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ESTATE PLANNING
Estate planning creates a master plan for the management of your property during life and the distribution of that property at death. For most people, estate planning aims to: Give more control over assets during life Provide care when disabled Allow for the transfer of wealth to whom and when wanted, at the lowest possible cost Common estate planning issues addressed in the wealth management process include: Transfer of wealth Minimization of transfer taxes Asset protection Charitable giving Wealth transfer planning involves the smooth transition and distribution of wealth according to your wishes. With proper estate planning, you decide to whom, how, and when your assets will be distributed, as well as who will manage your estate or business. Special issues you may deal with are providing financial security for others, planning for children of a previous marriage, equalizing inheritances fairly, and retiring from your business. Wealth transfer planning also involves the management of assets during disability or incapacity. A major goal of estate planning is to minimize potential taxes without interfering with your other financial goals. If you give away wealth, during life or at death, you may incur federal—and possibly state—taxes. You can help protect the assets you transfer from excessive depletion by understanding these taxes and the various strategies you can use to minimize them. If you own substantial assets, creditor protection can be a concern. Creditors can come in many forms. An asset protection plan first identifies potential exposure and then identifies preventive tools and strategies to reduce exposure. Asset protection planning deals with ownership issues, liability insurance, statutory protections, special needs trusts, offshore and domestic trusts, prenuptial agreements, divorce, and business dissolutions. Charitable giving is motivated by both personal and tax incentives. Congress encourages charitable giving through tax legislation that can minimize your income and estate taxes. Charitable planning involves selecting the gifted property and charitable structure that will target your needs. Our process does not end with estate planning but coordinates your estate plan with your overall plans for your business, investments, insurance, and employee benefits. This material has been provided for general informational purposes only and does not constitute either tax or legal advice. Investors should consult with a tax or legal professional regarding their individual situations.
BUSINESS PLANNING
Business planning focuses on issues specific to business owners and shareholders. For most business owners, the business is their most significant asset, and the financial success of that business has an immediate impact on the economic security of their families. Without proper planning, you may have difficulty tapping the value of your business to support your retirement, or your family may lose the value of your business at your death. Business planning coordinates the management of your business throughout its life cycle with: Risk management Distributions to the owners Succession planning Starting and running a business carries its own set of risk exposures, and there are several factors that can impact how safe your personal and business assets are from risk. These include, but are not limited to, the type of business entity you choose, the state you choose to do business in, as well as how you manage your business, your human resources, and your taxes. Business risk management identifies your options for handling these risks. Executive compensation focuses on both cash and noncash approaches. The size and structure of the business significantly influences your compensation systems. Large businesses tend to provide owners with sophisticated and sometimes complex compensation formulas. Small businesses tend to adopt a more straightforward compensation approach. Examples of compensation include insurance benefits, qualified retirement plans, stock options, personal performance initiatives, and other tax-advantaged nonqualified plans. Succession planning focuses on the transition of a business from an existing owner to a new owner. Although key factors vary extensively with business type and industry, there are some factors common to all business transitions, including the creation of a sellable business and the formulation of specific transition mechanics at time of sale. Additional succession planning issues include positioning a business for sale, determining valuation and terms, grooming senior management, and creating strategic alliances. This material has been provided for general informational purposes only. Investors should consult with a business planning professional regarding their individual situation.
TAXATION
Tax planning considers the tax implications of individual, investment, or business decisions, usually with the goal of minimizing tax liability. Although decisions are rarely made solely on their tax impact, you should have a working knowledge of the income or estate tax issues and costs involved. A major goal of tax planning is minimizing federal income tax liability. This can be achieved by: Reducing taxable income through income deferral or shifting Deduction planning Investment tax planning Year-end planning strategies Investment tax planning involves evaluating how to best position assets in order to minimize the amount of taxes you have to pay on an ongoing basis. This requires year-round planning, and it begins with an in-depth understanding of the tax implications of various investments and investment strategies, including: The treatment of wash sales Tax-exempt investments Gains and losses 1031 exchanges Qualified dividends Option strategies Tax-deferred investing Passive income and losses Mutual fund taxation If you give away wealth, during life or at death, you may incur federal taxes—and possibly additional state taxes. These taxes include gift, estate, income, and inheritance taxes. You can help protect the assets you transfer from excessive depletion by understanding these taxes and the various strategies you can use to minimize them. Tax issues are never far from the mind of the business owner, and it’s likely that many of the decisions you make will be tax-based. It starts with the formation of your business and continues through the sale. Your choice of business entity, how you pay out profits to the owners, and your accounting decisions will all have an effect on your tax liability. Some events in life—retirement, for example—come with tax considerations. Life event planning focuses on the impact of significant events on your life, as well as on the stages of your overall investment plan. This material has been provided for general informational purposes only and does not constitute either tax or legal advice. Investors should consult with a tax or legal professional regarding their individual situations.
Fast Transfer
Our Money transfer system is secure and easy. Send your funds to your beneficiaries within First Interest Credit Bank (FICB) or to other banks. Transfer within FICB is instant and to other banks may take 24 hours.
Deposit Funds
Account-holders of First Interest Credit Bank (FICB) are able to deposit their money through our several payment systems. We have online payment services like PayPal, Stripe, Paystack, Skrill, Flutterwave, Mollie, Payeer, etc.
Withdraw Funds
Account-holders of First Interest Credit Bank (FICB) are able to withdraw money from their account. Without verification, any withdrawal won't be completed, so you can trust FICB.
We provide our banking services all over the world
First Interest Credit Bank (FICB) is a secure and robust e-Banking getting popular all over the world nowadays. We offer the best FDR, DPS; Loan plans to our account holders
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