Succession Planning and AccountingBookkeeping Firms in Addison / Dallas, TX

Succession Planning Services

If you own a family business, retirement isn't simply a matter of deciding not to go into the office anymore. You've got some critical questions to answer like...

"What happens to the business when you're no longer running it?"
"Will you have enough money to retire?"

The family dynamic complicates the whole transition because of the relationships and emotions involved. Most people are not comfortable discussing topics such as aging, death, and financial affairs.

Comfortable or not, succession planning should be a priority for any family business considering that more than seven out of ten family-owned businesses fail to survive the transition from founder to second generation, typically falling prey either to estate taxes or family discord - or both.

Developing and implementing a well-designed succession plan with a Addison / Dallas is essential to the survival of a family business from one generation to the next.

A Addison / Dallas tax accountant can help you with these key issues -

Keeping it in the family. Are you going to pass the business on to your family or sell it to a third party? We help you weigh the advantages and disadvantages of each of these options.
Who's going to run the business when you're gone? Management and ownership are not one and the same. You may decide to transfer management of your business to just one of your children but transfer equal shares of business ownership to all your children, whether they're actively involved in the business or not.
Minimizing the tax bite. The tax burden when transitioning a family business can be significant. The challenge is that a family business is not generally a liquid asset, but taxes are typically due when ownership is transferred.
Making it fair. Transferring family ownership often adds a tremendous amount of stress to individual family members. We talk with each of the family members to ensure that they feel they a getting an equitable and fair share of the pie.

What we do for you...

Once we understand how you feel about the key issues above, we begin constructing your succession plan focusing on these 5 issues...
Business Valuation
Business Restructuring
Tax Consequences
Retirement Projections
Tax Projections

Contact Paramount Tax & Bookkeeping Addison if you'd like us to help you pass on what's taken a lifetime to build. We offer free consultations on all of our financial planning and tax services in Addison / Dallas.

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945-267-5355

Hear Why Our Clients Love Us

Thanh Vũ Lê

(Translated by Google) Thank you Paramount Tax and Bookkeeping for your charitable work for the elderly and children in Vietnam. (Original) Cảm ơn Paramount tax and bookkeeping đã làm thiện nguyện cho người già và trẻ em ở Việt Nam
Lien Truong Bich

(Translated by Google) Thank you Paramount Tax and Bookkeeping for your excellent charitable work for the elderly and children in Vietnam. (Original) Cảm ơn Paramount tax and bookkeeping đã làm rất tốt công tác từ thiện cho người già và trẻ em ở Việt Nam
Tuyến Võ Kim

(Translated by Google) Thank you to the company for your charitable work in Vietnam. (Original) Cám ơn công ty đã làm thiện nguyện ở Việt Nam
Dung Nguyen Tan

(Translated by Google) Thank you to Prime Tax and Bookkeeping for your charitable work in helping the elderly, the needy, and the disabled in Vietnam. (Original) Cảm ơn công ty paramount tax and bookkeeping đã làm thiện nguyện giúp đỡ người già và người khó khăn, tàn tật ở Việt Nam
hongkhanh nguyen

(Translated by Google) Thank you to Prime Tax & Bookkeeping for your charitable work in Vietnam. (Original) Cảm ơn công ty paramount tax &bookkeeping đã làm thiện nguyện ở Việt Nam
Kieu dung Pham thi

(Translated by Google) Thank you to Paramount Tax and Bookkeeping for your charitable work in Vietnam. (Original) Cảm ơn công ty Paramount tax and Bookkeeping đã làm thiện nguyện ở Việt Nam
Thọ Lê

(Translated by Google) Thank you to the company for your charitable work for the elderly and children in Vietnam. (Original) Cảm ơn công ty vì đã làm từ thiện cho người già và trẻ em ở Việt Nam
Hồng Nguyên

(Translated by Google) Thank you to the company for your charitable work for the elderly and children in Vietnam. (Original) Cảm ơn cty vì đã làm từ thiện cho ng già và trẻ e ở Việt Nam
Tish Colon

I had an excellent experience with their services. The staff explained deductions clearly to help me be return. Highly recommend for someone who wants to be stress-free.
Ethan Pham

High recommed
Dung Tran

(Translated by Google) Thank you to the company for helping the priests and nuns. (Original) Cảm ơn công ty giúp đỡ cho các Cha và các Sơ
Năm Võ Thị

(Translated by Google) The company does good charitable work. (Original) Công ty làm thiện nguyện tốt
Mai Huynh

If you want a partner who genuinely cares about optimizing your financial picture, this is the team to trust. Their professionalism, attention to detail, and strategic mindset make them stand out in a crowded field. I feel more confident about my finances than ever.
Angel Rosas

They are fast, reliable, and easy to work with. I recommend their services 100%!
Nghia Truong

(Translated by Google) Thank you to the Paramount Group for coming to Vietnam to volunteer. (Original) Cám ơn Nhóm Paramount đã về làm thiện nguyện ở Viêtnam
SKN Cultural Services

Reasonable price, very professional and trustworthy.
Tuyet Mai

Excellent service and very professional team!
Ziep Nguyen

Great work ! Very professional - get the job well done.
Vu Le

They explained everything clearly and simply, Fast, reliable and easy to work ưith
melissa

Amazing service. You can tell they truly care about their clients.

Don’t Leave Money Behind

Maximize your deductions and reduce your liabilities. Schedule with Paramount Tax & Bookkeeping Addison today

Paramount Experience

Many people do not know how a professional tax firm differs from a tax preparer. The main difference when working with a professional tax and accountingbookkeeping firm, such as Paramount Tax & Bookkeeping Addison, is that our firm utilizes the services of licensed professionals.

Paramount has worked hard to create relationships to deliver the value that our clients expect. In fact, our goal is to be the No. 1 firm in Addison / Dallas. So when you ask yourself, "Where can I find accountingbookkeeping services near me?"... think no further than Paramount Tax & Bookkeeping Addison!

Free Consultation 945-267-5355

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Whether you are filing personal taxes or you own a business, if you are not already using a professional tax and accountingbookkeeping firm, you have most likely already missed out on major tax benefits, deductions and credits. This is because a professional tax and accountingbookkeeping firm utilizes licensed professionals, who can not only advise individuals on personal financial matters but who are qualified to advise businesses, financial institutions, nonprofit organizations and government agencies on a wide range of financial topics. Our strict standards ensure that we understand the complicated tax laws and how to implement strategies that return the most benefits to individuals and businesses. Give Paramount Tax & Bookkeeping Addison a call or visit our tax and accountingbookkeeping firm in Addison / Dallas for a free consultation.

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