When you run a business, you're tied to it both financially and personally. The financial side is obvious: Your company's success or failure ultimately rides on your shoulders, affecting not just your personal livelihood but that of your employees. The emotional aspect of being a CEO is something that's not discussed very much. When you devote yourself to your company's success over a period of years, working long hours and thinking about it even in your downtime, it affects how you view yourself.
Estate taxes often come up when talking with business owners and other clients as they think about retirement and leaving the business. The sale of the business translates the owners’ biggest asset into cash. The dollars can be considerable and it follows that the taxes on the sale, and ultimately their estate, can likewise be substantial. Concerns about taxes are valid.
The instability of the healthcare market and anticipated reimbursement changes under TrumpCare have created some challenging questions for specialty practice physicians who are planning for retirement. First, the good news is that physicians will continue to be interested in acquiring other practices. But the bad news is that most physicians have only a vague idea of what their practice is worth. Learn the 9 ways that buyers use to evaluate your practice.
The great irony is that planning for business exit is, understood correctly, much the same as planning for business growth. The purpose of a successful business exit strategy is to maximize the value of an asset (your company) so that you can gain the highest possible valuation for that asset and end with enough funds to either retire or start another business.