Succession Planning

Paramount 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 is essential to the survival of a family business from one generation to the next.

We 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 if you'd like us to help you pass on what's taken a lifetime to build.

Call 801-341-2300 today!


Over the years my tax returns became more complicated and I needed a CPA I could trust to guide me through the process. Roy is a great partner and has made filing my taxes as simple and stress free as possible. His assistant Ariel is very helpful as well. I highly recommend Paramount Tax and Accounting.
— Jennifer McKelvey
Posted November 7th 2018
Google Local
Paramount was fast, reliable, affordable, and I got a refund when I thought I would owe!
— Randy A.
Posted September 22nd 2018
Yahoo! Local
— Lexi Holland
Posted August 25th 2018
Google Local
I had a number of tax questions, and Paramount was able to validate my plans, and also suggest some additional and unique strategies, providing me with additional resources to minimize my tax liability.
— Ron Schroeder
Posted August 25th 2018
Google Local
Showing 4 of 69 reviews (Average rating of total: 5 stars!)


Succession Planning awards
Succession Planning endorsed

Because we’re CPAs and they're not™

Many people do not know how a CPA differs from a bookkeeper or tax preparer. The CPA designation is one of the most widely recognized and highly trusted professional designations in the business world. CPAs are distinguished from other finance professionals by stringent qualification and licensing requirements. Paramount CPAs have worked hard to obtain their CPA designation, and are committed to working even harder to deliver the value that that designation conveys. In fact, our goal is to be the No. 1 Succession Planning firm across the United States. So when you ask yourself, "Where can I find Succession Planning services near me?"... think no further than Paramount

Free Consultation 801-341-2300

When to upgrade from tax preparer to CPA?

Whether you are filing personal taxes or you own a business, if you are not already using a CPA, you have most likely already missed out on major tax benefits, deductions and credits. This is because Certified Public Accountants (CPAs), such as Paramount, are advisers to not only individuals on personal financial matters but are also licensed to advise businesses, financial institutions, nonprofit organizations and government agencies on a wide range of financial topics. This strict status and licensure ensures that only CPAs are legally qualified to understand complicated tax laws and how to to implement strategies that return the most benefits to individuals and businesses. Give Paramount a call or visit our CPA firm for a free consultation.

Individual Tax Preparation Business Tax Preparation

Find a location near you...

Paramount Tax & Accounting of Bountiful

Bountiful, UT

Call: 801-214-4510
Email   Website

Paramount Tax & Accounting of Chandler

Chandler, AZ

Call: 480-247-6504
Email   Website

Paramount Tax & Accounting - Cincinnati East

Cincinnati, OH

Call: 513-247-0999
Email   Website

Paramount Tax & Accounting - Cottonwood Heights

Cottonwood Heights

Call: 385-529-0814
Email   Website

Paramount Tax & Accounting, CPAs of Draper

Draper, UT

Call: 801-890-4777
Email   Website

Paramount Tax & Accounting CPAs-Vegas Strip

Las Vegas, NV

Call: 702-983-0115
Email   Website

Paramount Tax & Accounting of Lehi

Lehi, UT

Call: 801-890-4777
Email   Website

Paramount Tax & Accounting, CPAs of South Jordan

South Jordan, UT

Call: 385-645-5851
Email   Website


Paramount Tax is now offering financial and tax franchises across the US!

cpa accounting franchise

Let us make our success into your success!

Franchise Information Call: 801-341-2300