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  • Even if You Never Plan to Leave Your Business Succession Planning Can Help

    By MarksNelson on September 7, 2018
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    You may be asking yourself, “If I don’t plan on leaving my business, why would I need Succession Planning?” Many business owners ask us that very same question. There are three key ways in which Succession Planning can help you and your business, even if you never plan to leave it.
  • New Synergies: A Q&A with Mark Radetic and Scott Carson of MarksNelson

    By MarksNelson on August 20, 2018
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    Are you bold? A brave explorer of the unknown? The deep blue ocean – also known as the Earth’s Last Frontier – is much like today’s ever-evolving world of business. Hidden beneath its waves are opportunities as bountiful as treasure troves, waiting for those courageous enough to dive in to discover their wealth. Recognizing the expansive and innovative opportunities through partnership, the leaders at MarkNelson LLC, a public accounting firm, and Blue Ocean Consulting, a technology company, joined forces earlier this year. In this Ignite blog feature, the Kansas Society of CPAs had the distinct honor of gaining insight into how these voyagers submerged themselves into the merger of both professional service companies; and how by offering new business advisory services to existing and new clients, they’re sailing the seas rich with opportunity and spotlighting their organization’s future-ready success.
  • Transition Rules on Historic Tax Credit Projects

    By MarksNelson on August 13, 2018
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    Recent federal tax legislation changed the rules in several ways for buildings using historic tax credits to finance improvements. 
  • Three Benefits of a Written Succession Plan

    By MarksNelson on August 8, 2018
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    Planning a business exit can seem like a lot of work at first. From building business value to developing capable successors to figuring out exactly what you want to do with your life after you leave, Succession Planning might look like too much work for one person to do. In our experience, Succession Planning isn’t something that business owners can tackle alone if they want to exit on their terms. But with so much to do, where can you start?
  • Balancing Your Succession Planning Goals in Family Transfers

    By MarksNelson on June 27, 2018
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    If you’re considering transferring your business ownership to family, you might be tempted to put your family’s wants over your own goals. While this altruism may be admirable, it can also cause more problems than it solves.
  • The One Date You Need to Make Sure is on Your Calendar

    By MarksNelson on June 4, 2018
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    According to surveys, up to 79% of business owners plan to exit their businesses within the next ten years, with more than half saying they want to exit within the next five years. However, many business owners fall into the trap of the “rolling five-year Exit Plan,” in which owners constantly reset their exit dates for five years later. This often prevents them from taking tangible steps to accomplish their exit goals.
  • How Emotion Affects Your Exit Plan

    By MarksNelson on May 4, 2018
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    Generally, business owners feel comfortable being owners. They enjoy what they do, but rationally, they know they need to change their roles in their businesses eventually. But most owners don’t resist planning their exits on a rational basis. Instead, they resist Succession Planning at an emotional level.
  • F&I Industry Trends 2018

    By MarksNelson on March 26, 2018
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    It’s a good time to be in the automotive industry — or any business, as long as the stock market continues to hit record highs, unemployment remains low, and consumer confidence stays strong. But auto dealers will continue to rely on F&I to maintain profitability, bring customers back for maintenance and repairs, and create opportunities for participation in reinsurance programs.
  • What to Expect When Beginning the Exit Planning Process

    By MarksNelson on March 22, 2018
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    For business owners, the idea of exiting their businesses, which for many owners define their professional lives, can seem like a gigantic undertaking. They ask themselves, “How can I possibly do all of this? Where can I go for help, and what do I need to know?”
  • Claim a Tax Credit for Renovating Historic Real Estate

    By MarksNelson on March 22, 2018
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    If you are in the process of restoring an older building, it may be worth your while to find out whether the building can be certified as a historic structure. As long as the rehabilitation of the building meets certain qualifications, you may be able to receive a federal tax credit equivalent to 20% of your renovation costs and a state tax credit equal to 25% of your renovation costs.