Special Financial Considerations for Husband & Wife Family Businesses
The Wall Street Journal reported that one-third of all family businesses are operated by husband and wife teams, representing a substantial number of all businesses. READ MORE
How to Build Value in Your Family Business
Of course family business owners want their firm to be valuable – to their family, their clients, and the community. The possibility of selling the business typically forces the owner’s hand in pinpointing its value, but it makes sense to think about this now and periodically thereafter no matter what direction your family business is headed. What specifically does the business value consist of, how is it identified, and how can value be increased? READ MORE
Five Common Causes of Family Business Feuding and How to Avoid Them
It would be unrealistic to expect all family members to agree on all actions of the family business or of each other, but it is within reason to learn how to keep family disputes to a minimum and avoid planting some of those landmines in the first place. READ MORE
Financial Considerations for Family Businesses with Aging Ownership
Money in family matters can sometimes be a difficult subject, especially where aging and death may be part of the dialogue. But with the emphasis on business, financial matters can and should be discussed – the sooner the better. Following are different aspects of financial planning related to aging ownership in a family business. READ MORE
Understanding Estate Tax: What It is and What Your Family Business Needs to Know
Estate taxes are levied on the fair market value of an estate passed to heirs upon the death of its owner. As they pertain to a business, ownership (title) of a family business is an asset of the estate and is included in the overall estate on which tax may be due. Following are some aspects of estate tax planning that you should know in order to protect your family business and your family’s interests before it is too late. READ MORE
