Many business owners support the lifestyles of their family, employees, and others they care about by means of running a successful business. Usually, those business owners don’t anticipate dying or becoming incapacitated before they are ready to leave their businesses. While an unexpected death or incapacitation may not be entirely in your control, there are […]
Having a valuable business could position you to do the things you want in both your personal and professional life, from taking advantage of the perks of owning a successful business now to planning for your eventual retirement and cementing your legacy. But how can you begin to make your business more valuable than it […]
How to Maintain Your Business Resolutions The New Year brings fresh opportunities to set ambitious goals for your business. Many business owners set bold resolutions on January 1st. But how do you ensure those resolutions last beyond January? Here are some tips to help you stay focused. Set SMART Goals The foundation of any resolution […]
The Tax Cuts and Jobs Act (TCJA) of 2017 is scheduled to have many important provisions expire at the end of 2025. These expiring provisions could have immense impacts on business owners. Today, we are going to focus on three of the biggest changes that you can anticipate and address before these provisions sunset. 1. The End of the Qualified Business […]
The key to business growth often lies in the installation of Value Drivers. Value Drivers are elements of your business that can help you make it attractive to potential buyers as you approach your inevitable business exit and could help you grow your business while you’re still running it. Today, we’ll look at a fictional […]
Are you Ready to Exit from Your Business? Knowing when and how to prepare for your exit can be a challenge. You may find yourself overwhelmed by the looming questions and unknowns. In the name of avoiding oversimplification and stating the obvious, we will do just that – the decision to sell your company comes […]
Choosing a successor to run your business is one of the most challenging decisions that you’ll make as a business owner. It can be especially challenging if the successor you choose isn’t the one everyone expects, which could lead to disagreements, fights, and chaos. Here are a few things to consider when choosing a successor […]
As we prepare for 2025, many business owners are considering how proposed policy changes could impact their exit strategy. If you’re planning to sell your business in 2025 or over the next few years, it is imperative you understand how potential economic shifts may affect the valuation, tax ramifications, and sale conditions for your business. […]
A recent Supreme Court case, Connelly v. United States, made an important ruling related to succession planning for closely held businesses. Today, we’ll look at what the ruling says, how it could affect you, and steps you could take to avoid paying more in taxes than is necessary. What Happened? Connelly v. United States settled […]
Many business owners have a fuzzy idea of what life looks like after they’re done working. But fewer business owners have a plan for how they’ll reach the life they want after they’re done working. Running a successful business is time consuming, so business owners often feel like they don’thave time to plan for something […]
