Small Business Succession Planning
You have worked hard in your small business all your life and it has been your life. A lot of blood, sweat and tears define your years of operation. Now what will happen when you retire, die, or become seriously ill?
We can help you answer these questions:
- How many more years do you want to work? It takes 1 year, if not 5, to develop and enforce your succession plan.
- Are you planning on the revenue from the business for your retirement?
- Do you want to keep the business in your family?
- Who will run the business?
- What are the plans to minimize your tax bite when you retire?
Your Padgett accountant can assist your small business by:
- Securing a Business Valuation, completed by a Certified Business Valuator.
- Business restructuring.
- Minimizing the tax repercussions with tax projections.
- Financial planning with retirement considerations.
Call Christy at (586) 474-4855to start the process.