified plan may be an affordable, tax-efficient way of meeting both your business and personal insurance needs.

The advantages of purchasing life insurance inside your qualified plan include:

  • Premiums are paid for with tax-deductible plan contribution dollars, freeing up personal dollars
  • Should death occur before you've had time to accumulate your retirement account, the life insurance proceeds can help complete your retirement savings for your family
  • At retirement, the policy can be transferred to you to personally own, providing continuous personal protection for you and your beneficiaries

How does life insurance in your plan free up money for you?

If you were to purchase the same amount of life insurance outside your qualified plan, you would need to gross up your income in order to net the same premium paid from qualified plan dollars.

For example, assuming you're in a 34% personal income tax bracket:

Qualified Plan:

Gross Amount to Pay Premium: $12,500                

Taxes Due: $0

Net Amount to Pay Premium: $12,500                    

Out of Pocket:

Gross Amount to Pay Premium::$18,939

Taxes Due: $6,439

Net Amount to Pay Premium: $12,500

How it works:

  • The policy is applied for and owned by your pension trust, however, you name who the beneficiary will be of the insurance proceeds
  • A portion of your deductible plan contribution is used to pay the insurance premium
  • The life insurance cash value is attributed to your retirement savings, and because it is accumulated using pre-tax dollars, is subject to income taxes when received either through distribution at retirement or upon death
  • The death benefit in excess of the cash value is received by your beneficiary income-tax free
  • Because your pension is providing a tax-free benefit to your beneficiary, you will need to pay a small annual tax on this "economic benefit" which may be recovered at retirement
  • At retirement, the insurance policy can be transferred to you as part of your retirement distribution
  • Once you personally own the life insurance policy, you may choose to access the policy cash value, through loans and withdrawals, to help supplement your retirement income.

Our focus is to make sure that you get the information you need to help you protect your business and family. Please complete the Contact Us section to explore this strategy.


Business Owner: Reduced Tax Strategy

Prime Path 12

Using SEP to reduce corporate taxes and fund retirement.

What is a SEP IRA?

A Simplified Employee Pension (SEP) is an IRA, which is funded exclusively by employer contributions. A SEP provides a means of retirement savings for self-employed persons and employees of small businesses. The SEP can be a simple alternative to more complicated and costly qualified plans.

Who is eligible to participate in a SEP IRA?

All employees that meet the following conditions are eligible to participate in a SEP IRA: 

1. The employee is at least 21 years old. 2. The employee has performed services for the employer in at least three of the immediately preceding five years. 

3. The employee has earned at least $600 in total compensation during the year. 

4. The employee is not covered under a collective bargaining agreement. 

5. The employee is not a nonresident alien.

The employer may offer less restrictive eligibility requirements than those listed above, but they may not be more restrictive.

How much may be contributed to a SEP IRA?

The employer may contribute the lesser of 25% of income or $56,000 for 2019 (subject to cost-of-living adjustments) on behalf of each eligible employee. The employer is not required to make a contribution every year, however provided that a contribution is made, the contribution must be made to all eligible participants on a non-discriminatory basis. 

The contributions are excluded from the employee’s gross income and will not be reported as taxable income on the employee’s form W-2. An advantage to the SEP IRA is that contributions may continue past age 70½, provided the employee is still working. However, the required minimum distribution RMD must begin by April 1st of the following year, which age 70.

What are the restrictions on a SEP IRA distribution?

You may withdraw SEP IRA funds at any time, and income taxes will be payable on the entire amount. A 10% penalty tax may also be imposed if you are under 59½. Exceptions to this penalty tax (if under 591/2) are available. One such exception applies to those situations in which the funds are used by a first time homebuyer (subject to a $10,000 limitation). A second exception applies where a SEP IRA distribution is used for qualified educational expenses. However, ordinary income tax will be assessed upon the withdrawal. Please consult your tax advisor to determine whether these or other exceptions apply to your specific situation.

Additionally, you must begin taking required minimum distributions (RMDs) at age 70½. The RMDs are based on the owner’s life expectancy. The required beginning date for an RMD is April 1 of the calendar year following the calendar year in which age 70½ is attained.

Our focus is to make sure that you get the information you need to help you protect your business and family. Please complete the Contact Us section to explore this strategy.


College Funding Strategies

Allianz Life Indexed Universal Life Insurance

Investing in Life Insurance to Fund College Tuition

A college education may be the key to a better job for most Americans, but it comes at an alarmingly high cost these days. The average bill for tuition and fees was $34,740 at private colleges in the 2017–2018 school year, according to the College Board. The average was $9,970 for state residents at public colleges and $25,620 for out-of-state students at public universities.

Here’s how Indexed Universal Life insurance works as a college savings strategy:: 

For every dollar you pay in premiums, a portion goes towards the death benefit and another portion is diverted to a separate cash-value account. From an investment perspective, whole life insurance is generally the safest version. The issuerer credits your account by a guaranteed amount, although it may pay more if the investments perform well. Most policyholders can expect anywhere from a 3% to a 6% return after the first several years.

When it’s time for your son or daughter to start college, you can take out a loan against your cash balance. The insurer will reduce your death benefit if you don’t pay back the loan, but that’s not necessarily a drawback for those who intended the policy primarily as a college savings plan.

In most cases, the principal portions of these loans are tax-free. 

In the resources section of the website, several "sample" illustrations are loaded to provide a representation of typical plans for 4, 6, 8, 10 year old future college graduates. 


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Workplace Financial LLC

293 Olmsted Boulevard, Pinehurst, North Carolina 28374, United States



Monday - Friday: 8:30am - 6pm

Saturday: By appointment

Sunday: Closed