Succession Planning

Planning To Pass Your Business on, Let Us Help!

WARNING: Passing Your Business to a Family Member or Associate Can Be a Risky Proposition.

7 out of 10 family owned businesses will not survive the transfer of the business from one generation to another. Lack of planning and discomfort discussing topics such as aging, death, and financial affairs will more often than not result in loss of a business due to estate taxes, family discord, or some combination thereof.

If you want to assure that the business you worked so hard to build will be there to support future generations, you must clarify your plans for succession and finalize, as well as legalize your priorities.

Get professional advice for dealing with these key issues and more…

What will happen to your business? Do you wish to keep it in the family, sell it to a third party or pass it on in some other manner? We can help you weigh the advantages and disadvantages of each of your options, as well as help you determine how the business can best provide for you as you enter your retirement years.

If you are not running the business, who is? Ownership of the business and management of the business are often two distinctly separate entities. How will your retirement or death affect the day-to-day decision making of how the business is run? Will your children take active roles in the running the business, or will they exist as owners only? Clarifying your expectations in legal terms and making these decisions in advance will help ease the transition of ownership, as well as management, without further risk of detriment to the business as a whole.

How can you minimize the tax burden upon transfer? When businesses transfer ownership, taxes are a reality regardless of the relationship between the parties. Review your options with an expert in the field in order to make the decisions that will best support your family members and the business.

Remember that inherited assets, such as family businesses, are often the cause of tremendous emotional strain and stress for individual family members. It is best to address any actions that might be seen as fair or unfair ahead of time, so that family members know what to expect and why you are making the decisions that you are making.

They may not realize, for instance, that the tax implications of inheriting a business might be more burden than they could financially handle or that decisions involving management vs. ownership have been taken into account.

Contact us about our Succession Planning Services to determine the value of your business, before restructuring your business, to review the tax consequences and tax projections of your actions, and to help you plan for retirement.

What Our Clients Think

Dan handles our taxes quickly, professionally, and with great attention. I'm so thankful to be able to trust that it will all be taken care of and done right.
Josh H.
This is our first year having our taxes done by Daniel Henn, CPA PA and it was an awesome experience. Starting with Jay to set up a first time appointment and immediately receiving an email outlining the process and documents to bring to our appointment. We were very pleased with the detailed result and final steps to ensure we filed timely and accurately. This team provides outstanding service. Thank you.
Linda M.
My wife and I (in our 88th year) have been satisfied clients of Dan's for as long as we have made Florida our permanent home. We feel fortunate to have this very knowledgeable and amiable money specialist as our accountant.... and friend.
Joe J.
Dan is not only a great CPA he's an educator too. If you need information about the tax laws give him a call, make an appointment to sit down with him. He also is a published author and speaker.
Jeffery J.
Dan is a great CPA who is very professional and helpful. In addition to tax preparation, Dan sends out a monthly newsletter to his customers with helpful financial tips. About two years ago, I recovered over $250 of missing assets from the state of FL based on an article in his newsletter. I just got a notice that more missing assets are waiting for me and I saved an additional $500 by filing for them myself instead of using an asset recovery firm to help me. Thanks Dan!
Chuck M.
Dan is extremely knowledgeable when is comes to tax preparation. He always stays informed any any and all tax law changes every year and speaks regularly to help educate others.
Daniel M.
Dan Henn and his team have made owning a business so much easier. I used to feel stressed about tax time, but after meeting this team, I know everything has already been accounted for and I can walk in worry free at the end of the tax season. Thank you for all you do for me. I would give 10 stars if they let me.
Nick M.

Ready to Schedule your FREE Strategy Session with Dan?

At Daniel Henn, CPAPA, we believe that your certified public accountant should inspire comfort and confidence that all of your tax related maters are being resolved. If you need help, Dan offers a FREE Strategy Session to personally evaluate your specific tax situation, obtain all relevant information necessary, and recommend the best course of action for your personal scenario.

Our schedule is very full…but if you call us at (321) 684-7200 or email us we’ll give you two options for coming in right away! We will NOT make dealing with a tax professional as painful as it’s been in the past!