Plan for what's next.

It’s never too early to start planning your business exit. Owner Actions can help you with the strategies to smooth your transition. Sign up today for a step-by-step guide, articles, and resources that will walk you through early tax strategies, sales preparation tactics, and actions you need to take today to make your exit a success.

Articles That Drive Action

Two people sit at a desk discussing buy-sell agreements

A Primer on Buy-Sell Agreements and Buy-Sell Insurance

If you are a co-owner or a partner in a small business, you may be considering a buy-sell agreement or …

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A person sitting a desk with a pen and portfolio considers whether to transfer the ownership of a business to a trust

Transfer the Ownership of Your Business to a Trust

As a small business owner, you know how important it is to have a plan in place that covers the …

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A business owner sits at a desk with a computer, thinking about strategies to reduce estate taxes.

Strategies Every Business Owner Should Consider to Reduce Estate Taxes

In this article, we share some strategies you may be able to use to reduce or eliminate federal and state …

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A person in a chef's uniform looks into the distance, as if thinking through the succession plan of a business.

Succession Planning for Small Business Owners

Owners who are the lifeline of their companies tend to possess all the knowledge and connections their businesses need to …

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A person's hand and pen are shown working on a tax form

How to Reduce Your Tax Liability When Selling Your Small Business

Disclaimer: The following information is intended to be a high-level overview of the taxable effects of a sale of a …

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Business Checklist

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Develop your plan.

What will happen to your business when you retire, die, or become incapacitated? Without a succession plan, the business you've worked hard to build may struggle or, worse, unravel completely.

Avoid the worst-case scenario by developing a robust succession plan for your business. Follow our guide to develop emergency plans, name successors, clarify how assets should be distributed, and more to take care of your business—and your heirs—in any scenario.

Put agreements in place.

If you have a partnership arrangement, you might consider establishing buy-sell agreements to ensure your share in the business passes to your partners (and that you partner's share passes to you) rather than allowing it to be bought by a third party or inherited after one of you dies. This is important for ensuring that your business survives and endures according to your wishes far into the future.

Consider tax strategies.

When you die, the assets you own and pass along to your heirs may be subject to hefty federal and state estate taxes. How hefty? In 2020, federal taxes alone were as high as 40% for taxable amounts greater than $1 million. 

There are strategies you can employ to reduce your estate tax obligation—or eliminate them altogether. Read our guide to learn more.