by Leo A. Hannah, CPA, MBA Succession planning is a critical endeavor for all family businesses. If not done properly, a leadership void and/or discord among family members can have a significant negative impact on company performance. Although it is a difficult subject, it is critical to adequately prepare for succession. Key considerations include: Planning … Read more
by H2R CPA Team The Pennsylvania Treasury reports that it is currently holding $2.3 billion in unclaimed property. It also estimates that one in ten Pennsylvania residents have unclaimed property waiting for them. Could some of this property be yours? Sources of unclaimed property include: Abandoned bank accounts Forgotten stocks and bonds Uncashed checks, including paychecks Proceeds … Read more
by Kieran O’Dea, CPA, Partner My advice to clients is to always have an exit strategy in mind. Regardless of whether you’re transferring your business to the next generation, facilitating a management-led buyout or selling to an outside party, it’s never too early to start preparing your business for transition. At a minimum, you will … Read more
by Paul K. Rudoy, CPA/PFS, Managing Partner No. Beneficiary designations control how these assets are transferred upon death. Wills do not play a role here. This is a serious mistake many people make, particularly when second marriages and two families are involved, when your spouseis not a parent of your children, or when you want … Read more
by Alex M. Kindler, CPA/ABV/CFF/PFS, CVA, MBA There are many circumstances which might require a professional assessment of the value of your business, such as selling the business, succession planning, divorce, retirement planning and estate planning. Because a business is a significant asset to owners, lenders, creditors and other parties of interest, it is critical … Read more