Did you receive a tax refund this year? Recent data released by the Internal Revenue Service (IRS) shows the average tax refund amount is up $178 at the end of March 2024 compared to the same time last year.
Author Ken McCracken explores economist and philosopher Adam Smith's thinking on self-interest and sympathy and how to apply it to succession planning.
The author discusses how running a business and a family unit with an eye toward diversification is the best way to ensure a family’s legacy and, ultimately, the enjoyment of the fruits of the family’s labor for generations to come.
When developing a succession plan for your business, you must make many decisions. Should you sell? Should you structure your plan to go into effect during your lifetime or at your death? Should you transfer your ownership interest?