If you are a business owner and want to transfer your ownership to a family member or external party, there are several options available to you. The best option, as always, will depend on your own circumstances and goals. On today’s blog, however, we review the basics of the most…
When it comes to estate planning, business owners have a special set of needs to consider. Today, we cover some factors you might need to think through if you are a business owner drafting your estate plan. Of course, the specifics depend on the kind, size, and nature of your…
If you are a business owner, there is no doubt you have thought about what might happen to your business once you are gone. At McCulloch & Miller, we specialize in planning for the future, and business succession is no different. Today’s blog covers some basics that could help you…
For many business owners, the future of your business and life’s work is at the forefront of your mind. Business succession planning should also be at the forefront of your estate planning. Beyond the complexities of regular estate planning, business succession planning must carefully consider unique tax implications and asset…
McCulloch & Miller, PLLC is thrilled to officially announce that we are a part of the UpCity community of top B2B service providers! At McCulloch & Miller, we help guide small business owners and investors through planning strategies such as asset protection, tax consequences, and viable retirement planning. Every investor…
For individuals who own a company, passing the business to another individual may not be at the forefront of their mind; but it should be. Succession planning involves creating a plan for another individual to either own or run the business after the person retires, becomes disabled, or dies. This…
There are few challenges as rewarding as running a successful business. Business owners pour years of hard work into pursuing passions that are about more than just making money. So it makes sense that many business owners prefer to have a say in what happens to their business after they…
“Running and owning a business is just like raising a child: Both are investments in the future, and both require a lot of time, resources and effort to raise successfully. One can argue that you would treat your business like you'd treat a child; you'd want it to succeed even…
It takes time to build a business, and it can take just as long to create a strong succession plan. Many business owners can’t imagine a life without the business they built, so they often postpone planning for their own retirement and the sale or transfer of the business. That…