Should You Convert? … to a Roth IRA, that is

Posted by on Sep 2, 2016 in Business Owners, Estate and Trust Planning, Goal Achievement, Goals, Income Tax Planning, Investments, Retirement | 0 comments

“To convert, or not to convert. That is the question.” OK, Shakespeare I’m not. But, I have had the question posed to me many times over the years, and sometimes I suggest it even though it wasn’t on a client’s radar. There are a lot of factors that go into this complex decision, and you need to be aware of what they are. I’ve compiled the pros and cons below from my experience with hundreds of planning cases over the years. You’ll probably choose one more of the yes and no reasons, so the decision is going to have to be based on which aspects are...

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The Retirement Transition

Posted by on Aug 31, 2016 in Business Owners, Goals, Investments, Retirement | 0 comments

JOIN THE CLUB – Approximately 10,000 people in the U.S. turn 65 every day, so covering the planning for those retirement years is a major issue in this country. Unfortunately, there are many people who get laid off or become disabled before they choose to retire. Others retire without a direction for the next phase of their lives, and business owners wait too long to plan for the sale of their business. WHAT’S NEXT? Walking the dog, seeing the doctor once in a while, and going to the store are nice activities, but that will become boring really quickly. Here are some ideas...

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The Value of a Closely Held Business

Posted by on Feb 5, 2016 in Business Owners, Estate and Trust Planning, Goal Achievement, Goals, Retirement | 0 comments

Those who run their own businesses have known all along that the best investment they can make is in their businesses. The question is whether they or their family would get a fair return for that investment when it comes time to sell the business or if a “Heaven forbid” occurs. You’d want the value low for estate and gift tax purposes, but high for a sale. Which one should a business owner use? Do you need a certified appraisal, or will a market appraisal serve your purpose?   A Proper Valuation In most cases, there is no open market to determine the value. A proper valuation can...

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