by Holly Cloutier | Sep 20, 2021 | Business Exit Planning, Financial Planning
Background: A client came to us concerned about the enormous tax liability they would face in retirement as the bulk of their savings was in tax deferred retirement accounts. They wanted to know if there was a strategy to minimize this tax liability and maximize...
by Holly Cloutier | Sep 17, 2021 | All, Business Exit Planning
Background: The majority owner of a lucrative firm, with approximately 50 employees, is ready to start transitioning out of the business. The ownership is shared amongst four people. The majority owner is in her mid-50s and she owns a 70% stake in the company. The...
by Holly Cloutier | Aug 4, 2021 | Business Exit Planning
Most business owners have dedicated the vast majority of their adult lives to building their businesses—committing years, sacrificing family events, vacations, tee times, and foregoing sleep to follow their passions and achieve their goals. They have succeeded in...
by Holly Cloutier | Jul 9, 2021 | All, Business Exit Planning, Financial Planning
Managing taxes and planning for long-term illness or death are essential parts of financial planning. If you leave behind a 401K account when you pass away, your beneficiaries will be responsible for handling the account. The beneficiary of an inherited 401K might be...
by Holly Cloutier | Jul 7, 2021 | All, Business Exit Planning
There’s been lots of talk (and associated panic) about the Biden administration’s proposed tax hikes as part of the American Families Plan and its projected $1.5 trillion price tag over the next 10 years. First and foremost, the key word here is proposed. None of this...
by Holly Cloutier | Jun 14, 2021 | Business Exit Planning
Often in a family business, especially one that is multi-generational, it is just assumed that the next generation will want to take over the business. This isn’t always the case and may cause trouble down the road. You should make sure that your successors want to...
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