Nov 6, 2023 | Blog, Exit Planning
At some point, every business owner leaves the company, either voluntarily through retirement or otherwise. Some businesses will outlive their founders. Others can not survive without the continued involvement of a key owner-employee. And a few business concepts —...
Oct 24, 2022 | Advisory, Blog, Exit Planning
Succession planning is important in any business, but it is sometimes overlooked in family-owned operations. This is a big mistake. There are many family-run companies that no longer exist because of a poor succession plan or none at all. Begin the Conversation The...
Jun 22, 2021 | Blog, Closely Held Businesses, Exit Planning, Tax
Economic fallout from the COVID-19 pandemic has caused some small businesses to permanently close. No owner plans to close when entering into business, so the tax implications may not be front of mind when it comes time to shut operations down. The following provides...
Jun 21, 2021 | Blog, Closely Held Businesses, Exit Planning, Tax
Closing a business has important federal income tax implications that owners should understand. The following provides tax information owners of sole proprietorships and single-member (one-owner) limited liability companies (SMLLCs) need to know. Reporting Gains,...
Apr 30, 2021 | Blog, Closely Held Businesses, Exit Planning, The Valuation Report
While preparing your succession or estate plan, you should value your family business both internally and externally because your company has multiple values depending on the valuation standard used. The different results can help you determine whether to keep the...
Jul 24, 2019 | Exit Planning, The Valuation Report
Nearly 10,000 baby boomers turn age 65 every day. Many are in great health and look forward to a vibrant future. Some will continue to work, energetically leading their companies into the coming years. Others would like to retire but hesitate to sell their companies...
