Each business is unique and usually undergoes several stages, including start-up, growth, maturation, and finally succession. For family business, there are various tax and non-tax factors that can affect the longevity and profitability of the business.
A well-managed business typically involves having several professionals giving advice as to accounting, tax, legal, personnel and financial issues, all as part of an integrated team. We assist family businesses in periodically reviewing these various issues in order to allow owners to ascertain whether their business structure is appropriate for meeting established goals and objectives. This can involve changes to the entity structure, creating multiple ownership classes, and drafting agreements to retain key personnel for years to come.