The pros and cons of turning your home into a rental
If you’re buying a new home, you may have thought about keeping your current home and renting it out. In March, average rents for one- and...
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.
If you’re buying a new home, you may have thought about keeping your current home and renting it out. In March, average rents for one- and...
If your business doesn’t already have a retirement plan, it might be a good time to take the plunge. Current retirement plan rules allow for...
If you operate a business, or you’re starting a new one, you know records of income and expenses need to be kept. Specifically, you should carefully...