Life Insurance – DougFreemanCPA.com

Do you want to withdraw cash from your closely held corporation at a low tax cost?

Closely Held Corporations, Corporations, Small Business, Tax, Tax Deduction, Tax Planning / Douglas Freeman

Owners of closely held corporations are often interested in easily withdrawing money from their businesses at the lowest possible tax cost. The simplest way is to distribute cash as a dividend. However, a dividend distribution isn’t tax-efficient, since it’s taxable to you to the extent of your corporation’s “earnings and profits.” And it’s not deductible […]

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How’s your buy-sell agreement doing these days?

Insurance, Partnerships, Small Business, Strategic Business Planning, Succession Plans / Douglas Freeman

Most companies wouldn’t go into business without some basic types of insurance in place, such as property coverage and liability policy. For a company with more than one owner, there’s an additional type of risk-management arrangement that needs to be established: a buy-sell agreement. If your business has yet to create one, you should start

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What lenders look for in a succession plan

Accounting, Small Business, Succession Plans, Tax Planning / Douglas Freeman

Business owners are urged to create succession plans for the good of their families and their employees. But there’s someone else who holds a key interest in the longevity of your company: Your lender. If you want to maintain a clear path to acquiring the working capital your business may need after you’ve stepped down,

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