Every business owner eventually faces the question: What do you do with your business when you no longer want to run it. There are any number of possible answers to this question, including:
Selling to employees;
Selling to outsiders;
Transferring the business to family members who are either active or inactive in the business.
Over the years, CBIZ MHM has been involved in numerous business transitions of all types and sizes. Our professionals have found that the most successful transitions involve those that are well thought out and planned for ahead of time. By engaging in proactive planning, you can ensure that you have the right roadmap in place, alleviating the burden of last minute planning and creating a smoothe and well defined transition period to turn the business over to new ownership.
As you contemplate these and other succession choices, we highly recommend you seek to minimize the income, gift and estate tax liability for yourself and your heirs. CBIZ MHM is unique in that it can provide the full array of planning services you need under one roof, providing you peace of mind in planning for that day when you are ready to move on to new challenges in life. Let us help walk you through the vital steps to creating a successful succession plan and ensure that you leave behind the right legacy.
For more information on Business Succession Planning or to set up an initial consultation, contact your local CBIZ MHM office.