We have provided answers to many of the frequently asked questions about insurance needs and terms in this section. Feel free to browse or use the term or keyword search to quickly identify answers to specific question you might have. If you don't find what you are looking for please contact us with your specific needs and we will find an answer to your question.
Business Succession Planning
Executive Benefit Programs
What is Business Succession Planning?
Eventually business owners face the challenge of either selling their business or transferring ownership to a family member. If you are considering business succession, the Zidd Agency can help you develop and implement a personalized succession strategy that maximizes the tax advantages for all parties involved while helping you reach your personal financial objectives. Working closely with us, the Zidd Agency will provide help and guidance throughout the entire succession process to ensure a smooth transition when you decide to transfer ownership. Please contact us or call for an appointment so that we can review your situation and provide you with a personalized estimate considering your particular needs
What is a Simplified Employee Pension Plan (SEP)?
A Simplified Employee Pension Plan (SEP) is a relatively uncomplicated retirement savings vehicles. A SEP allows employees to make contributions on a tax-favored basis to individual retirement accounts (IRAs) owned by the employees. SEPs are subject to minimal reporting and disclosure requirements. Under a SEP, an employee must set up an IRA to accept the employer's contributions. Employers may no longer set up Salary Reduction SEPs. However, employers are permitted to establish SIMPLE IRA plans with salary reduction contributions. If an employer had a salary reduction SEP, the employer may continue to allow salary reduction contributions to the plan. Please contact us or call for an appointment so that we can review your situation and provide you with a personalized estimate considering your particular needs