Planning ahead to maximize proceeds and minimize tax
Whether you plan to sell your business or transition it to the next generation there will be decisions to make and planning to be completed.
To maximize proceeds and/or minimize tax, planning must begin well in advance of the anticipated transition date. Putting in place a formal succession plan will ensure stability for employees and customers through the transition period as well as ensure a stable and predictable retirement income stream for the owner.
Benefits of planning for business succession:
- Ensure a smooth transition for family and stakeholders
- Fortify the value of your business
- Prepare for unexpected events like an illness or accident
- Protect the legacy of your business
To learn more about preparing for a successful business transition, please click here.