We are expecting more volatility as daily corona-virus updates are communicated globally. We’re collectively aware of the uncertainty this situation has presented for us all. I think we can also agree this is a situation unlike any other we’ve ever navigated.
None of those statements discount the hardships our dynamic economic trajectory is currently presenting most of us with.
To diminish the financial side effects of the virus, Ark Financial implements strategies to strategically grow and protect your wealth. These are aimed to protect your legacy and those that depend on you.
The biggest thing you can focus on right now as an entrepreneur is to remain protected. That can feel like an action-less term or imply that you need to hide.
In practice financially, remaining protected can actually mean more action than you take normally:
(A)sset protection planning
(I)nsurance and investment planning
(N)et present value assessment
(P)ayroll tax credits
(R)esearch & development tax credits
(O)verall Liquidity Ratio
(T)ax efficient entity structuring
(E)arned Income credits
(C)haritable Remainder Trust
(T)ax liability assessments
(E)stimated tax payments
(D)efined benefit plans
Regardless of the strategies in place, we will all sustain some varying degree of hardships created from COVID-19. That should serve as a motivation to keep what we do have close.
As fiduciaries, we are your advocates in all matters financial. That often involves us being in the front lines with you in times of financial uncertainty.
It’s important to keep in mind that the markets have gone down like this in the past, and they have recovered every single time.
Here in times of risk and rebound,