If you own a family business in Illinois, retirement isn’t as easy as deciding not go into the office anymore. This is why succession planning is so important. Succession planning helps family businesses transition from the founder to the following generation.
We can help you with the following:
- Figuring out if you’re going keep the business in the family. We help weigh in the advantages and disadvantages.
- Reviewing your succession options. Management and ownership are not the same. One of your options might be to transfer management to one of your children, but transfer equal shares of business ownership to all of your children. We can explain your various options.
- We can help you minimize the tax bite when transitioning a family business.
- Our team can communicate with each of your family members to ensure everyone feels they are getting a fair share.
Comprehensive Tax Solutions, Inc., based in Mokena, Illinois can help you construct your succession plan focusing on the following:
- Business Valuation
- Business Restructuring
- Tax Consequences
- Retirement Projections
- Tax Projections
Visit our sister company’s website at Comprehensive Accounting Solutions or email us at email@example.com or call (708) 479-1711 or (708) 479-3313 for a complimentary consultation.