Planning a successful business transition takes strategy and execution. Now that you know why succession planning matters from Part 1, it’s time to focus on how. With a clear roadmap, the process can feel manageable.
(more…)Author: Chelsey Frate
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Why Business Succession Planning Matters
After years of hard work building your business, the last thing you want is uncertainty when you step away. Yet, many business owners face this due to a lack of succession planning.
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The Impending Tax Sunset
In Part 1 of this series, we reviewed the key provisions of the 2017 Tax Cuts and Jobs Act (TCJA) and examined their potential impact on American families if these provisions expire or “sunset” at the end of 2025. Whether Congress decides to extend some or all these provisions or allows them to sunset as scheduled, understanding the possible scenarios and preparing accordingly is essential.
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The Impending Tax Sunset
The Tax Cuts and Jobs Act (TCJA) of 2017 introduced numerous benefits to U.S. tax law but are set to expire at the end of 2025. Families might be surprised by potential increases in estate tax liability and other substantial tax changes. To navigate this landscape effectively, it’s essential to understand these provisions and their looming expiration.
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Preserving Wealth Across Generations with Tax Loss Harvesting
Tax loss harvesting is a powerful strategy that, while commonly associated with annual tax planning, can also play a crucial role in long-term estate planning for California residents. It involves strategically selling investments at a loss to offset capital gains taxes, thereby preserving more wealth for future generations.
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Estate & Tax Planning in California: The Basics
Estate and tax planning are crucial items to complete as part of a family’s financial plan. It is a topic that crosses everyone’s mind but gets pushed to the bottom of the to-do list. It can be complex, confusing, and time-consuming, but the benefits that it can provide to your family and the generations to come are invaluable.
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Concentrated Stock Position: A Double-Edged Sword
In an investment landscape where prudence dictates diversification, having a concentrated stock position can appear as a double-edged sword. On one side, they offer the potential for substantial gains, while on the other, having a single equity position as a major source of overall net worth may also cause a great deal of stress and concern.
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