Business Succession and Buy/Sell Agreements
Handling business succession is crucial for ensuring the future of any company. Advance planning can help you to make decisions that will enable your successors to retain your company or business while mitigating potential losses and taxes. The accounting experts at Camputaro and Associates can help you with this planning to ensure that you are making the best decisions and putting your business into the best hands, while saving assets or funds for your family or loved ones. For example, we can help you to properly evaluate the value of your business assets so that they can be sold to a partner or shareholder and transferred to your estate at your death.
We can walk you through your business succession options, and help you to make the best choices regarding costs, triggering events for buyouts, and specific setups to help you with tax. For example, if you choose to trigger the business buy-out at death, we can help you decide if your Buy/Sell agreement should be funded by your life insurance (to ensure that the agreement is funded) or paid in full by the partner or shareholders depending on your specific circumstances.
Camputaro and Associates can also help you consider other business succession issues such as taxation, estate tax, costs, potential losses, and the risks of business succession. This includes a business appraisal to determine the worth or value of the business and its assets, creating an agreement, determining losses in advance, and creating a cross purchase plan to ensure that the business ends up in the right hands no matter what.
Camputaro and Associates
Certified Public Accounting Firm
136 N. Orchard Street, Suite 8
Ormond Beach, FL 32174