In addition, it’s always prudent to create an “insurance policy” for your
company, in case of an event that disrupts your progress, such as disability, illness, family circumstances, or the death of an owner or key employee.
A certified exit planner has the experience to guide you through the steps needed to create the most profitable options. Ron Salmon, founder of Salmon Sims Thomas & Associates, has 35 years of experience providing accounting and consulting services to a variety of clients. Ron is a CPA and Certified Exit Planning Advisor (CEPA), who is uniquely qualified to help you grow the value of your company to keep or transition it. He emphasizes planning for a financially profitable transaction, as well as attaining satisfaction for non-monetary goals.
Here are some of the items we’ll address through succession planning:
- Type and amount of income needed in the present and after you leave the company
- Tax considerations for estate, spouse, or family and how to reduce or defer taxable income
- Succession and management team transition plan
- Business changes needed to maximize profitability
- Growth opportunities and related investment requirements
- Recasting of the financial statement to reflect the true value of the company