Questions Business Owners Ask

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• How do I choose the good-fit retirement plan for my business?

  Selecting a retirement plan involves reviewing your business size, tax considerations, cash flow, employee needs, and long-term goals. Options range from SEP IRAs and SIMPLE IRAs to 401(k) plans and profit-sharing structures. We help compare these choices, outline administrative requirements, and evaluate tax implications so you can implement a plan that fits your business and supports your team.

• What does business planning include for small and mid-sized companies?

  Business planning evaluates your current financial structure, cash flow, tax exposure, growth goals, and operational needs. Owners often seek help understanding entity structure, budgeting, compensation planning, and long-term strategy. Duncan CPA & Advisor PLLC brings a CFO-level perspective to organize these elements into a practical, coordinated direction that supports both day-to-day decisions and future goals.

• When should I start planning my business exit or transition?

  Ideally, exit planning begins several years (often 5–10 years) before you intend to sell, transfer ownership, or step back from daily operations. Early planning allows time to improve financial reporting, evaluate valuation drivers, address tax implications, and prepare internal or external successors and leadership. Starting early helps protect the value you’ve built and can provide more transition options.

• What’s the difference between succession planning and exit planning?

  Succession planning focuses on who will take over key roles, such as family members, partners, or internal leaders, while exit planning focuses on how ownership or control will transfer, including financial, tax, and legal mechanisms. Most business owners need both. Integrating these strategies helps ensure continuity and minimize disruption, while supporting long-term value for the company and the owner.

• How do taxes factor into business transitions or sales?

  Taxes can play a major role in the financial outcome of a business sale or transition. Structure, timing, valuation, depreciation history, entity type, and buy/sell agreements all influence tax impact. We evaluate these factors early and coordinate strategies—such as installment sales, entity adjustments, or compensation planning—to help improve after-tax results and avoid costly surprises.