According to a recent statistic, 99.8% of US households are not subject to federal estate taxes because they fall below the new estate tax exemption limit of $5.43 million per person, or $10.86 million for a married couple (for the year 2015). The increase in the...
Keeping it in the Family For family businesses to succeed and remain in operation from one generation to the next, succession planning is a crucial procedure. Early planning is crucial, and each plan should be customized to meet the particular requirements of the...
In any competitive endeavor, there are two prevailing mindsets – there are those who are playing to win the ‘game’ and there are those who are playing not to lose. Business owners are playing the game of business. Each player in this game has quite a bit at stake...
Growing your business is a constant challenge, but it's essential if you want to achieve long-term success. While there are many strategies you can use to grow your business, financial growth strategies are among the most effective. By focusing on your finances, you...
What Happens When it's Time for You to Step Down and Hand Over the Reins? What Is Succession Planning? Succession planning ensures your legacy lives on, and your hard work continues to benefit your employees, customers, and community long after you have retired. It is...
Owners who start to think about exiting their business often fancy the idea that someone else will certainly want to own their company after them. These owners look at the struggles that they faced to get the business up and running relative to the stability and...
Two Sides to Every Story I’m sure you’ve heard the phrase, “There are two sides to every story” in your life many times. This phrase has special meaning for business owners who are often faced with the personal side of their story and a business side of their story....
Many business owners consider the wealth that they have accumulated in their businesses not only the product of years of hard work but also the result of blessings and good fortune that others have bestowed upon that owner to help on his/her path to success. And, when...
We recently met with the family of a business owner who passed away unexpectedly and left an ongoing business to his wife. The business did not have a management team in place and over the probate period, which took about a year, the employees were unable to keep the...
In the world of business advisory, the ability to ask powerful questions sets successful advisors apart. These questions have the potential to uncover hidden opportunities, identify critical challenges, and drive meaningful results for clients. One tool that can...
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