The APG Blog

Atlantic Planning Group Experiences Continued Growth

Posted by Atlantic Planning Group @ 9:55am on March 29, 2018

Michael Broderick and Chris Battersby, founders of Atlantic Planning Group, have recently hired two new financial advisors, Duke Martin and Chris Eppich, to join their growing firm.

“We are delighted to have Duke and Chris join the Atlantic Planning Group team,” said Broderick. “Their experience serving individuals and business owners is a great asset to our company and community.”

Prior to joining the firm, Duke Martin earned his Bachelor of Science in finance and marketing from Boston College in 2001 and went on to earn two designations from the American College...

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Five Star Professional Recognizes Atlantic Planning Group

Posted by Atlantic Planning Group @ 4:20pm on March 7, 2018

Atlantic Planning Group is delighted to announce that Michael Broderick, Christopher Battersby, Jason Vanderstreet, and Duke Martin have all been selected as Five Star Wealth Managers.

Five Star Professionals partnered with Boston Magazine to seek out wealth managers that provide the highest level of service to their clients. Winners of this great achievement are featured in both publications.

The Atlantic Planning Group team is very honored to receive this award. It is the seventh consecutive year that Michael Broderick and Christopher Battersby are being recognized as Five Star Wealth Managers, the fourth consecutive year Jason Vanderstreet has been recognized, and Duke Martin is a first-time recipient of the award.

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Tax Cuts and Jobs Act (H.R. 1)

Posted by Atlantic Planning Group @ 8:05am on February 2, 2018

The “Tax Cuts and Jobs Act” (TCJA) has been passed by Congress and signed by President Trump. TCJA contains major tax revisions to the federal Internal Revenue Code (IRC). This enactment followed Joint Conference Committee modifications to bills passed by each chamber in mid-December 2017.

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Tax Cuts and Jobs Act of 2017

Posted by Atlantic Planning Group @ 12:10pm on January 8, 2018

On December 22, 2017, President Trump signed the Tax Cuts and Jobs Act of 2017, securing a hard-fought victory on the legislative front for a Republican Congress stymied on other efforts during a tumultuous year. While the bill makes good on several key reform initiatives for the GOP, the price of passing legislation without any Democratic support whatsoever is a built in “kill switch” that sunsets major elements of the bill after eight (8) years. As a result, the ultimate fate of this latest round of tax reform appears tied to the economic benefits such reform has promised. Absent meaningful broad based cuts and improved growth in the private sector, it is likely that the GOP will not be in a position to secure a greater durability for the changes. While “permanence” of tax law is never assured, the automatic sunset introduces an additional wild card that makes effective tax planning a continuous challenge.

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Five Star Professional Recognizes Atlantic Planning Group

Posted by Atlantic Planning Group @ 3:00pm on August 26, 2017

Five Star Professional is delighted to announce that Jason Vanderstreet, Michael Broderick, and Christopher Battersby of Atlantic Planning Group have all been selected as Five Star Wealth Managers.

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Atlantic Planning Group Advisors Named to New York Life's Council

Posted by Atlantic Planning Group @ 3:00pm on August 26, 2017

Chris Battersby and Michael Broderick have been named members of the 2017 Chairman’s Council of New York Life. Members of the elite Chairman’s Council rank in the top three percent of New York Life’s elite sales force of more than 12,000 licensed agents in sales achievement.

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Michael Broderick Earns Retirement Income Certified Professional® (RICP®) Designation

Posted by Atlantic Planning Group @ 2:50pm on April 24, 2017

Michael Broderick, Managing Partner, Atlantic Planning Group has earned the Retirement Income Certified Professional® (RICP®) designation from The American College of Financial Services, Bryn Mawr, PA.

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Taxation of Business Entities

Posted by Atlantic Planning Group @ 12:30pm on January 11, 2017

Certain tax issues arise when distributing assets, including cash from a business. The type of entity the business is organized as largely determines what the tax consequences will be. C corporations, S corporations, partnerships, and sole proprietorships each have certain business advantages and disadvantages and are taxed differently. A limited liability company (LLC) can elect whether it will be taxed as a C corporation, S corporation, partnership, or, if it has only one member, a sole proprietorship. A sole proprietorship is disregarded as an entity for tax purposes, and all property of the business is owned by the sole proprietor.

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Key Person Life Insurance

Posted by Atlantic Planning Group @ 1:10pm on December 5, 2016

  • Key person life insurance helps reimburse a business for economic loss when a key employee dies.
  • The insurance covers the life of an employee who is critical to the success and profitability of the business.
  • Key employee life insurance is not a specific type of policy, but a way to use life insurance to offset a business risk.

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Choosing the Right Insurance Mix

Posted by Atlantic Planning Group @ 9:00am on November 1, 2016

Should you purchase term insurance or is permanent insurance the better buy? If you already own a term policy, should you convert it to a permanent plan, such as whole life? Or is a flexible plan such as universal life the way to go?

There are no simple, easy answers to these questions. And that is not because the three kinds of insurance are so complex and difficult to understand—actually, the differences between them are basic and easily comprehensible, as we will see below. No, what makes these questions difficult is that the answers depend on you, your budget and your needs. One kind of insurance is not necessarily ‘better” than the other, and they are certainly not mutually exclusive. More than likely, your choice will not be “either/or” but “the best mix.”

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Executive Bonus Arrangement

Posted by Atlantic Planning Group @ 12:20pm on September 13, 2016

An executive bonus arrangement, also sometimes referred to as a “Section 162 Bonus Plan,” is a benefit arrangement in which an employer pays bonus compensation to selected executives in the form of premium payments on the executives’ personally owned life insurance policies. It is most easily described as employer-funded personal life insurance.

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Private Split Dollar

Posted by Atlantic Planning Group @ 10:25am on August 6, 2016

Split dollar life insurance is not a type of insurance, but rather a method for dividing the premiums, ownership interests, and benefits of a permanent life insurance policy between two parties. There are two basics forms of split dollar taxation: economic benefit regime and loan regime. Split dollar plans may be sponsored by an employer in a work setting, or an individual or trust in a private setting. This Guidepost discusses Private Split Dollar plans. A separate Guidepost is available that describes Employer Sponsored Split Dollar plans.

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Business Transfer Issues

Posted by Atlantic Planning Group @ 3:30pm on July 4, 2016

A will directs the disposition of your assets; but, when you do not want to leave your business to your heirs, you may also need a business purchase agreement (also known as a “buy-sell”) to outline the terms by which successor owners will acquire and continue the business. A buy-sell agreement is most helpful:

  • To create a guaranteed market for the sale of a business interest in the event of certain triggering events, such as death, disability, retirement, divorce, or bankruptcy;
  • If an owner would be unable or unwilling to continue running the business with the family of a departing owner;
  • Where the business involves a high amount of financial risk for a deceased’s owner’s family and it is preferable for the family to convert the business interest into cash at death;
  • To prevent all or part of the business from falling into the hands of “outsiders;”
  • To help establish the value of the business for federal and state estate tax purposes.

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Planning for Same-Sex Married Couples

Posted by Atlantic Planning Group @ 8:05am on June 12, 2016

On June 26, 2015 the Supreme Court issued the Obergefell v. Hodges opinion, holding that same-sex marriage must be recognized nationwide, invalidating state laws banning same-sex marriage. Prior to the Obergefell decision, fourteen states prohibited same-sex marriage. Though same-sex couples were able to avail themselves to all federal benefits of marriage after the Supreme Court’s 2013 United States v. Windsor decision, Obergefell allows same-sex married couples to now benefit from state level benefits associated with marriage. Obergefell provides same-sex couples with a broad range of state level spousal rights not previously afforded to same-sex couples.

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Combining Buy-Sell with Retirement Planning

Posted by Atlantic Planning Group @ 1:45pm on May 9, 2016

A Limited Liability Company (LLC) is an entity that offers business owners the liability protection of a corporation and the flexible tax characteristics of a partnership. Planners are putting LLCs to ever-greater use to help their clients address a wide variety of needs, from asset protection to estate planning. One area in which LLCs have shown themselves to be particularly useful is buy-sell planning for business owners in a manner that not only addresses the potential death of an owner, but also addresses retirement as well, in a tax-efficient manner. Business owners can utilize an LLC and cash value life insurance to formulate a comprehensive buy-sell plan.

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Business Valuation Concepts

Posted by Atlantic Planning Group @ 10:20am on April 3, 2016

Business valuation is an important, yet complex, process that is frequently employed in a variety of business contexts. It is generally necessary to ascertain the value of a business when: selling to a third party, gifting interests to related parties, obtaining business financing, establishing a value for estate tax purposes, or establishing a value for purposes of a buy-sell agreement. Valuation is a specialty often practiced by certified specialists and experts familiar with valuation standards, concepts, industry metrics, financial principles, and additional relevant factors and variables.

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Employer Funded Deferred Compensation: Supplemental Executive Retirement Plan (SERP)

Posted by Atlantic Planning Group @ 1:00pm on March 15, 2016

Basic Information: Key Employee (Key) is employed by ABC Company. The business does not have a qualified plan, and Key is concerned about his retirement.

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Five Star Wealth Manager Award

Posted by Atlantic Planning Group @ 2:04pm on February 2, 2016

Chris Battersby, Mike Broderick and Jason Vanderstreet were recognized as 2016 Boston Five Star Wealth Managers. This is Chris and Mike's fifth year to win the award and Jason's third, and they were featured as part of the special section in the February 2016 issue of Boston Magazine.

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