Finance & Enjoyment Blog

Denver CPA: Planning an Exit Strategy

One of our goals at KKB is to help our clients navigate all financial aspects of their practice. We help our clients with their taxes, personal wealth management, and we also offer business and practice consulting. One of the many services we provide our clients is exit planning. Planning an exit or transition strategy is not reserved for business owners looking to retire. Company owners of all ages should have a plan in place, and your Denver CPA can help with the right strategy for your business or practice.

The first step is developing a succession plan. This plan will help you choose a successor for your job, and develop a training plan for your successor. A succession plan will also help establish a timeline for shifting control of the company during your lifetime.

Invest in a retirement plan and insure your wealth. Begin your retirement plan early-no matter your age. That retirement plan may encompass recreation, travel, community service or another business venture—whatever is right for you. As your successor takes on more and more responsibilities, spend time planning how you will continue to be energized and involved in other activities away from the business.

Planning an exit strategy is a very important step in owning a business. If you don’t have a strategy in place, KKB can help you establish a strategy so that when the unexpected happens you are prepared. If you already have a plan in place, KKB can review it to make sure it reflects up to date information.

How to use this Information

If you have not thought about planning an exit from your business, now is the time to start. Contact KKB today at 303-815-1100 and talk to us about your future goals for your business or practice. Our expertise in exit planning covers sole proprietors and partners to larger companies and corporations. It’s never too early to start planning.

Have you started thinking about an exit strategy for your practice?

Posted in Retirement and Exit Strategies »

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