Throughout my career as a psychologist, I treated many people who found themselves dissatisfied with their life in retirement. They had given little thought to the magnitude of this transition and their aimlessness was palpable. It struck me that a handful of preparatory discussions before they retired might have saved them from significant discomfort not…
I’m having a lot of client dialogue on Cash Balance Plans (CBPs). A CBP is the third sleeve of a Retirement Plan – following the standard 401k and Profit Sharing sleeves of traditional plans. The contribution limits are substantial allowing participants the ability to contribute significant $s pretax and to grow those contributions tax deferred….
Have you ever had a deal blow up at the eleventh hour because your client got cold feet or found fault with the deal terms for seemingly irrational reasons? If so, you have likely witnessed the disruptive effects of unaddressed unpleasant feelings and concerns. All change, even when it results in a huge payout, involves…
We Have a Leadership Brand by Accident or Design. How is your #leadership known and how do you want it to be known? What is your Leadership Brand? Simply put, your Leadership Brand is how you lead as the unique human being you are. It comprises your authenticity, clarity of expectations, vision, consistency, and value as a…
For many of us, work is a primary source of accomplishment and pride. Throughout the course of our career, we point to projects completed, problems solved, and people helped. If you’re contemplating retirement, it’s easy to imagine you will find yourself missing the satisfaction that comes from a job well done, not to mention dwelling…
The problem that sometimes occurs when working with a business owner who is considering exiting their business is the strong link between the owner and his business – that is the challenge that the owner has difficulty viewing their life after they exit the business and separate from the business. There are several approaches to…
“What will I do after selling my business?” he asked. I hear that a lot both in my M&A practice, True North Advisors Group and my coaching business, The Platinum Years. “I fear I will fall into a void, if I sell”, is another common refrain. As we get into our 50’s, 60’s and 70’s,…
There is something I’ve noticed when people tell me about their first year of retirement. Occasionally they will mention adjusting to living on a fixed income, but more often it’s the non-financial side of things that occupies their mind. In some instances they sound pleased. For example, they’re eager to talk about new hobbies, interests,…
And the Beginning! Change is the external event, situation, or relationship that morphs into something new/different/better/worse. After a 30-year successful run, the founder/business owner sells his or her business. That’s the change. Here’s how my client, Jim, described it to me this week: One day I’m in my office and the next day I am…
Many business owners wonder, “What will I do after I sell my business?” While most envision travel, or golf, etc., many fail to understand that they will likely have to stay on board for months or even a couple years to transition the business to the new owners. This period can be hard for many…
Program produced by XPX South Florida. Please join XPX South Florida for the third installment of our 2022 exciting, in-depth seven-part “Lunch and Learn” series, where our Chapter’s professional advisers will discuss the exit planning strategies to be employed by a model middle market software development company with $50 million in annual revenues. In this…
This XPX New York program discusses savings vehicles and gift giving strategies to reduce state income tax burdens including: i) Non-Grantor Incomplete Gift Trusts, ii) Spousal Lifetime Access Trusts, iii) Business Interest Discounts, and much more. Our Speaker: Steven HoltPartnerMandelbaum Barrett Steven A. Holt is Chair of the Firm’s Taxation, Trusts and Estates and Charitable…
A client recently sold his business and was looking for options to address a large capital gain as a result of the sale. We presented a number of solutions with support from his other advisors. One of the options we are implementing includes an investment in a Qualified Opportunity Zone (QOZ). Opportunity Zones were born…
Great news! Your CPA has informed you, “you will make a lot of money through your real estate portfolio…the bad news, you will have to cut a fat check to the IRS; you’re getting killed on Capital Gains Taxes and Depreciation Recapture.” Sure, you’re familiar with the 1031 Exchange Tax Code. You are at the…
Many small business owners haven’t taken the time to decide how to exit their business. Let alone, have they decided what to do in case of an emergent, unplanned exit. Exit planning for small business owners can be challenging and a bit scary, so let’s take some of the mystery out of it. Warning: this…
By Allan Tepper Often, parties interested in making a purchase are serial buyers, hence their advantage. But for midsize sellers, this will probably be the one and only time they sell. Sellers spend the better part of their lives building a company so they can now cash out and ride into the sunset. Unfortunately, mergers…
Entrepreneurial leaders do a lot of things well, but hiring the right people, aligning talent for top performance and optimizing collaboration is not where they want to spend their time. It’s not why they went into business and they are unfamiliar with the impact of talent on their growth and succession goals. They don’t understand…
Don’t be surprised if no one is answering the phones at Brody and Associates on June 19th. The number of private employers offering Juneteenth as a paid holiday continues to grow and has jumped significantly over the last three years. Last year, nearly one-third of all private employers gave their employees a paid day off. This…
Date: June 2, 2023 Start Time: 12 p.m. EST End Time: 1 p.m. EST Platform: Zoom Questions: Chat Click here for free ticket: Robert Jordan How is it that some leaders win brilliantly and repeatedly, while others struggle to reach their full potential? Over a decade, Robert Jordan and Olivia Wagner set out to answer this question, interviewing thousands of…
Last week, the NLRB’s decision in Noah’s Ark Processors, LLC (“Noah”) held that repeat offenders of the NLRA could be subject to extraordinary remedies. The Board went on to detail when such remedies were appropriate, and outlined the types of actions violators could expect to be subject to if they have undertaken egregious misconduct or “have shown…
Methodology to Avoid Business Disruptions A business requirements study is conducted before the software implementation begins. The legacy software database is transferred to the test environment and verified daily for accuracy. Once test-environment data is verified for accuracy the step below will be taken. End users are trained in the test environment that has…
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