Selling Your Business
Congratulations! You've reached a point that many businesses aren't able to achieve. Whatever the reasons may be, you have decided to part ways with your baby, which you have grown to this point, and take the next steps in your life. We are here to help make the transition as seamless as possible!
What You Need To Know
Below are just a few key aspects that you should consider and watch out for when selling your business and transitioning to the next step. Each of these areas will play an important role in your future beyond a business owner and may affect each other in one way or another over the next few decades to come.
1) Bring in the right team of professionals
Having a trusted and experienced team of investment, financial, tax, insurance, and/or legal advisors on your side will help make the sale of your business much overwhelming, help you get the price you deserve for your hard work, and help make the transition seamless and effortless.
2) Consider financial, tax, and/or legal implications
Selling your business will surely have some sort of financial, tax, and/or legal implications. How will you manage your investments and finances post sale? How will your personal tax implications be affected during and after the sale? What type of legal documents will you need to put in place or change before and after the sale is completed? These are all questions that we an help you answer.
3) Have a plan in place for after the sale
Waiting until after the sale of your business is finalized to get organized and put a plan in place for your new wealth may not be the best approach. It is important to put a plan into place beforehand, and if and when situations change, then you can alter your plan if necessary. Otherwise, your plan will make the transition much smoother.
Common Mistakes
NOT WORKING WITH AN ADVISOR
An experienced team of advisors can help for a seemless transition
UNDERVALUING YOUR BUSINESS
Not valuing your business appropriately can affect the sale
NOT HAVING A PLAN IN PLACE
Thinking that you will figure it all out after you finalize a sale
Services You Should Consider
Selling your business can often be as complicated as starting and growing your business, but it doesn't have to be overwhelming. Depending on your unique circumstances, you may consider one or multiple of the following services to help you navigate the sale of your business, and your personal goals and needs in the future after the sale of your business is completed.
Investment Management
SAVE FOR YOUR FUTURE
It is important to have a plan in place ahead of time so that once a sale is finalized, you know how your new wealth will be managed and maintained for your future.
Tax Planning, Prep, & Filing
Insurance Planning
Estate Planning
COMPLY WITH TAX REGULATIONS
Ensure you complying with local, State, and Federal tax laws and regulations regarding accounting, payroll, taxes, and avoid costly mistakes.
EMPLOYEE BENEFITS
Your personal insurance needs and goals may have changed now that you no longer a business owner. It is important to reevaluate your personal situation.
PEACE OF MIND FOR THE FUTURE
Access our network of trusted attorneys that can help evaluate your estate planning needs and help make any changes you may need now that personal situation has changed.
Have Questions or Need Advice?
By offering most tax, investment, planning, and insurance services in-house, we are dedicated to helping you reduce fees and save time when it comes to helping you achieve your financial goals and needs. You will gain peace of mind knowing all of your affairs will be coordinated, aligned, and managed with one simple phone call.