For many business owners, their company is their most valuable asset. But as they approach retirement, they may be faced with the daunting task of selling or transferring ownership of the business. When it comes to selling a business, taxes can be one of the biggest obstacles to maximizing the after-tax value of the company. That’s why it’s so important to collaborate with a group of experts who can help you navigate the complex tax landscape and achieve the best possible outcome from your business exit. But which experts should be on your business exit planning team?
At the heart of your business exit planning team is a certified public accountant (CPA), who can help you identify tax-efficient strategies for transferring ownership of your business. This may involve structuring the transaction as an installment sale, utilizing a charitable trust, or exploring other strategies that can reduce your tax liability.
Your Investment Advisor
In addition to a CPA, a business exit planning team may also include an investment advisor, who can help you invest the proceeds of the sale in a way that maximizes long-term growth while minimizing risk.
Your Financial Planner
A financial planner can also help you create a comprehensive financial plan that takes into account your retirement goals, estate planning needs, and other financial considerations.
A Certified Exit Planning Advisor (CEPA)
Finally, a certified exit planning advisor (CEPA) can help you prepare your business for sale and identify strategies for maximizing its value. This may involve improving operations, reducing costs, or increasing revenue in order to make the company more attractive to potential buyers.
The key to a successful business transition is to work closely with your exit planning team to develop a customized plan that takes into account your unique financial goals and circumstances. By collaborating with a CPA, investment advisor, financial planner, and certified exit planning advisor, business owners can maximize the after-tax value of their business and achieve a smooth, successful transition to retirement.
Of course, the cost of working with an exit planning team of experts can be significant. But in most cases, the savings generated from reduced taxes and increased investment returns will more than make up for the fees you pay.
Delap can help
At Delap, our team of certified public accountants (CPAs), certified financial planners (CFPs), MBAs, and certified exit planning advisors (CEPAs) has decades of experience helping business owners achieve successful business transitions. Whether you’re looking to sell your business outright, transfer ownership to family members or employees, or explore other options, we can help you develop a customized plan that takes into account your unique financial goals and circumstances.
By collaborating with our business exit planning team of experts, you can identify tax-efficient strategies for transferring ownership of your business, invest the proceeds in a way that maximizes long-term growth while minimizing risk, and create a comprehensive financial plan that takes into account your retirement goals, estate planning needs, and other financial considerations.
And with our proven track record of success, you can trust that we’ll help you achieve the best possible outcome. In fact, companies that engage in comprehensive exit planning typically sell for 20-50% more than those that do not, according to a study by the Exit Planning Institute.
If you’re a business owner looking to maximize the after-tax transferrable value of your business, don’t go it alone. Schedule a meeting with Delap’s team of CPAs, CFPs, MBAs, and certified exit planning advisors today. We’ll work closely with you to develop a customized plan that helps you achieve a smooth, successful transition to retirement and secure your financial future for years to come.
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