A job loss is bad but the tax implications could make it worse
Unemployment has been holding steady recently at 3.7%. But there are still some people losing their jobs — particularly in certain industries...
Sooner or later, it will be time to "hand over the reins" to the younger generation. But it's not as simple as walking out the door at retirement time with a few plaques in your hands. In order to improve the odds for continued success of your family business, you need to develop a plan of succession.
This situation may be complicated if you already have several relatives working for you. You may have to groom one of them for the top spot or divide up the responsibilities in a reasonable manner. Either way, you could be facing some difficult choices in the near future.
With that in mind, here are several practical suggestions:
A successful plan for succession should address all of these issues — and more. Don't leave the fate of your business to chance. Contact us for assistance.
Unemployment has been holding steady recently at 3.7%. But there are still some people losing their jobs — particularly in certain industries...
Few and far between are businesses that can either launch or grow without an infusion of outside capital. In some cases, that capital comes in the...
With the high cost of college, many parents begin saving with 529 plans when their children are babies. Contributions to these plans aren’t tax...