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  • 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.
  • How Long Should I Keep My Tax Records?

    By MarksNelson on February 26, 2018
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    It’s tax season and if you think the work is over once you file your return, think again.
  • When Key Employees Stall Your Exit Plan

    By MarksNelson on February 21, 2018
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    An important part of a successful ownership transfer, regardless of Exit Path, is the presence of key employees.
  • Knowing What You Have In Order to Get What You Want

    By MarksNelson on January 19, 2018
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    For many business owners, building their successful businesses began by accurately determining what they had. Whether their businesses provide products, services, or ideas, the success they experienced didn’t come to them blindly. It likely took years of refinement, study, and analysis to figure out the best way to establish and deliver the thing that makes the business successful. The same is true when discussing business exits.
  • A Closer Look at the Tax Cuts and Jobs Act

    By MarksNelson on January 11, 2018
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    A quick access guide to the federal tax law changes.
  • Setting Exit Goals for the New Year

    By MarksNelson on January 9, 2018
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    With the new year upon us, many people have begun their journeys to fulfill their New Year’s resolutions. For business owners, it’s no different. Between creating goals for the business to achieve and assuring that the business keeps growing, owners will have much to consider this year.