Business Succession Planning
Succession and exit planning for closely-held Illinois businesses: transferring a company to the next generation, to a partner, to management, or to an outside buyer. Jacobs & Newmark has worked with owner-managed businesses since 1988 and has taken clients through generational transitions, practice valuations, and sales, including the accounting and tax structuring that determines what the owner actually keeps.
What this covers
- Transferring a business to family, a partner, management, or an outside buyer
- Practice and business valuation
- The accounting and structuring that determines what the owner keeps
- Coordination with the client's attorney and financial advisor
- Preparing records and reporting a buyer will scrutinize
When people call us about this
- A child or a manager is expected to take over
- You have received an unsolicited approach from a buyer or a consolidator
- A partner is retiring and the agreement has never been tested
- You want to know what the business is worth before anyone else tells you
Any of these is a reason to call. We will tell you what the situation actually takes before you engage the firm.
Who handles this
Where this matters most
Veterinary Practices
Edward P. Newmark, CPA has more than twenty-five years in the veterinary industry, has worked with dozens of animal hospitals including practice valuations, and is a member of the Veterinary Hospital Managers Association.
Closely-Held & Family Business
Wayne I. Jacobs, CPA has over thirty years in public accounting across retail, service, construction, wholesale, and manufacturing, and joined his father Irvin Jacobs, CPA in practice in 1981.
Other services
- General Bookkeeping
- Financial Accounting & Statement Preparation
- Reviews & Compilations
- QuickBooks Setup, Training & Cleanup
- Payroll & Sales Tax Compliance
- Cash Flow Management
- Bank Financing & Lender Reporting
- Strategic Business Planning
- New Business Formation
- Business & Individual Tax Preparation
- Tax Planning
- Tax Problem Resolution & IRS Representation
Tell us about the business.
A first conversation is about what you run, how the books are handled now, and what prompted you to look. If we are the right firm we will say so, and if we are not we will say that too.
- DuPage County
- Wheaton, IL
106 E Liberty Dr., Suite 201 - Lake County
- Buffalo Grove, IL
100 Lexington Dr., Suite 210 - Hours
- Monday – Friday, 9:00am – 5:00pm