Start Succession Planning Now

The majority of North American businesses are family owned and many are facing ownership-transfer issues as the baby-boomer founders enter retirement. On the eve of a retirement, or following a death, family-run businesses have four basic choices. The first two...

Charitable Contributions Must Pass Strict Documentation Rules

Under the tax code, no deduction can be claimed on your tax return for any contribution to a charitable organization of $250 or more unless the taxpayer substantiates the contribution with a contemporaneous written acknowledgment of the contribution by the donee...

Business owners: Put your successor in a position to succeed

When it comes time to transition your role as business owner to someone else, you’ll face many changes. One of them is becoming a mentor. As such, you’ll have to communicate clearly, show some patience and have a clear conception of what you want to accomplish before...