Overhead Expense Protection Massachusetts

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Overhead Expense Protection Massachusetts

You may be wondering what overhead expense protection in Massachusetts is exactly. It’s a type of insurance that reimburses business owners for business expenses sustained during their disability. Overhead expense protection in Massachusetts helps keep your business running while you are too hurt or sick to work.

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What is Covered Under Overhead Expense Protection in Massachusetts

Covered expenses under overhead expense protection in Massachusetts are typically those that are deductible for federal income tax purposes. It includes utilities, salaries, premiums for malpractice insurance, mortgage, rent, and more. Things like buying new inventory, your own salary, or property improvements aren’t covered by overhead expense protection in Massachusetts.

The Benefits of Getting Overhead Expense Protection in Massachusetts

If, for some reason, you’re temporarily unavailable to work, you’ll have significantly less revenue, but your bill will stay the same. This is where overhead expense protection in Massachusetts can help you.

It covers your fixed business expenses for up to 2 years after a disabling incident. Even though your revenue may decrease due to your disability or injury, your business can still stay afloat while you recuperate thanks to overhead expense protection in Massachusetts.

Overhead Expense Protection Massachusetts VS Personal Disability Insurance

We already discussed what overhead expense protection in Massachusetts is. A related product to it is personal disability insurance, which covers your personal salary while you’re injured and recovering. If you’re a solo practitioner or a partner in practice, it’s crucial for you to learn the things overhead expense protection in Massachusetts does that personal disability insurance can’t. Here are some of them:

Overhead Expense Protection in Massachusetts Covers Essential Business Operating Costs

Operating costs usually run as high as 60% of your business’ revenue. With that in mind, you can calculate the total amount of overhead expense protection in Massachusetts you need. Base it on expenses such as loan payments, maintenance services, rent and utilities, staff salaries, etc.

Overhead Expense Protection in Massachusetts Retains Your Most Loyal Employees

During a disability that affects your business revenue, it’s highly unlikely that you can afford to cover the salaries, payroll taxes, and benefits of your employees if you don’t have overhead expense protection in Massachusetts. This can make even the most loyal of your staff leave. Luckily, if you have overhead expense protection in Massachusetts, that’s something you won’t need to worry about.

Overhead Expense Protection in Massachusetts Can Help You Maintain Your Professional Momentum

Closing down your business due to you not having overhead expense protection in Massachusetts is a huge (and avoidable) waste. You’ve already spent time, money, and energy building your business up in your community. Don’t lose your momentum due to unforeseen circumstances by being ready and having overhead expense protection in Massachusetts.

Overhead Expense Protection in Massachusetts Helps Protect Your Personal Finances

Having a personal disability plan covers your family and personal expenses. However, if you only have that and no overhead expense protection in Massachusetts, you’re more likely to use your personal savings to keep your business afloat while you recuperate.

This can greatly affect, delay, or end your plans for your personal funds. Protect your personal finances by having overhead expense protection in Massachusetts.

Turn to Us for Quality Overhead Expense Protection in Massachusetts

Secure Benefits Northeast, LLC is here to help you with your need for overhead expense protection in Massachusetts and more. Our company believes that no one strategy fits everyone, which is why every client gets our undivided attention. We take a proactive approach in helping you with your options for overhead expense protection in Massachusetts. Through our services and products, we want to keep you on track toward a meaningful and purpose-driven financial future.

We invite you to discover and experience the power of our overhead expense protection in Massachusetts. If you have any questions or inquiries for us, contact us. We look forward to helping you in your journey of finding the right choice.

Protecting Public and Private Organizations

Most small- to medium-sized company owners do not often plan for accidents, sickness, or even the passing of a business partner or their executives. These situations are somewhat not included in the proprietors’ priority list, which is understandable because they have to oversee a lot of things. However, it’s vital for any organization to have contingency plans and programs in place in case any unfortunate event occurs.

At Secure Benefits Northeast, LLC, we aim to provide customized financial solutions to executives, industry professionals, and company owners. Our team of specialists has decades of experience in helping organizations stay afloat throughout economic fluctuations and cycles. We understand your needs and objectives, and we are here to assist you in achieving them.

Plans and Programs We Offer

As your strategic advisor, we can recommend programs that are fully in line with your company goals. We are knowledgeable about supplemental non-qualified retirement and deferred compensation plans, company stock, phantom or synthetic stock planning, and business succession design and planning. Our professionals provide expert counsel and financial advice to a wide range of profit and non-profit executives.

Business Succession Plan

Preparing for your organization’s future is very important and should not be put off. Our team can work with you and other advisors closely to develop and implement transition strategies that can protect your firm’s future. We use a proprietary system in determining your company’s value to help us plan beyond the succession for other concerns, such as financing, estate, and inheritance taxes.

Our strategic advisors have devised transition plans that have helped secure more than 200 businesses’ future. Whether you’re in a proprietorship, partnership, C corporation, or a pass-through entity, our company is here to help you establish a program for a secure succession.

Recruitment and Retention Plans for Company Executives

In order to recruit top-performing industry leaders, you will need a competitive benefits package that maximizes value for you and your employees. We specialize in crafting customized supplemental non-qualified retirement and deferred compensation plans for businesses. We also offer user-friendly communication and access systems to aid in administering these programs.

Recruitment and Retention Plans for Non-Profit Organization Executives

Secure Benefits Northeast, LLC also works with tax-exempt organizations in determining the appropriate compensation for their key stakeholders. This includes life insurance, disability benefits, and retirement programs. Our team can guide you through the comprehensive fiduciary process with our expert knowledge in tax compliance and requirements.

With our guide, you will also be able to provide compensation packages that can substitute stock options and grants for your association’s leaders. We understand that your executives are not volunteers, so they should be presented with great benefits that are in accordance with your institution’s size and the challenges they face.

Physician Alignment Strategies

We have helped a lot of medical institutions recruit, retain, and incentivize their physicians through our well-developed plans. With these, you will be able to protect your company and practices from financial loss when a doctor is unable to work due to an injury or illness.

Our advisors can also help your healthcare institution face challenges, such as physician shortage, head-on with our customized alignment strategies. Our team ensures that each plan we implement is aligned with your organization’s goals and will meet statutory rules and guidelines.

Turn to Our Strategic Advisors at Secure Benefits Northeast, LLC

If you are in need of a comprehensive specialist to provide you with customized financial solutions, we have you covered. Our team at Secure Benefits Northeast, LLC has more than 50 years of experience in working with a wide range of companies, including family businesses, non-profit organizations, credit unions, and medical institutions.

We are here to help you protect your company and employees from financial loss due to unforeseen occurrences. Our professionals can also assist you in crafting a tailored benefits package so you can recruit and retain key executives to your firm. Get in touch with us today!

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