The COVID-19 pandemic has put unprecedented stress on private business owners. Some are now considering selling their businesses before Congress has a chance to increase the rates on long-term capital gains. Before putting your business on the market, it’s important to prepare it for sale. Here are six steps to consider. 1. Clean Up the Financials…
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Your Children and Estate Planning
If you have a sizable estate that you’ll be leaving to your adult children, then your children probably need an estate plan of their own. To encourage them to plan their estates, consider these quick tips: Explain why estate planning is important. You don’t want to dictate what they should do with their estate, just emphasize the…
One Option to Finance a Business Sale
Structured settlements are commonly associated with the payment of personal injury damages because of their advantageous tax-free treatment, but some business purchases and buyouts can also benefit from structured settlements using annuity payments from an insurance company. A structured settlement is an agreement made to settle a monetary claim or lawsuit. It provides for a series…