By Matt Lewis, CLTC, Vice President, Insurance Life insurance is designed to provide for your loved ones after your death, giving you peace of mind that their financial needs will be met without your income. But life insurance can benefit your financial planning in many other ways.
Chloe Quigley, CEPA, Business Exit Planning Advisor It’s come up in a few conversations lately, so I wanted to address it head on – as a business owner, when is the right time to learn about how to maximize the sale of your company?
Chloe Quigley, CEPA, Business Exit Planning Advisor Before you sell your business, you and your family need to know if you’re prepared financially. Here are some things to think about.
Chloe Quigley, CEPA, Business Exit Planning Advisor What’s the most important thing when selling your business? Certified Exit Planning Advisors know that there are three equally important components of an exit plan:
By Odaro Aisueni, CFP®, Wealth Planning Administrator As a small business owner, you’re likely so immersed in the routine functions of your business that you haven’t yet put much thought into the day you leave it behind. In fact, most small business owners have so much purpose t …
By Elizabeth Schanou, JD, CExPTM , Senior Wealth Planner Succession planning – or more accurately “business exit planning” – is a critical process that has weighty implications for small business owners. There are two key goals: You want to ensure a seamless transition that will pres …
The business succession process isn’t a “rainy day” task. It’s a living process that you should start as soon as possible. You’ve probably given it some thought and almost figured out how you want to transition your business, but an “almost” succession plan is no plan at all. Fill in the f …
Chloe Quigley, Business Exit Planning Advisor, CEPA Come November 2023 in Illinois, businesses with 5 employees (including part-time workers) are required to offer 401(k) plans.
Chloe Quigley, CEPA, Business Exit Planning Advisor In 2017, the Tax Cuts and Jobs Act was signed into law, passing a new tax incentive called Qualified Opportunity Zones. This program certified distressed low-income communities throughout the United States to qualify for new federal tax in …
Chloe Quigley, CEPA, Business Exit Planning Advisor Did you know you can get a charitable tax deduction, avoid estate taxes on a gift, and avoid a capital gains tax in the sale of your business through a donor advised fund (DAF)?
When should you start planning your exit strategy? If you’re a business owner, your exit path should already be on your mind, no matter how far away it might be.
Business Succession Planning Checklist
You remember your first day of business. But what about your last day? Succession planning is more complex than it may seem. Our guide walks you through the details.