Weighing Taxes When Selling Your Business
Every small business owner must make an exit at some point. It’s an inevitable fact. In many of these cases, it involves selling the business, whether it’s to a new buyer, employees, the next generation of family, or some combination of these. What’s the best time to start planning your sale? The first day you’re […]
Family Business Growth Through Uncertainty
If you own a family business that’s been growing or seems poised for growth, you’re not alone. You’re also not alone if you feel more worried or concerned than ever, even while your revenue and headcount trend upward. For a small business owner, it comes with the territory. Newly released data from the bipartisan group […]
Study Reveals Who’s Most Likely to Cut Out Heirs
Who would have predicted this plotline: Agreeable and extroverted individuals are more likely to distribute wealth to their children unequally, while more calculating introverts appear likelier to divide their estate evenly among multiple heirs. Consultant Matthew Sommer, Ph.D., CFA, CFP®, and Kansas State University Assistant Professor of Personal Financial Planning HanNa Lim came to this […]
Overestimating Your Retirement Savings?
A recent study shows 28% of U.S. households think they’re on track for retirement but are actually at risk of falling short. Extremely surprising: High-income households are most likely to fall into this trap. The Center for Retirement Research at Boston College led the study based on data presented in the National Retirement Risk Index […]
Business Structure Myths Vs. Facts
Whether you’re new to entrepreneurship or you’ve been in business for years with a full staff and profitable company behind you, the need to evaluate (or re-evaluate) your business structure regularly will never disappear. The two main reasons: taxes and liabilities (sometimes the two go hand-in-hand). Many businesses start as sole proprietorships because the structure […]
Is It Time to Sell the Business?
Timing is everything. But what is the best “timing” when it comes to selling your business? It’s certainly an individual decision (no two business owners’ situations are alike). But to help identity what’s right for you and your business, look for these clues: Your business is doing well. It’s heartbreaking to witness business owners selling […]
Is Your Family Business Failing to Innovate?
Family businesses are typically slow to embrace change, which is a fatal liability these days. A failure to innovate is a significant reasonfamily businesses don’t make it past the first or second generation. Working with closely held family businesses throughout the years, we’ve seen the good and bad when it comes to succession. Here’s one […]
Moving From Family-Owned to Employee-Owned
Have you heard of Employee Stock Ownership Plans (ESOPs)? This particular employee-owned model is growing in popularity among manufacturers, professional and tech companies, real estate and construction businesses, and more. Alterman, Inc., one of San Antonio’s oldest and largest electrical contractors, is a great example. The family-owned company began in 1923. By about 1972, it […]
Sudden Death & Family Business Exits
We recently wrapped up the Fourth Annual San Antonio Exit Planning Summit with our Exit Planning Exchange (XPX) San Antonio colleagues. A common theme was a sobering but vitally important one for all business owners: How sudden illness or death can complicate business ownership and exit plans. Two stories stood out: The first was about […]
6 Family Business Succession Tips
There is only one certainty for business owners: You won’t be able to stay at the helm forever. You’ll exit, either by choice or by circumstance. Some business owners prepare years in advance for that day, but family business owners don’t often have such a clear vision in place. Overlooking a smart exit plan can […]