Business Planning Succession

Need expert financial reports? Get assistance from Rodriguez Reiffert & Co., a trusted accounting firm. Our specialists prepare detailed statements that provide critical insight into your financial standing. Whether you need an audit, review, or compilation, let our CPAs make your life easier. Call us today at (210) 822-9950 to schedule your free consultation.

If you’re an entrepreneur or business owner, you wear many hats, but your primary job is to generate revenue. When you’re spearheading your company’s growth, you don’t have time to also be its accountant, which is why many business owners outsource these services.   The downside to a less on-hands approach, however, is that you may not always know where you stand financially. Where do you turn?   To get comprehensive and accurate financial statements, you need to partner with an experienced accounting firm. But understand that not all accountants are equally equipped for the job. Your best bet is to team up with a CPA with a proven track record of preparing rock-solid audits, reviews, and compilations. That’s Rodriguez Reiffert & Co., in a nutshell.

Our Succession Planning Services for Businesses

Business succession planning encompasses a wide variety of legal details. Our CPAs offer comprehensive business succession planning services, including the following:

  • Identifying a successor
  • Identifying potential business buyers
  • Planning for the tax implications of a transfer of ownership
  • Making a plan to transfer company ownership to a family member
  • Business valuation
  • Preparing your business for sale
  • Gift tax planning
  • Business restructuring
  • Drafting of buy and sell agreements
  • Tax projections

Why Rodriguez Reiffert & Co.?

Plenty of CPAs say they can handle business succession planning, but whether they will handle it with the care your business deserves remains to be determined. With Rodriguez Reiffert & Co. on your team, you won’t need to ask that question. That’s because we have a proven track record of successful business succession planning. We’ll treat you, your business, and your wishes with the respect necessary to get the job done right. That way, you can focus on your exit plan and a usher in a new chapter for the business you have worked so hard to build.

Your Business Needs a Succession Plan

Although you might have previously thought succession plans revolved around retirement, succession plans are actually meant to prepare for long-term business ownership. They can help reduce the profit loss and inconvenience that comes when a business owner is unable or unwilling to continue in their role.  Your business may be a need of a well thought-out succession plan if:

  • Your business has employees
  • Your business uses a payroll company
  • Your business operations are particularly complex
  • You have someone in mind to take ownership of the company
  • You have ongoing contracts or long-term client relationships
  • You need help choosing a successor

Without a strong succession plan in place, would your business be able to run? Who would step in if you were unable to handle your job responsibilities? Would your business flounder or flop?  You can protect client relationships, your business operations, and the future of your company by implementing a bulletproof business succession plan with help from our firm.

Business Succession Planning Process

Formulating a plan for business operations and ownership when you become disabled, retire, or pass away is critical for the long-term success of your company. Here is a general idea of what you can expect from the business succession planning process if you plan to pass on your business:

  1. Choose your successor. This can be a family member, relative, or another leader who can be mentored into the management role of your company. You have the opportunity to hand-select your successor or choose to outsource leadership.
  2. Train your successor. Identifying successors is only half the battle. Once you have selected your successor, it is time to train them by ensuring they have the information and skills necessary to ensure the future success of your company. This is true whether you are promoting an employee or transferring business ownership to a family member. It will be important to invest in the development of your successor’s leadership abilities and skills as part of your succession planning.
  3. Reduce tax exposure. When your business transfers ownership from one family member to another, you need to be prepared for a wide range of tax considerations, including preparation of income tax, estate tax, gift tax, and generation-skipping tax.

The sooner you get started on your business’ succession plans, the better. Having strong succession plans in place can help your business increase flexibility and prepare for long-term success.

Secure Your Business’ Future with Rodriguez Reiffert & Co.

It is never too early to start planning an effective succession plan for your business. When you are not sure how to best approach your exit strategy and need assistance developing the business succession plans that make the most sense for your company, contact the experienced CPAs at Rodriguez Reiffert & Co., We’re ready to help you write the future of your business. To get started, schedule a free consultation with our team. Give us a call at (210) 822-9950 or contact us online today.

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Contact Us

We are glad that you found us, and look forward to talking with you! To get started, submit a contact form and we will reach out to you within 48 hours.

We’re welcoming new business, and initial consultations are free. Mrs. Rodriguez is available to answer your questions via phone call from 9AM to 6PM CDT, Monday to Friday, and 9AM to 2PM CDT on Saturdays and will respond to emails within 48 hours — Don’t hesitate to reach out.

210-822-9950 prodriguez@cpasat.com Rodriguez Reiffert & Co., P.C.
40 NE Loop 410, Suite 410
San Antonio, Texas 78216

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