Transitioning your business can be complicated and have adverse tax consequences to both owners and buyers if not planned properly, especially if there are multiple owners with no buy/sell agreement dealing with death or disability. Every business is different and ownership transitions need to be appropriately planned to ensure both future and retiring owner’s business continuation.
At Dec & Benson CPAs we understand all aspects of ownership transition and will develop a plan specifically for you that will cover;
- Discussing the objectives of the transition plan with owners.
- Gathering, organization and analysis of historical data.
- Formulation of a preliminary plan.
- Reviewing the preliminary plan with management with the owners to determine appropriateness.
- Final review of the plan and implementation.