Planning for major events can sometimes cause a sense of dread. Whether it’s planning a honeymoon, a long family trip, or a business exit, it’s easy to say, “I’ll do it later, when I’m less busy.” While planning a business exit should never encompass … [Read more...]
Are You Being Your Own Worst Enemy?
Many business owners believe that they want to sell their businesses to a third party when they first start considering their business exits. Owners who want to start planning for a third-party sale sometimes fear that tight-fisted buyers will be the … [Read more...]
What Business Owners Assume About Financial Planning Hurts Them
One of the most important goals of Exit Planning is to position business owners for post-exit financial security. To do that, business owners and their advisors must have several pieces of information: how much the business is currently worth, how … [Read more...]
Death Can Ruin Your Plans
Imagine building your business over several decades, beginning to plan your business exit, then dying unexpectedly before you can implement your plans. Business owners rarely think about how an unexpected death or permanent incapacitation can derail … [Read more...]
Even If You Never Plan to Exit Your Business, Exit Planning Can Still Help
Many business owners take pride in the businesses they’ve built. Some of those owners are so proud and dedicated to their businesses that they’d be happy dying at their desks, doing what they love. They believe that they can wait until they’re ready … [Read more...]
Why You’ll Need an Advisor Team
Exit Planning can be complex. Between setting your exit goals and transferring your business, you’ll attempt to build business value, find an appropriate successor or buyer, navigate perplexing tax implications, and keep your key employees onboard. … [Read more...]
Charitable Giving: Not a One Trick Pony
The beginning of a new year presents an opportunity for investors to recalibrate and review their goals. Often among these is a renewed endeavor to give back in a charitable fashion. While it may seem counterintuitive, the appropriate planning … [Read more...]
How the New Tax Structure Affects You
In late 2017, Congress passed a new tax law that will affect your taxes in 2018. There were many changes to the tax structure, both for people and businesses that may affect your decisions this year and come tax time next year. Here are some ways the … [Read more...]
Tax Reporting Mailing Dates
Important dates for taxes this year: Tax Form Mailing Dates - 2018 … [Read more...]
Tax Reform Arrives
By Jack Davidson, CPA, CFP® On Tuesday, December 19th, the House passed the tax reform bill with a vote of 227-203. The tax bill hit a late snag on Tuesday afternoon, as the Senate parliamentarian noted that the House-passed bill contained three … [Read more...]