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Selling or Exiting Your Business

There is a lot of hard work put into planning and starting a business, as well as keeping it profitable throughout the years. However, many very successful business owners put little or no thought into how they will exit the business when the time comes. This process, like anything else, requires careful thought and planning to ensure a successful transition.

Regardless of the path you choose—leaving your business to your children, or selling to an employee, or a buyer—HMC can help you create and implement an exit plan that will help you maximize returns, minimize tax liability, and avoid errors. The HMC team will help you through every step of the process:

  • Coordinating accountants, financial planners, attorneys, and anyone else involved to ensure all the bases are covered
  • Discussing profitability issues and the add backs to net income available to adjust income, normalizing it for the potential buyer
  • Listing terms with the owner which they believe are acceptable as sales terms and comparing these to the Letter of Intent and contract, as well as working with the attorney to review the contract to determine if the terms will work for tax purposes
  • Preparing the books for the transaction
  • Providing the buyer with historical financial records, including both financial statements and tax returns for comparison

In addition, if you become disabled or die before you retire, exit planning will help the business survive—enabling you and/or your family to receive its full value.

Understanding
tax terms can
make tax
preparation
less stressful.

Go to our Tax Resources page and review the tax term glossary
view tax term glossary >

TAX PLANNING GUIDE
Our Tax Planning Guide is an up-to-date reference on the latest business and individual tax developments.

Download the PDF >