The tax implications of your exit plan will vary depending on the strategy you choose. Here are some common exit plans.
Succession Planning Series: Tax Implications of Your Exit Plan
Tag: succession plan
Top 5 Accounting Tips: Start Your Business with the End in Mind
A comprehensive strategy to get your business up and running should include planning for your own exit. As one of the founders, your departure will have a significant impact on the enterprise itself, your fellow business partners, your customers and your future. So, as counterintuitive as it may seem, how you plan to exit your organization is an important decision to make, even at your business’s onset. Take the time to work with a trusted professional to outline your succession plan so that you are prepared for whatever future you encounter.
Board Succession Planning Pays Off
Most nonprofit organizations know they need a succession plan for their executive director, and many have one in place. But managing transition within the board itself is a different challenge, and fewer organizations maintain board succession plans.