By MarksNelson on September 16, 2017Cash flow is one of the most important factors in succession planning. All buyers, whether an outside third party or an insider (family member, co-owner, or key employee), will use cash flow as a way of measuring or confirming the value of the companies they buy.
By MarksNelson on August 29, 2017The destruction in the wake of Hurricane Harvey has shown the devastation that a natural disaster can bring. As a business owner, it is necessary to acknowledge and plan for the potential risks.
By MarksNelson on August 16, 2017Setting goals is critically important to owners who begin Exit Planning. Without goals, even the strongest processes fail, because they have no purpose to work toward. Your goals are what guide your process toward a successful exit, and without them, you’ll find yourself spinning your wheels in the mud of indecision.
By MarksNelson on August 2, 2017Whether you’re looking to exit your business in 10 months, 10 years, or never, one fact governs them all: All business owners—even the hardest working, most dedicated workaholics—will exit their businesses someday. Whether by choice, death, or otherwise, you need to be able to answer the question, “What will happen to me, my business, and my family upon my business exit?”
By MarksNelson on August 2, 2017Business owners who also work for their company have the added responsibility of managing their company on a day-to-day basis, making it difficult to find the time to tackle big-picture business planning issues. Therefore, thinking about ways to increase your company’s value may fall by the wayside in favor of more pressing matters. If you can work the following strategies into your day-to-day management of the business, you can begin laying the foundation to increase your company’s value.
By MarksNelson on July 19, 2017Once owners see that the two processes share the same goals, they can appreciate how to leverage the time and money they spend developing their Exit Plans into the design of their estate plans.
By MarksNelson on July 7, 2017The ideal Exit Plan (one that provides the business exit you desire) includes a strategy to help you preserve your hard-earned wealth from unnecessary taxation when it is transferred to your family. However, to preserve wealth, business owners must take steps before they actually have wealth.
By MarksNelson on June 28, 2017Kansas City accounting and consulting firm MarksNelson LLC is pleased to announce that Partner Robert Metcalf will serve a four-year term as Region 4 Governor of the American Society of Appraisers. The ASA is a nonprofit organization which serves as a professional affiliation of appraisers of all disciplines, working cooperatively to elevate the standards of the field.
By MarksNelson on June 7, 2017Late Tuesday, the Kansas Legislature voted to override Governor Sam Brownback’s veto of a budget bill that includes both a tax increase and a rollback of the 2012 business tax cuts. Both are effective retroactively to January 1, 2017.
By MarksNelson on May 17, 2017Contemplating one’s own demise can be challenging but is paramount to sole owners and their businesses. Consider the fictional Harry Withers, the 54-year-old owner of Withering Hikes, a chain of seven retail apparel stores for outdoor enthusiasts on the Western Slope of the Rocky Mountains. One day, Harry disappeared while scouting new hiking trails.
There is no substitute for personal attention. It enables us to truly connect, so we can understand your perspective, anticipate your needs and provide the best solutions. That means real conversations, not impersonal emails.
At MarksNelson, we think curiosity is a virtue. After all, any accountant can focus on your numbers. We get down to business by first learning yours, inside and out. Our associates work to understand not only what you do, but why you do it.
The team at MarksNelson believes that the smallest point can be just as important as your biggest line item. Our goal is to deliver a quality product, prepared with great attention to detail and accuracy. Whatever industry you are in.
We work to be vigilant with everything we do. But why? The truth is... every firm says they will put you first. MarksNelson does more, by keeping on track and informed. We want to collaborate with you to provide you with the solutions that you need.
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