Category: Small Business
“Planning for changes to the estate tax and the valuation discount for small businesses can be challenging. Here’s how to take advantage of them now.” Trying to anticipate changes in the tax codes is like trying to time the stock market—a nearly impossible task. Most tax pundits guessed right when they said that President Trump […]
So, what happens to your business after you are gone? You have put a life’s work into developing your vision and building a successful business. What do you need now? An estate plan protects that life’s work, according to Bakersfield.com in “Estate planning tips for small business owners“. It makes sense. You’ve likely spent decades […]
Plan needs to address the owner’s personal life and the future of the business. Everyone needs an estate plan but small business owners need to take an additional step and plan for what they want to see happen to their business, according to grbj.com in “Estate planning for small businesses“. Some of the steps recommended […]
The last big M&A wave happened in the early 2000s, according to Ward. A very active M&A period is usually accompanied by a lot of debate, both within families, and at the policy level, about the pros and cons of having families or professional investors control businesses. Your business is likely an inherent part of […]
Here is an excellent video demonstrating how my mother in her 70s, learned to use technology to transform her love for teaching into the next chapter of her life! She authored a new children’s book, “Grandma Needs a Nap” under her Publishing Company “Grandma Press” which teaches our young children and their caregivers incredible life […]
Family businesses account for much of this country’s domestic product and are core to the American Dream. Whether it is a century-old international automobile manufacturer or a group of local dry-cleaners, family involvement in the business is a common goal. Like anything worth keeping, it takes work to preserve. A business is not merely a […]
For business owners that have also established their business as a corporation (not an option for partnerships), an Employee Stock Ownership Plan (or ESOP) may provide a better retirement option. How you go about selling your business is completely up to you. And for most, that moment is bittersweet. Bitter because you may say goodbye to […]
While your goal might be to attract the most qualified buyer that will pay the asking price and lead the company on a path of continued success, it is what you expect of your life post-sale that should constitute how you execute the deal. Done right, a business succession or sale requires the ability to […]
To ensure your exit goals are met and your family relationships remain intact, it’s important to clarify the family succession process right from the start. When you are a family business owner looking to pass the torch, the business is typically your greatest asset and likely the center of the family’s wellbeing. You cannot afford […]
An estimated 70% of businesses don’t have a family member capable or willing to assume responsibility. What are you doing to plan for the sale? A certain reality will eventually set in when it comes to the future of your business. And that reality is that some day you are not going to be there […]
