Business Owners

Business owners face a unique set of issues that requiring good planning. Owners often do not consider a range of threats and issues facing their businesses because they simply fail to plan. For many, they become so busy in the operating and guiding of their organizations that they can miss important key planning action items:

  • Business Continuation Planning
  • Business Succession Planning
  • Business Exit Planning
  • Business Valuations
  • Buy/Sell Agreement

Understanding what your business is worth impacts buy/sell agreements which often can be drawn, but due to neglect can go unfunded. If there is a disability or untimely death of the owner the health of the business is at serious risk. Valuations are also important when the owner(s) seeks to transition to retirement.

Many businesses fail to address a broad range of estate planning issues like business succession or exit planning and the importance of retaining key employees. As mentioned, an unforeseen disability can burden a business with a host of challenges, not to mention the cash flow pressures of continuing to pay a disabled owner(s).

Retirement income planning should also be a key business owner concern. Many business owners consider their business their retirement. But what if the health of the business is interrupted in the crucial 5-10 years prior to retirement? Further, what strategies exist to efficiently and effectively move resources out of the business to fund one’s retirement. What are the strategic tax and bracket management opportunities to be considered?

Because McKell Partners has its roots in public accounting, we work closely with our CPA strategic partners and available legal counsel to serve our business owner clients best.

Understandably, selling one’s business can create a heavy tax bill. McKell Partners has become an effective resource, along with our strategic partners, for companies looking to evaluate tax favored business exit planning options such as Employee Stock Option Plans (ESOP). As a member of the national ESOP Association, McKell Partners continues to invest time and effort to remain current on effective strategies to help businesses transition.

Let McKell Partners help you experience financial peace. 

team@mckellpartners.com |  (951)-521-1031

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