Tag: Succession planning

New Taxes Are Likely


The future is highly predictable sometimes. In the United States there is a Federal Estate Tax plus similar taxes in some states.  There are state and municipal sales taxes but no federal sales tax. In Canada there is a national sales tax and no… Continue Reading “New Taxes Are Likely”

Fear The Unknown


“Fear the unknown” is not very good advice. The unknown is just that, unknown.  Could be good, could be bad, could be boring.  You need to know how to make it become part of the known and how to retain the knowledge.  That will… Continue Reading “Fear The Unknown”

Successful Succession Is Harder Than You Think


Succession planning is easy, if you stop after setting the estate value for parents, income needs of the parents, and minimize the taxation.  Successful succession planning takes more. Many people who have a technically ideal sale plan find that success does not automatically follow.… Continue Reading “Successful Succession Is Harder Than You Think”

Build Deep Depth


Have you ever noticed how many dictators die while they are still the dictator? Many violently. Have you wondered why? There are a few obvious reasons. They tend to be paranoid megalomaniacs They tend to have no meaningful retirement plan They tend to have… Continue Reading “Build Deep Depth”

Succession Planning. Are You Ready?


There is a very good article on tax planning for succession in the Financial Post 17 October 2013. Its headline is “All in the Timing” If you are in Canada, and may in the future dispose of your business interests, it is worth the… Continue Reading “Succession Planning. Are You Ready?”

How Much Is Your Business Worth?


Selling your business for top dollar is a nice goal but not so easy to achieve.  There are two problems.  It is hard to know what it is worth, and it is hard to know who might be a buyer at that price.  Here are… Continue Reading “How Much Is Your Business Worth?”

When Should Succession Planning Begin?


There is no definitive answer. For some it begins before children are born. For others it is a last minute thing. For more still, it never happens. Does it matter? Likely. Because, there will be a succession of every business. No one has yet… Continue Reading “When Should Succession Planning Begin?”

Your Primary Succession Plan Is For Emergencies


Everyone puts off business succession planning until it is almost too late. Some wait longer than that. Whether you think your succession plan begins the day your child is born or whether it begins the five years before retirement or whether it, like Henry… Continue Reading “Your Primary Succession Plan Is For Emergencies”

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