September 5, 2010

PERSONAL FINANCIAL PLANNING

 
It is critical that a business owner incorporate a comprehensive personal financial plan into an exit plan.

You should have the answer to these questions:
  • What is the annual after tax income I need to fund my lifestyle after business ownership?
  • Will I be financially independent if I were to sell the business?
  • Am I already financially independent of my company?
You should know today how much you need to save, in addition to realizing the value from your business, in order to have enough assets to generate the income you will need to fund your lifestyle when you no longer own the business.
 
 

 

DISCLAIMER: The information contained on this website is general and educational in nature and is not legal, tax or financial advice. For information regarding your particular situation, you should contact an attorney, tax or financial advisor. The accuracy of the information is not guaranteed and is provided with the understanding that O'Hara & Company, PC is not rendering legal, accounting, tax or financial advice. In specific cases, clients should consult their legal, accounting, tax or financial advisors.

Circular 230 Notice: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. tax advice contained in this communication is not intended or written to be used and cannot be used by any taxpayer for the purposes of avoiding U.S. tax penalties.

 

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