Succession Planning and AccountingBookkeeping Firms in Coral Gables, 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 Coral Gables is essential to the survival of a family business from one generation to the next.

A Coral Gables 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 Coral Gables 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 Coral Gables.

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Hear Why Our Clients Love Us

Marlene Taveras

Excellent service! I only had to pay for the service; they took care of everything! Highly recommended!
Rafael De Peña

Excellent
Mindy Reinoso

I had a great experience with Paramount Tax. Their team demonstrated a high level of professionalism and integrity throughout the entire process. They were clear, responsive, and took the time to ensure everything was handled accurately and efficiently. It’s not always easy to find a team you can truly trust with your finances, but Paramount Tax exceeded my expectations. I highly recommend their services to anyone looking for reliable and honest tax professionals.
Cesar Montes

(Translated by Google) Excellent and professional service. They answer questions clearly and take the time to review and explain the declaration in detail. (Original) Excelente servicio y profesional. Responden claramente las dudas y se dedican a revisar y explicar la declaración al detalle.
Abby S

After several years of exceedingly subpar service from our prior tax prep company, we asked friends and business associates for recommendations. Boy are we lucky that someone told us to call Talena at Paramount!! Talena became an expert on our (multi-company/multi-partner/personal) tax situation. Talena listens, analyzes, asks questions, digs deeper. She’s got great analytical and problem-solving skills and seems to have deep tax knowledge. Her customer service is perfection.
Anna Long

I highly recommend paramount Tax! They’ve been doing our taxes since we have been married, almost a decade. They have been very helpful with my house cleaning business as well:)
Sharon Dahlstrom

Jeff is great . He takes time to understand my meager finances and does a wonderful and thorough jub on my taxes
Charlie Ulrich

They are very knowledgeable and helpful on taxes!
Jordynne Burr

We love Paramount Tax and we have been seeing Braden for a few years. He's always very polite and so knowledgeable. Even if we've had any notices or issues he always knows exactly what's happening and puts my mind at ease and has always done our returns super accurate. We refer our friends, family, and business associates to this place. We always feel better knowing these guys are on our side. 10/10 Tax AND accounting services for BOTH our personal and business needs.
Julie Nielsen

I had an absolutely exceptional experience with Paramount Tax! From start to finish, they were professional, knowledgeable, and incredibly thorough. They took the time to answer all of my questions, explain everything clearly, and made what is usually a stressful process feel seamless and easy. What really stood out to me was their attention to detail and commitment to making sure everything was done accurately while maximizing my return. I truly felt like they had my best interests in mind every step of the way. Their team is not only highly skilled but also warm, responsive, and easy to work with. I can’t recommend Paramount Tax highly enough — they’ve earned a lifelong client!
Kyle Hall

Wow, Braden was awesome. My previous tax people were unresponsive most of the time, but Braden always responded very quickly and was super knowledgeable and helpful. Impressive especially during busy tax season. Definitely would recommend.
Austin Thompson

Braden and Jared know their stuff! Thank you!
Charlie

I’ve worked with Paramount for a few years and they do a great job
Shane Little

Braden is the man!! Starting to work with him was one of the best things that happened to our business! I will be telling everyone I know to work with him.
Cole Taylor

Went out of their way to help us with our taxes to get approved for a home!
David Barker

Paramount Tax has been our trusted provider for many years, consistently delivering accurate and reliable services. This year Jon L and Braden T were professional, courteous and efficient, making the process seamless! We highly recommend their services and give them a five-star rating!
Kylee Comstock

Paramount tax is fast, efficient and super reliable! Grateful to have worked with them!
Colin Esplin

I’ve been using Paramount Lehi for years now and always have a phenomenal experience! The level of specialized knowledge and expertise these guys bring to the table is truly amazing. When it comes to my tax preparation each year, I feel totally confident they are going to pull whatever levers can be pulled to give me the most favorable outcome. Honestly can't say enough about the great service they provide.
Nick Smith

I love working with Jeff and the team at Paramount. They are professional, knowledgeable and always great to visit with. I can’t recommend them enough.
landon topham

Darrin was amazing. Great communication, very efficient, explains everything, and does everything the right way. Very satisfied.

Don’t Leave Money Behind

Maximize your deductions and reduce your liabilities. Schedule with Paramount Tax & Accounting Coral Gables 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 & Accounting Coral Gables, 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 Coral Gables. So when you ask yourself, "Where can I find accountingbookkeeping services near me?"... think no further than Paramount Tax & Accounting Coral Gables!

Free Consultation 786-788-7877

Upgrade to Tax & AccountingBookkeeping Firm

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 Coral Gables a call or visit our tax and accountingbookkeeping firm in Coral Gables for a free consultation.

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