What is Business Planning?
Business planning involves the formation of business entities, such as corporations, partnerships and LLCs, and well as the periodic work (e.g. yearly meetings) to keep good legal records to maintain these entities. It also refers to the implementation of succession planning, so that business owners have a method of transferring ownership and / or control of the business at retirement, incapacity and death.
The formation of a business, such as setting up a formal business entity like a corporation, partnership or LLC, involves both legal and tax issues. As such, for this work it is important to have both an attorney and CPA involved in the decision-making process. Likewise, yearly meetings generally involve these same advisors so that all aspects of the business can be addressed on a regular basis.
Business succession planning, which often involves buy-sell agreements, looks to the time an owner wishes to retire or is otherwise unable to continue to be involved in the business, usually due to death or incapacity. This planning works in conjunction with estate planning.
How We Can Help
We handle all types of business formations, and assist clients maintain yearly books for their companies. We also handle the coordination of a comprehensive business succession strategy with a client’s estate plan.
Please contact us for further information. |
