Transferring a Family Business
70% of family run businesses do not make it to the second generation and a full 90% do not make it to the 3rd generation. Often this is due to a business weakness of the person assuming control of the business. But, even if the person taking over the business is fully capable, how can control be passed in a very tax-efficient manner?
Here is where TOLCO Financial $trategies can provide some guidance. We think we can greatly improve the chances of a successful transition of control.
Selling Your Business
The sale of your business is frequently a very attractive method of getting the value from your business.
- How do you value your business?
- Who is going to buy it?
- If your key employees buy the business, how do they pay you the true value?
- What is the most tax-efficient way to handle the sale? We are not accountants or tax lawyers and we suggest you involve them in the decision.
However, we can offer some very interesting estate planning considerations.
Your business is not worth what you think it is valued. It is worth what someone else will pay for it.