This Ebook discusses how you, as a business owner, will to have to decide the right time to step out of the family business and how you will go about doing it.
Perhaps you have children or other family members who wish to continue the business after your retirement. With income, gift, and potential estate taxes, careful planning is required to transition your business to the next generation. Otherwise, you may leave less value for your beneficiaries to inherit than one had originally intended. Therefore, business succession planning must include ways not only to ensure the continuity of your business, but also to do so with the smallest possible tax consequences.
