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

A San Marcos 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 San Marcos 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 San Marcos.

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Contact Paramount Tax & Bookkeeping San Marcos

Easy Online Booking

Get started with Paramount for your tax services in San Marcos, TX, recommended by family and friends every time.

OR

Request Appointment

Contact Paramount Tax & Bookkeeping San Marcos
Request Appointment
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David was incredible. He guided us to what was needed and responded when asked questions. One of the best I have ever worked with for taxes
— Pam Pepper, Posted October 11th 2024 on google
David helped me file an amendment after an error was discovered from past returns. He handled all my questions and helped me understand the process. He was kind, available, professional, and resourceful. I would highly recommend working with David at Paramount Tax!
— Tanya, Posted October 9th 2024 on google
I had a less than ideal situation with a missing w2. Within a very short time we tracked it down and were ready to file. Great service and professional. Thank you David!
— malcolm mccoy, Posted March 30th 2024 on google
Well knowledgeable and educated and experienced made easy for me to understand my situation
— Nick Dom, Posted September 12th 2023 on google
I came to Dave needing advice on how to tackle a unique tax issue and he was so easy to talk with. He spent time reviewing our situation and gave me lots of good ideas on how to reduce our current tax liability along with great advice on how to plan for the future for our business. Highly recommend!
— Heather Lundwall, Posted July 17th 2023 on google
David Anderson provides excellent customer service! He is knowledgeable in his work and is detail-oriented. Any questions you may have he will answer them and ease any confusion or worries. Paramount Tax & Bookkeeping is great. We recommend them for your finances!
— Community Manager, Posted June 22nd 2023 on google
I have known David for a number of years. After serving on a committee with David, I found him to be a thoughtful and clear-thinking communicator and decision-maker. I would trust him to do excellent work.
— Diana Elkins, Posted March 5th 2023 on google
I have used different tax preparers over the years, from individuals to large companies. David has been the easiest and best to work with by far. He has my business from now until the day I pass away!
— David Muth, Posted February 22nd 2023 on google
David is very knowledgeable, honest and goes the extra mile to provide great service and will answer all your questions. Highly recommended
— Irene Castro, Posted February 21st 2023 on google
I have known David for quite a few years. He’s a brilliant mind and a great person. Absolutely recommend him and his business!
— Ryan Pethick, Posted February 10th 2023 on google
I've worked with David for many years on some pretty large projects. He is very professional and detail oriented, which is important when it comes to financial services. He was always very helpful and always responsive. Overall a pleasure to work with and I would recommend him!
— Jason Diamond, Posted February 8th 2023 on google
David was really quick and such a nice guy. Highly recommend
— FASTSIGNS 2337, Posted February 8th 2023 on google
Great service! They took the time to answer questions and to understand my situation. Over all, the best experience with a tax & bookkeeping service.
— Daniel Mendez, Posted February 4th 2023 on google
The staff here is incredibly friendly! They are honest and trustworthy which makes a world of difference. Highly recommend!
— Caitlyn Hermesch, Posted February 4th 2023 on google
They did my taxes and did a great job. I would highly recommend them .
— Andre Lopez, Posted February 1st 2023 on google
Paramount did the taxes for my start-up business as well as helped me set up the financials for the business. When I had questions, they were there to help me every time. I trusted them with my personal taxes as well. They were very helpful and informative. I will not consider going anywhere else.
— Adrian Tenorio, Posted February 1st 2023 on google
David is honest, professional and great to work with. He is very detail-oriented and his expertise is evident in the services provided. Highly recommend David and Paramount Tax Booking!
— Yvette Nunez, Posted January 30th 2023 on google
David has the upmost professionalism and reliability when it comes to his business! With more than 30 years experience in the accounting industry, I wouldn’t trust anyone else to handle my tax/ accounting needs. David is your guy for all things accounting!
— Melissa Smith, Posted January 29th 2023 on google
I have known David Andersen and worked with him for 25+ years. His knowledge and expertise related to all things finance are impressive! What I most admire about David is his patience and ability to explain and clarify every detail in a manner that makes sense.
— Jodie Wymore, Posted January 29th 2023 on google
I’ve known David for many years. He has many years of experience and a person you can trust. I will definitely continue going to him for our taxes. Highly recommend him.
— alice garcia, Posted January 29th 2023 on google
San Marcos, TX Tax Review

Free 3-Year Tax Review

We review 3 years back to find errors / missed deductions.

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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 San Marcos, 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 San Marcos. So when you ask yourself, "Where can I find accountingbookkeeping services near me?"... think no further than Paramount Tax & Bookkeeping San Marcos!

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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 San Marcos a call or visit our tax and accountingbookkeeping firm in San Marcos for a free consultation.

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