Mueller CPA

Tax Services- continued

Business Succession Planning

A carefully crafted succession plan ensures that you can leave your business when you want to without interrupting your income stream and ensuring your and your family’s financial security.  We are skilled in all aspects of exit planning, part of which will often include a buy-sell agreement.  We always conduct a thorough analysis of the tax effects of such a transaction.

Buy-Sell Agreements

We have over 25 years of experience advising clients on buy-sell agreements.

Have you ever asked these questions?

  • Can the business survive without me?
  • How will I control who will become an owner if a Partner or Associate should die?
  • How can I minimize the taxes on my business interest if I die?
  • How can I motivate my executive team?
  • Can we compete for needed executive talent without offering an ownership stake to them?
  • Will my estate be on solid ground when the IRS challenges the value of the business included in my estate?

You need a Buy-Sell Agreement for your business:

  • Your business is one of your most valuable financial assets.  A Buy-Sell Agreement protects that value.
  • If you have Partners or Business Associates the Agreement provides a written plan to follow if death or disability strikes.
  • A Buy-Sell Agreement protects your family and your partners’ family if a crisis arises.

Key Benefits of a Buy-Sell Agreement:

  • Establishing a Buy-Sell Agreement helps identify a buyer of the business during your lifetime or in the event of death.  This protects the continuity of the business because it provides a plan for succession.
  • A Buy-Sell Agreement that is properly structured will consider the funding needed for the purchaser.
  • A Buy-Sell Agreement sets a value for the business before a crisis arises.  By reaching an agreement when all parties are healthy and no one has been identified as the buyer or the seller you assure that the value will be fair to all concerned.

Mueller & Co., LLP would like to help you to design an agreement that will meet your business needs.

Employee Benefit Programs

With payroll expenses escalating, the "cost" of attracting and retaining quality people increases.  It is not unusual for this “cost” to exceed thirty percent (30%) of the payroll or salary expense. Mueller & Co. LLP can assist in formulating a cost effective benefits package that achieves your goals.

Benefit Programs Available Through Mueller & Co., LLP

Each benefit package should be tailored to meet the needs of the company and its employees.  Possible benefit packages include but are not limited to: Qualified Retirement Plans; Health, Dental, Disability, Long-Term Care Insurance, Life and Key Man Insurance; Flexible Spending or Cafeteria Plans; Company Automobiles; Stock Option Plans; Stock Appreciation Rights; Employer Provided Child Care; Deferred Compensation and Salary Continuation Plans.

What Benefit Plans Will Mueller & Co., LLP Service?

We offer complete installation and administration of Profit Sharing Plans, 401(k) Plans and Flexible Spending/Cafeteria Plans.  Since many employee benefit plans involve insurance, our insurance specialists design benefit plans specifically to meet your business needs.  As most plans are specifically provided for by federal income tax law, we can ensure you take full advantage of the tax benefits.

Different reporting requirements apply to employee benefit plans. We are skilled in helping your business to comply with these requirements to minimize any exposure to the severe penalties applicable by law.

Estate, Gift & Trust Services

With current estate tax rates beginning at more than 40%, an unplanned estate could cost your heirs much of what you have earned in your lifetime.  For people like yourself, estate taxes may be the largest tax expense you will ever face.  Mueller & Co., LLP can assist in formulating and implementing various estate planning strategies to minimize liabilities.

What Is The First Step?

We determine what property will be included in the estate for tax purposes.  This includes reviewing the ownership and values of assets owned personally or in trust, and rights you may have in trusts established by others.  We prepare a summary of these items, offset by projected liabilities and deductions, and forecast your family’s potential tax burden.

Estate planning is critical if you own stock in closely held companies, interests in limited partnerships or have substantial amounts saved in retirement plans.

What Tax Strategies Are Successful?

Each estate plan is tailored to meet individual needs.  Estate planning strategies include: Living Trusts, Family Trusts, Family Partnerships, Life Insurance Trusts, Annual Gifting Programs to family members, special trusts and planned charitable giving.

What Other Services Does Mueller & Co., LLP Provide?

We prepare a number of estate, gift and trust tax returns. Planning strategies keep combined estate and income taxes to a minimum.  Without proper planning, deductions can be lost and income can be taxed at higher rates than necessary.