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A blog by Michael DiSabatino CPA with topics on Tax Savings, Business, Management and more...

Consider a buy-sell agreement for your business

Consider a buy-sell agreement for your business

Consider a buy-sell agreement for your business

Marriages end, and so do business ventures. If your business is owned by two or more persons, a buy-sell agreement is one of the most important legal documents your business can have. This document provides for the "buyout" of an owner's interest when that owner leaves. These are the areas that a buy-sell agreement should typically address.

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Should you have a business buy-sell agreement?

Should you have a business buy-sell agreement?

Should you have a business buy-sell agreement?

What will happen to your business if you die, retire, or become disabled? If you are the owner of a small business, you need a means for the transfer of that business in the event something happens to you. With a "buy-sell" agreement, you are able to plan for many contingencies over which you would otherwise have little control. A buy-sell agreement should establish a price for the business and the method of succession.

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A vital business document: the buy / sell agreement

A vital business document: the buy / sell agreement

A vital business document: the buy/sell agreement

Every business should give serious consideration to how the company would deal with the death, disability, or departure of one of the owners.

Like a will, a buy/sell agreement (also known as a business continuity contract) spells out how assets and other business interests will be distributed should an owner quit, become disabled, or die.

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