Succession Planning and AccountingBookkeeping Firms in Bradenton / Sarasota, FL
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 Bradenton / Sarasota is essential to the survival of a family business from one generation to the next.
A Bradenton / Sarasota 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 & Accounting in Bradenton Metro 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 Bradenton / Sarasota.
Adam was another great resource of Paramount Tax & Accounting! The expertise here is absolutely amazing these guys are always a huge help and a wealth of knowledge in the Tax System!! We are so great full for all of their help!!
— Taco Sauce Adventures (The Traveling Couches),
Posted April 1st 2024 on google
Paramount Tax has been a life saver for me and my family. They have taken the time to help us understand our tax needs.
— Jim McCallson,
Posted February 17th 2023 on google
I've known Adam for a years and when I heard he was opening his own tax office, I was ecstatic! He is so friendly and smart! I've talked with him about tax preparation and he gave me some great tax savings advice! Go see Adam in his new office in Annandale!
I’ve known Adam for a number of years. I’ve always found him to be both a hard worker but also very conscientious of others and their needs. Would highly recommend.
Wow, Adam and team are so great and we loved working with the team at Paramount Tax on this year's tax planning. My personal tax returns seemed to have way less liability than last year and now I have my business also porting over to them for more accounting assistance!
— Amber Christiansen,
Posted February 8th 2023 on google
I had a fantastic experience at Paramount Tax & Accounting in Annandale. Keep up the good work!
— Marcus Taylor,
Posted February 8th 2023 on google
Adam is highly intelligent, efficient, great to work with and such a wonderful person to boot! Highly recommended!
— Jordan Miera,
Posted February 8th 2023 on google
I love Paramount Tax and Accounting - everyone there has been great to work with.
— Troy Thompson,
Posted February 8th 2023 on google
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 & Accounting in Bradenton Metro, is that we know taxes!
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 Succession Planning firm in Bradenton / Sarasota. So when you ask yourself, "Where can I find accountingbookkeeping services near me?"... think no further than Paramount Tax & Accounting in Bradenton Metro!
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 & Accounting in Bradenton Metro a call or visit our
tax and accountingbookkeeping firm in Bradenton / Sarasota
for a free consultation.
Why Choose Paramount Tax & Accounting in Bradenton Metro?
Through dedication to the three underlying principles of professionalism, responsivenessandquality, Paramount is committed to providing outstanding service to our clients.
Paramount Tax is now offering financial and tax franchises across the US!
In the unlikely event you receive a tax notice, we have an entire audit defense department ready and available to help. We partner with Protection Plus $1 Million Tax Audit Defense so that we can work towards a favorable resolution in every situation our clients might face.
