If you own a family business, eventually you have to look at what you're going to do with the business and what you need out of the family business to retire comfortably. You will be facing questions like:
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"What is going to become of the business once I retire?"
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"Do I have what I need to provide for my retirement?"
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"What is my business actually worth now and in the future?"
At Helfer & Company CPAs we help you with these important issues:
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Does it make sense to keep it in the family? Will you pass the business on to the next generation or will you sell it to an outside interest? Our succession planning tax services helps you consider the pros and cons of these different choices.
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Who will lead the business once I'm out of the picture? Managing a business and owning one are not the same. It may be better to have one of your children manage the business but give equal ownership of the business to each of your kids regardless of who's actively involved in the business and who's not.
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How do I reduce my tax costs? When transitioning a family business there can be significant tax costs. Our CPA accountant services help you minimize such costs to preserve as much of your investment as possible.
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How do I make this fair? The transfer of a family business can produce a great deal of stress and raise questions amongst family members. In doing our succession planning and estate planning we talk with family members to make sure each feels they are receiving their fair share from the family business.
We can help you with this important next step you face.
