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 586-323-2360 to start the process.

How Can We Help You or Your Small Business?

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