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THE BENEFITS OF PROPER PLANNING FOR BUSINESS OWNERS
Owning a business is demanding. Managing the day-to-day activities takes time and effort, and often, personal wealth, business and succession planning take a back seat. But avoiding longer-term planning can have real consequences, most notably in the form of higher income taxes that can reduce net transaction proceeds from the sale of a business or inefficient reallocation to family members or trusts. That is why a structured plan is needed that encompasses all the various personal and business challenges.
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