Why should every business owner consider or revisit business succession planning at this time of year? The simple answer: Business succession planning protects owner and company alike. It protects all of the hard work and investment you've made in your business, now and in the future. 3 Key Takeaways About...
Passing a Business or Wealth to Your Children
A well-structured trust is a central estate planning tool for small businesses and closely held family business owners when passing a business or wealth to your children. This includes heirs, beneficiaries, and future generations of your family and spouses while minimizing the impact of taxation and maximizing control. The state...
Tax and Estate Planning for Small Business Owners and S Corporations with No Employees
Allen Barron provides tax and estate planning for small business owners and S Corporations without employees as part of our integrated tax, legal, estate planning, accounting and business advisory services. Many small business owners mistakenly believe business succession planning and estate planning is for those with substantial wealth. This is...
Estate Planning for Business Owners
What are some of the fundamental issues when estate planning for business owners? Why should every business owner have an estate plan? What are some of the primary issues to address in an effective estate plan for those who own an interest in a business or professional practice? What happens...
The Importance of Succession Planning for Business Owners
What is the importance of succession planning for business owners? Why should you be concerned about the development and implementation of a succession plan if you own a business or a significant interest in an LLC, S Corporation or C Corporation? Your business is a valuable asset, perhaps the most...
Your San Diego Business Succession Plan – “You Make the Plan, or a Plan Will Be Made for You!”
Why should you be thinking about your San Diego business succession plan as the year comes to a close? The National Law Review recently asked a great question: "Who is the better planner for your (business) affairs - You or the State? You Make the Plan, or a Plan Will...
Keys to Successful Business Succession Planning
What are the keys to successful business succession planning and when should you start? If you own a business, from an LLC to a large multinational corporation, you should have a succession plan in place. The unfortunate fact is less than 20% of California business owners have actually implemented a...