How to Avoid 5 Common Seller Mistakes

How to Avoid 5 Common Seller Mistakes

It’s easy to make mistakes when you’re a first-time seller. No matter how successful your business or how well you know it and your industry, you may not be prepared for the complexities of preparing to sell, finding a buyer and negotiating a deal. To help ensure that your transaction is profitable — and actually crosses the finish line — be sure to avoid these common mistakes: Poor...

Who Will Succeed You? 9 Tips for Selecting the Right Person

Who Will Succeed You?  9 Tips for Selecting the Right Person

Not everyone looks forward to retirement.  Some business owners can’t imagine themselves sitting by a pond with a fishing pole or whatever else your idea of retirement may be.  But you likely will hand over the keys one day, and you must have a plan in place long before it’s time to walk out the door. Developing a succession plan encompasses a host of strategic and financial decisions, such...

How Can My Family Business Avoid a Succession Struggle?

How Can My Family Business Avoid a Succession Struggle?

It’s a common scenario in family-owned businesses. Two of the owner’s children inherit the company and, while one is eager to sell, the other wants to keep the business in the family. Unfortunately, such conflicts can erupt into open combat between heirs and even destroy the company. So it’s important for family business owners to make a succession plan — and to communicate it well before...

Benchmark Valuation for Southern California Companies Complimentary in March

As a business owner, knowing the value of your business is the key to ensuring your business succession and estate planning goals are on track.  As a law firm exclusively focused on the needs of business owners, our mission is to help ensure that an owner's business succession, estate, and wealth transfer planning goals become a reality. Our process begins by helping business owners understand...

Buying or selling a business?

Buying or selling a business?

Here’s what you need to know to get the best deal Thinking of buying a company?  You'll want to research a number of business and financial issues as well as certain legal issues. And, of course, there are numerous tax issues that you simply can’t ignore. Here are just a few. Determining the business structure If the business being sold is a corporation, the parties can structure the deal as...

Owner-Employees Face Distinctive Tax Planning Challenges

Owner-Employees Face Distinctive Tax Planning Challenges

Many business owners launch their companies from the front lines — as an employee. And it’s not uncommon for owners to stay in that role, working with their staff members to grow the business and guide its strategic direction. Come tax time, however, owner-employees face a variety of distinctive tax planning challenges. Partnerships and LLCs If you’re a partner in a partnership or a member...

Do You Need to File a Gift or Estate Tax Return?

Do You Need to File a Gift or Estate Tax Return?

If you’ve made substantial gifts to your loved ones, or if you’re the executor of someone’s estate, it’s important to understand the rules surrounding gift and estate tax returns. Determining whether you need to file a return can be confusing, and in some cases it’s advisable to file a return even if it’s not required. Here’s a brief summary of the rules. Gift taxes Generally, a...

Pet Trusts – Estate Planning for Animal Companions

Pet Trusts – Estate Planning for Animal Companions

Did you know you can provide for your companion animals in your revocable living trust? The courts have held in prior decisions that an outright gift to an animal is void.  In Estate of Russell (1968) 69 C2d 200, the court found that a dog, Roxy Russell, could not be a beneficiary of a will under the current law, which limited disposition of property to any “person." A "person" was defined to...

Transferring Ownership to the Next Generation

Transferring Ownership to the Next Generation

Family businesses rarely last after the second generation. So, if you want your business to continue to thrive — even after you’ve retired — you need to develop a succession plan for the future. One important step in the succession planning process is determining the best way to transfer ownership interests to the next generation. All in the family — or not The first thing many business...

Middle Market M&A Activity Picks Up in December

Middle Market M&A Activity Picks Up in December

According to the Mergers & Acquisitions M&A Conditions Index (MACI), momentum picked up in December for middle market M&A, reflecting enthusiasm about the election results as well as representing the traditional year-end push to wrap up deals.   The December composite score rose to 55.4, which tied for the highest composite score achieved in 2016. Survey participants suggested that...