In our opinion, one of the most difficult aspects of a business succession plan is making the choice of who will lead the next generation of the business. Despite the […]

Do you know what your business is worth through the lens of a knowledgeable buyer? Would it have a materially higher value if you are willing to continue applying considerable […]

Like the door 1, 2 and 3 choices of the popular 1960-70’s era game show Let’s Make a Deal, there are three generic doors to choose from in the business […]

In our last blog, we identified hurdles that often lead to procrastination on business succession. We will revisit those hurdles and offer strategies to overcome them. In doing so, the […]

In his book Flash Foresight, Daniel Burrus points out that supply has never caught up with the generational demands of the baby boomer generation.  Despite obvious signs that the U.S. […]

Individual Retirement Accounts (IRA) and employer sponsored retirement plans are tax deferred vehicles commonly used to save for retirement.  Each of these accounts are subject to annual contribution limits that […]

Generally, a deceased person’s assets are distributed at death in accordance with the terms of a Will or, if a Will was not prepared, in accordance with the statutes of […]

The topic of backdoor and mega backdoor Roths have received recent attention.  The attraction to Roth retirement accounts is understandable as contributions grow tax free and future withdrawals are taken […]

Are You Prepared If The Tax Laws Change? You have likely heard by now that President Biden has offered various suggestions and proposals to make changes to the tax code.  […]

Developing a plan for business succession is one of the most important, and often procrastinated, decisions a business owner will face. Unfortunately, a sudden event may become the catalyst upon which succession decisions must be hastily made for those owners who procrastinate. When a business succession plan is developed with a runway for implementation, the owner may avail him/herself with a number of options that may not be available if succession decisions must be made in haste.