Succession Planning and AccountingBookkeeping Firms in Las Vegas, NV
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 Las Vegas is essential to the survival of a family business from one generation to the next.
A Las Vegas 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 Las Vegas 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 Las Vegas.
My first meeting with John was to fix the mistakes in my S/S taxes that my last accountant made, I have been coming here since.
John has given me the personalized help that I need for my personal and business taxes that I have not gotten before. It has been a pleasure working with John.
I’m big on reviews and when I read about paramount taxes thought I give John a go. It was sensitive talk for me considering I was filing taxes for my father who past away. John was very understanding, patient and helped guide me through this process. Thank you John for services I’ll be coming back to you next year.
Jon was so helpful and patient. I came in there completely lost and left feeling so much clarity on my taxes for not just previous years but also how to handle them better for years to come. I tried filing my own small business taxes on TurboTax last year and completely messed everything up, but Jon helped me clean up ...
John is fantastic! I highly recommend him. He's efficient and precise. He answered all of my questions extremely well in a way I could understand. Taxes are usually such a hassle and a dread, but I have walked out of that office feeling relieved again.
Excellent service. They are Knowledgeable, professional and caring! I mean it’s nice to see your accountants spend hours working on your taxes to save you money. Highly recommended
John Williams has been great for me since joining him at Paramount Tax. He answered and addressed all my concerns and got me set up with a team that is assisting me for all my business needs reducing my stress for all accounting and tax issues that I had with my previous company. He's knowledgeable and easy to work wit...
I filed (late) my taxes with John and he was very patient and accommodating to my busy schedule. The process was easy and all communication was done through phone, text and email. Would definitely recommend him if you need your taxes done.
— Tiffany Ramirez,
Posted September 2nd 2023 on google
Awesome experience with John, explained everything in detail. Nothing was ever an issue for him to handle. John has always been welcoming and willing to help. Living out of state John was able to handle the process I needed remotely. Thank you!
John is just Outstanding!! He goes way out of his way doesn't matter how late to get the job done! He saved me much money and helped us find it other areas to gain back in taxes... Is extremely good, has become a great friend and I am glad to refer everybody that I can to him. I only wish I knew him over the last 10 ye...
My husband and I have been clients of Paramoumt for the past eight yrears. Unfortunately, MULTIPLE negative experiences with our "then" tax firm, from our preparer quitting and the next two dying, with no notification or taking over of our return by any one, at a firm where multiple tax professionals were employed, apt...
— Kimisha Crisp-Brain,
Posted June 7th 2023 on google
I feel very fortunate to have found Paramount Tax to prepare my taxes this year. I have worked with other companies in the past, but the level of service I received from John excelled far beyond the others. He was patient, diligent, and very transparent. No fancy bells, or whistles - just an easy going guy who works ha...
— Jennifer Comfort,
Posted June 6th 2023 on google
Got an appointment right away and John Williams took the time to speak with me over the weekend for a long period of time so I went in prepared with no surprises. And I had to bring my 15 month old Thanks !!
I highly recommend John at Paramount Tax. He is a Tax expert that will guide you every step of the way. He is professional and exceeded my expectations.
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 Las Vegas, 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 Las Vegas. So when you ask yourself, "Where can I find accountingbookkeeping services near me?"... think no further than Paramount Tax & Accounting in Las Vegas!
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 Las Vegas a call or visit our
tax and accountingbookkeeping firm in Las Vegas
for a free consultation.
Why Choose Paramount Tax & Accounting in Las Vegas?
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.
