Succession Planning

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


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Succession Planning

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Succession Planning awards

Winner! 2017 Angie's List Super Service Award.

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Paramount Experience

Many people do not know how a professional tax and accounting firm differs from a bookkeeper or tax preparer. The main difference when working with a professional tax and accounting firm, such as Paramount Tax & Accounting, is that our firm utilizes the services of CPAs, EAs, and Attorneys who are distinguished from other finance professionals by stringent qualification and licensing requirements. 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 America. So when you ask yourself, "Where can I find Succession Planning services near me?"... think no further than Paramount Tax & Accounting!

Free Consultation 801-890-4777

Upgrade to Tax & Accounting Firm

Whether you are filing personal taxes or you own a business, if you are not already using a professional tax and accounting firm, you have most likely already missed out on major tax benefits, deductions and credits. This is because a professional tax and accounting firm utilizes licensed professionals such as Certified Public Accountants (CPAs), EAs and Attorneys, 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 a call or visit our tax and accounting firm for a free consultation.

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Annapolis, MD
1997 Annapolis Exchange, Annapolis
Maryland, 21401

410-562-5832

Bountiful, UT
190 N Main St, Bountiful
Utah, 84010

801-683-9734

Bradenton, FL
1201 6th Avenue West,, Bradenton
Florida, 34205

941-213-4532

Campbell, CA
2103 Lincoln Ave, San Jose
California, 95125

408-622-0943

Chandler, AZ
1490 South Price Road, Chandler
Arizona, 85286

480-247-6504

Cottonwood Heights, UT
101 E 7200 S, Midvale
Utah, 84047

385-529-0814

Desert Ridge, AZ
20860 N Tatum Blvd, Phoenix
Arizona, 85050

602-315-3679

Doral, FL
7791 NW 46th St, Doral
Florida, 33166

786-718-1575

Draper, UT
12481 S. Fort St., Draper
Utah, 84020

801-890-4777

Gilbert, AZ (North)
1166 East Warner Road, Gilbert
Arizona, 85296

480-691-2030

Gilbert, AZ (South)
4365 East Pecos Road, Gilbert
Arizona, 85295

480-691-2075

Glendale, AZ
18275 N 59th Ave, Glendale
Arizona, 85308

623-267-4223

Globe, AZ
656 North Broad Street, Globe
Arizona, 85501

928-425-0141

Henderson / Boulder City, NV
170 S. Green Valley Parkway, Henderson
Nevada, 89012

702-757-2080

Herriman, UT
13212 S Woods Park Dr, Herriman
Utah, 84096

385-312-9192

Houston, TX
6575 W Loop S, Bellaire
Texas, 77401

713-489-7448

Katy, TX
24044 Cinco Village Center Blvd., Katy
Texas, 77494

877-335-0661

La Mirada, CA
16700 Valley View Avenue, La Mirada
California, 90638

626-968-8680

Lake Worth, FL
2328 10th Ave N, Lake Worth
Florida, 33461

561-855-0006

Las Vegas, NV (Central)
8170 W Sahara Ave, Las Vegas
Nevada, 89117

702-983-0115

Las Vegas, NV (South)
8275 South Eastern Avenue, Las Vegas
Nevada, 89123

702-389-1733

Las Vegas, NV (West)
8430 W Lake Mead Blvd, Las Vegas
Nevada, 89128

702-343-9257

Lehi, UT
3450 N. Triumph Blvd., Lehi
Utah, 84043

801-753-5767

Moapa Valley, NV
120 N Moapa Valley Blvd, Overton
Nevada, 89040

702-583-4936

Orem, UT
1441 South 550 East, Orem
Utah, 84097

801-893-8535

Plano, TX (West)
7250 Dallas Pkwy, Plano
Texas, 75024

945-400-4846

Provo, UT
180 N University Ave, Provo
Utah, 84601

801-669-9189

Rancho Cucamonga, CA
9267 Haven Ave, Rancho Cucamonga
California, 91730

909-484-3404

Richmond, VA (East)
7300 Hanover Green Drive, Mechanicsville
Virginia, 23111

804-424-0594

Riverside, CA
14604 Ashton Ct, Moreno Valley
California, 92555

951-655-0341

Salt Lake City, UT
136 East South Temple, Salt Lake City
Utah, 84111

801-683-4969

San Marcos, TX
326 N LBJ Dr., San Marcos
Texas, 78666

512-214-2229

Sandy, UT
9295 S 1300 E, Sandy
Utah, 84093

385-501-1904

Saratoga Springs, UT
1305 N Commerce Drive, Saratoga Springs
Utah, 84045

801-683-4967

South Jordan, Riverton UT
10808 S. River Front Parkway , South Jordan
Utah, 84095

801-984-2038

Springville, UT
940 S 2000 W, Springville
Utah, 84663

801-358-0463

St. George, UT
1283 E. Galilee Way, Washington
Utah, 84780

435-565-6700

Stuart, FL
400 SE Flamingo Ave, Stuart
Florida, 34996

772-283-8500

Sugar House, UT
2150 S 1300 E, Salt Lake City
Utah, 84106

385-501-2045

Sugar Land / Richmond, TX (North)
15500 Voss Road, Sugar Land
Texas, 77498

346-291-3378

Sugar Land / Richmond, TX (South)
77 Sugar Creek Center Blvd, Sugar Land
Texas, 77478

832-856-1769‬

Treasure Valley, ID
167 NE Beaman Street, Mountain Home
Idaho, 83647

208-254-7788

West Jordan, UT
8823 S Redwood Road, West Jordan
Utah, 84088

801-899-3350

West Valley, UT
3624 West Bawden Ave, West Valley City
Utah, 84120

385-900-8046

Weston, Pembroke Pines FL
1820 N Corporate Lakes Blvd, Weston
Florida, 33326

954-937-1637

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