Retire, Sell,
or Close

At some point, small business owners think about exiting their businesses – by either selling the business, passing the business to a family member, or closing the business altogether. BBSI provides small business owners with the expertise to properly consider this very important decision e.g. conducting a thorough business valuation, examining facets of succession planning, or considerations and preparations that would be needed to exit the business.

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Retirement options for small businesses

SEP-IRA, 401(k), profit sharing - which should you choose? The first thing you need to know, is that you can't set up a tax-deductible retirement plan that is "top-heavy" or benefits the owner and top managers of the business only. You must make the plan available to all full-time employees. Then, your choice depends on whether you want people to manage their own funds or have a central fund manager, and how much paperwork you are willing to endure. Here is information explaining your choices:

Choosing a retirement plan for your small business - video

Comparing retirement choices

Once you have a plan - legal requirements

Who will take over your business?