Visalia, CA CPA / Noell Agnew & Morse, LLP

Business succession planning -->

BUSINESS SUCCESSION PLANNING

You've worked incredibly hard to build a strong business. The next challenge is to exit or transition the business successfully, so you can enjoy the full reward of your efforts. When a business owner fails to plan an exit strategy, the results are often disastrous. Fortunately, there are proactive steps to effect this process.

Whether you are transferring ownership to family, employees or an outside buyer, detailed planning is essential. We bring proven expertise in developing successful strategies to help you smoothly exit or transition the business. After all, the goal is to keep the business on the right path after your departure.

As you begin thinking about your exit/transition strategy, it's important to begin thinking about a few key topics:

Timeframe for your departure
Employee dynamics
Family issues
Personal income needs
Tax implications

One of the key issues for many of our clients is the desire to balance the needs of children working in the business with those that are not involved with the business. While establishing a business succession plan is beneficial for all companies, it is essential when you consider the familial implications involved in the generational transfer of a business.

We can help you explore various options for exit/transition and provide insightful advice to help you make an informed decision. Within this process, we will consider the needs of the business and critical personal factors as well as the tax implications associated with the succession plan.