A buy-sell agreement spells out a business partner(s)’ exit from their company by requiring the remaining owners to purchase the departing partner(s)’ shares. An important component in any agreement is determining which valuation method [...]
As an entrepreneur, you poured your heart and soul into building your company. Now that it's thriving, how do you ensure success continues beyond your tenure? How do you ensure success if you want to [...]
You’ve worked hard, you’ve achieved success, and now it’s time for you to retire. But what comes next? For many business owners, the challenge of finding a purpose and identity after retirement can [...]
The Built-in-Gains Tax (BIG Tax) is an important concept to grasp when it comes to asset sales by companies that have converted from C-corp status to S-corp status. When an S-Corporation sells appreciated assets, such [...]
If you're a business owner, then you've probably heard of a letter of intent. But what is it exactly? A letter of intent is a legal document that outlines the major terms of an agreement [...]
As a business grows, so does the amount of responsibility. it's natural to think that we can do everything ourselves, especially when the business is smaller. However, as the business grows and begins to expand, [...]
As a business owner, it is understandable to be hesitant about paying for non-essential professional fees. However, obtaining a certified professional business valuation can actually help you avoid potential issues with the IRS and maximize [...]
Planning for a successful business future is an exercise in foresight and commitment. Without foresight, it may be difficult for you to determine what success means to you. Without commitment, even the best-laid plans will [...]
Surveys will tell us that about 25 percent of all business transfers happen between owner and child. Of course, this isn’t an owner’s only option. An owner may choose to sell to a third party, or [...]
Though exit planning for business owners continues to grow in popularity, there are still many misconceptions about the process. When owners clearly understand the reasons for exit planning, they often find that a strong exit [...]