Business Owner, Are You Really Ready?
Ask yourself this – who will you be, not what will you do. Life is full of changes. I still remember my high school English teacher saying, “The only thing constant in life is change itself.” Selling a business or transitioning it to the next generation is one of these many changes. So what …
Decentralizing an owner from the business: What is employee value and how can I build it?
The most valuable businesses are always transition ready. When working with closely held businesses, it is common that a business owner plays a central role in the overall functioning of a business. Some common examples that we see: The business owner is the main driver of sales and new cus …
The Envelope Budgeting Trick
Chloe Quigley, Business Exit Planning Advisor Money impacts many parts of our lives and teaching your kids about financial planning starts with identifying and sharing your family values and goals around money. A tangible way to teach kids this is through a lesson my Dad taught me as …
Business Owner, Now is the Time to Talk to an Advisor
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?
What’s My Wealth Gap?
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.
The Three Components of a Successful Business Exit Plan Strategy
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:
Are You Offering a Competitive 401(k) Plan?
Chloe Copple, 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.
Is a Qualified Opportunity Zone the Right Opportunity for Me?
Chloe Copple, 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 inc …
Can I Use a Donor Advised Fund to Minimize Taxes in my Business Sale?
Chloe Copple, 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)?
Charitable Planning for Business Owners
Chloe Copple, CEPA, Business Exit Planning Advisor What does charitable generosity have to do with your company? Giving to charity has been engrained in my routine since I set 10% of my eighth birthday check aside for charity. I can understand how giving is a routine that takes diffe …
