3 Important Things to Complete When Selling/Exiting Your Business

Published by William T. Fricke at October 18, 2019

About Us

Exit plans are meant to be thought out well before they are needed. Whether you are preparing an exit plan for the future or selling your company soon, the team at Fricke & Associates, LLC can help your process go smoothly. Your exit plan should maximize returns, minimize tax liability, and avoid errors. If you are ready to start formulating your exit plan, here are some considerations to plan for:

1. Prepare a Team of Professionals—At the beginning, you need to make sure you have a qualified team made up of financial planners, accountants, and attorneys prepared to assist everyone involved. The professionals at Fricke & Associates, LLC are highly experienced with navigating the exit plan process and could be part of your team.

2. Establish Clear Expectations for The Buyer—Through the efforts of your team, you can get an accurate assessment of your company’s income and value. At this time, a contract can be drawn up to include sales terms. Your attorney can review the contract to make sure your interests are fully protected.

3. Get Your Documentation Ready—Beyond the contract, you will also need to prepare relevant documentation. Your books should be prepared for the transaction. You will also need to provide the buyer with financial history, including statements and tax returns. These details are crucial for the buyer for future comparison.

Whether you plan to sell your business or just transition your business to your family, you need a clear exit plan to protect your interests. By having an exit plan, if you become disabled or pass away before retirement, your business will live on and your family will receive the value they deserve for it. Being pro-active about exit planning will help preserve your company’s legacy. If you are ready to consider your exit plan, schedule a consultation with the team at Fricke & Associates, LLC

Explore Our Blog

We have set ourselves up as leaders in the industry to educate our audience on relevant topics in the accounting world.

Film & TV Tax Liabilities for Independent Contractors

September 1, 2023 by William T. Fricke

Independent contractors in the film and TV industry face unique…

Read more

How Fricke & Associates Serves the Film & TV Industry

August 1, 2023 by Doug Chaffins

The film and TV industry’s tax and accounting needs are…

Why Trust the Experts When Filing Taxes for the Film & TV Industry

July 3, 2023 by William T. Fricke

The process can be overwhelming and confusing when filing taxes…

We can help

If you need a bookkeeping professional for Small businesses in Atlanta, GA, Fricke & Associates, LLC. We have the expertise and experience to understand your needs, analyze your financial data, promote your growth, and ensure your financial future is set on a successful path. Additionally, we are a leader in developing and implementing the latest technology for optimizing accounting, tax, and financial planning solutions.

Join Our Email List

Enter your email address to stay up-to-date on recent tax laws and receive helpful tips!