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Succession Planning

There are 3 parties to every succession transaction: the seller, the buyer and the taxman. We want to advise you how to maximize the monies received by you and minimize the monies sent to the taxman.

Few business owners have a planned exit strategy. We assist by ensuring that the most efficient tax strategy is used and that issues required to satisfy the buyers needs are met. We work together with professional business brokers to ensure you get the most from the sale of your business.

Steps to a successful sale:

  • Plan ahead (at a minimum, you can begin your preparation 2 years prior to selling).
  • Develop an exit strategy, identify your best potential buyer.
  • Determine the type of sale, share, or asset.
  • Utilize the services of a qualified business broker.
  • Have a valuation prepared.
  • Ensure confidentiality is maintained.

Advantages of succession planning:

  • Minimize taxes on sale
  • Maximize the sales price
  • Sell when YOU are ready and on your terms

Frequently Asked Questions

Most people will choose to utilize the services of a qualified business broker, such as Kelowna Accountants. This minimizes the related stress on a business owner and provides free time to the business owner to handle all of the strategic planning and running of their business.

At Kelowna Accountants, we believe in 6 steps to a successful sale. These all all designed to minimize the taxes on a sale, maximize the sale price and ensure you sell when you are ready, on your terms. Visit our succession planning page for more information

Succession planning is the strategic planning put in place by a business owner, when deciding to sell their business. Few business owners have a planned exit strategy, so we assist by ensuring that the most efficient tax strategy is used and that issues required to satisfy the buyers needs are met. We ultimately ensure you get the most from the sale of your business. Visit our succession planning page for more information.