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Which Comes First? Estate Planning or Exit Planning?
A successful business Exit Plan achieves three important owner goals:
Financial Security: The business sale or transfer provides the amount of income the owner and owner’s family need after the owner’s exit.
The Right Person: The owner chooses his or her successor (children, key employees, co-owners, or a third party).
Income Tax Minimization: The owner minimizes the amount of cash the government takes out of his or her pocket.
Financial Security: The business sale or transfer provides the amount of income the owner and owner’s family need after the owner’s exit.
The Right Person: The owner chooses his or her successor (children, key employees, co-owners, or a third party).
Income Tax Minimization: The owner minimizes the amount of cash the government takes out of his or her pocket.