Vol. 2 Issue. 10 - October 2010 www.cannonfinancial.com
Planning Ideas - Business Valuation
Whether a client’s business succession strategy involves retaining the business for the benefit of future generations or selling the business to a third party, business valuation is central to the plan.
Where the strategy is to retain the business, valuation is essential for wealth management and transfer tax planning. Typically, the focus is on developing a valuation that will withstand IRS scrutiny for transfer tax purposes.
Where the strategy is to sell the business, valuation lies at the heart of every M&A, ESOP and IPO transaction. No one wants to sell for too little and no one can afford to pay too much. - Read More.
Practice Management - Rev Up Your Branding Message (Part 2)
In Part 1 of this article, appearing in last month’s newsletter, we discussed how to rev-up your branding message. One of the most valuable tools in your tool box is a finely honed branding message.
In general, there are five key points to your branding message: 1) How you, your firm, and/or your team uniquely serve clients; 2) How you, your firm, and/or your team are able to provide this level of service; 3) The vast resources available to you that support this level of service; 4) How you, your firm, and/or your team deliver this service locally in a highly
personalized way; and 5) Why you, specifically. - Read More.
Regulation and Compliance -
Working with Seniors
Today in the United States, nearly 40 million people are age 65 and older. This number is expected to more than double to 89 million by 2050. In addition, many seniors find themselves with smaller nest eggs than they anticipated as a result of the economic downturn experienced over the past 18 months.
Estimates show that total retirement assets decreased by $4.5 trillion, or 25 percent, from 2007 to the first quarter of 2009. In response to these demographics, there have been a number of recent developments intended to influence the way in which advisors targeting and working with senior investors hold themselves out and conduct business. If seniors are a part of your practice, you need to know the rules. Read More.
Taxes - Small Business Tax Cuts
Even as a brawl looms in Congress over expiration of Bush-era income tax cuts and reinstatement of federal estate and generation-skipping taxes (GST) taxes in 2011, the House is slated to pass and send to President Obama a bill providing tax and other relief for small businesses before the end of September. The bill, the Tax Provisions in Job Creation and Tax Cut Act of 2010, has already cleared the Senate, where it enjoyed support from both Republicans and Democrats.