A business owner may know exactly how the company operates today without having decided who will run it five years from now. Selling to an outside buyer is one possibility. Passing ownership to a family member is another, and each choice brings a different set of financial questions.
Succession planning gives those decisions room to develop before an ownership transfer is imminent. Kevin J McHugh CPA PLLC works with business owners and their families on plans for transferring ownership to the next generation or new leadership. Its services cover internal transfers, potential buyers, business valuations, tax planning, retirement projections, and restructuring.
Decide What the Next Ownership Chapter Looks Like
A succession plan starts with a question that affects nearly everything that follows: Who is expected to own and lead the business next?
