That depends on a number of factors, such as the marketplace the business resides in, the efficiency of your business along with the cost of capital and other factors. Our business valuation team would be happy to work with you to answer this question.

This really comes down quantifying the cost of retirement into today’s dollars and comparing that to your assets. Our wealth management team has helped many people answer this question’ they would welcome the opportunity to discuss with you.

The tax due on the sale of your business can vary substantially based on a number of factors. The entity structure and nature of assets can have a significant impact on the tax liability associated with a business sale. Our tax specialists can give you several options to minimize the tax due on the business sale.

Hopefully, this is a long-range goal as intentional planning will provide a successful transition. A good place to start is to get an idea of what your business is worth today. If it is not what you’d like; implement strategies to improve your company performance. Your company is worth more if it is performing efficiently.

Succession planning involves looking to understand a number of factors:
1) Your business and its strengths and weaknesses, 2) the marketplace that your business is in, 3) Look to transfer methods and understand the tax implications of each, 4) Develop strategies to achieve the chosen goal, 5) Be aware that you’ll need to update as events can cause a change of course.

A succession plan can maintain the viability of the business going forward and meet the financial needs of the retiring owner. The plan should also address the needs and fears of employees, creditors, customers and vendors. And of course, we hope to come alongside you in the early stages of drafting your plan to assist you in minimizing any taxes due when transition finally occurs.

A good place to start is to get an idea of what your business is worth today. If it is not what you’d like, implement strategies to improve your company performance. Your company is worth more if it is performing efficiently. Your company should perform favorably against industry benchmarks. Also look at your company from the buyer’s perspective. Buyers pay more from businesses with cash flow that easily transitions. How does your company cash flow transition?