Retiring from a family business is more than handing over the keys. We build a succession plan that respects the family, protects the business, and keeps the tax bite small — so the next chapter starts the way you want it to.
One plan, one family
What we’ll line up with you.
Fair to every heir, talked through together
Continuity of leadership when you step back
Tax-aware transfers built around your structure
Quiet conversations with every family member — confidential, patient, and built around your goals.
If you own a family business, retirement isn’t simply a matter of deciding not to go into the office anymore. Planning the succession of your business can make an enormous impact on how smoothly the transition will go.
“What happens to the business when you’re no longer running it?”
“Will you have enough money to retire?”
“What are the benefits of succession planning?”
The family dynamic complicates the whole transition because of the relationships and emotions involved. Most people are not comfortable discussing topics such as aging, death, and financial affairs.
In light of the fact that more than seven out of ten family-owned businesses fail to survive the transition from the founder to the second generation, frequently due to estate taxes or family strife, or both, succession planning should be a top priority for any family business, whether it is complete or not.
A successful succession plan must be created and put into action if a family business is to last from one generation to the next.
Four sticking points where family businesses stall. We work through each one with you — and the people who matter.
Transferring family ownership often adds a tremendous amount of stress to individual family members. We have a conversation with every family member to make sure they all feel like they are receiving an equal and fair part of the pie.
Are you going to pass the business on to your family or sell it to a third party? We help you weigh the advantages and disadvantages of each of these options.
Management and ownership are not the same. You may decide to transfer your business’s management to just one of your children but transfer equal shares of business ownership to all your children, whether they’re actively involved in the business or not.
The tax burden, when transitioning a family business can be significant. The problem is that while taxes are frequently owed when ownership is transferred, a family business is normally not a liquid asset.
After learning your thoughts on the major concerns mentioned above, we build your succession plan with a focus on the following 4 elements:
What the business is truly worth today — the honest baseline every other decision rests on.
Shaping ownership, management, and entity structure so the handoff lands cleanly.
Mapping the tax impact of every move so transfers happen with eyes open and the bite kept small.
Modeling the income you’ll need so stepping back doesn’t mean stepping into uncertainty.
Our Promise: Total Customer Satisfaction
Suncoast CPA Group is a full-service CPA firm dedicated to providing our customers with total satisfaction by our dedication to the highest quality of service delivered with a genuine sense of warmth, friendliness, individual pride, and Company Spirit, in a manner exceeding expectations.
Same team, same standard — wherever you are in Hernando, Pasco, or Citrus county.
A plan for transferring ownership and leadership of your business — to family, partners, or a buyer — in a way that's smooth and tax-efficient.
More than 70% don't survive to the second generation, often due to estate taxes or the lack of a plan. Planning early avoids both.
Years before you intend to exit. The earlier you start, the more options you have to reduce taxes and prepare successors.
We handle valuation, tax-efficient transfer strategies, and coordination with your attorney and financial advisor.
Drop your details and a member of our team will reach back within one business day. Every conversation is confidential, and we move at the pace your family is ready for.
Suncoast CPA Group
We respond same business day — and every conversation is always confidential.
