Small business owners are quite often very good at what they do; however, CMC’s legacy of success stories proves that when we partner with your business, we can help you run it much more efficiently.
In fact, CMC can help small business owners with tax, accounting, compliance, general business savvy and succession planning. As a privately owned, family-run accounting firm, we fully realize that privately owned businesses have very different needs. In most cases, the financial health of your business is synomous with the financial health of your owners and key personnel.
Our approach is to look at all aspects of your small business ownership from multiple angles: how will events, decisions and transactions affect the business and owners as separate and distinct entities, as well as your group as a whole? Some questions that we have heped our clients who have privately owned businesses answer include:
- Succession Planning: When a business partner is ready to retire, how do you buy them out? What steps should you take? How long is the process? How does that affect both cash flow and taxes for the business and the remaining business owners?
- Office Leasing: If you’re leasing a new office location, what are the risks of executing a personal guarantee? Should you consider short-term or long-term financing vs. purchasing a building?
- Retirement vs. New Careers: When you decide to stop working or pursue other interests, what will happen to the business and will you benefit personally from your years of hard work and sweat equity?
- Business Savings: If you are investing your savings in a business, how will it affect your spouse/life partner financially?
Most small business owners don’t have the resources to help them answer any or all of these questions objectively. At CMC, we’ve worked with privately owned businesses in all stages – from start-ups to maturity, and from mergers to acquisitions.
To find out more about how we can guide privately owned businesses, small business owners, or succession planning for your company, call us today at (510) 891-9000.