small business

Tag Archives
Buy Out a Partner

How a Buy-Sell Helps to Buy Out a Partner

<– Return to the first page of how a buy-sell agreement helps to buy out a partner

More Ways a Buy-Sell Agreement Will Help Buy Out a Partner


Suppose that Steve decides that after years of hard work and dedication, he wants to retire so that he can travel the world while he’s still fit. Leonard plans to stay at the sandwich shop and actively continue to run the business.

Why Your Company Needs a Buy-Sell Agreement

Why Your Company Needs a Buy-Sell Agreement

When you don’t have any partners in owning your business, it’s far less complicated to shut down or sell off the business if you’re ready to move on to something else. However, for businesses with more than one co-owner, one of the most important agreements to establish early on is a buy-sell agreement. This outlines the protocol for what should happen if a partner wants out of the business for any reason, helping all parties to navigate these transitional periods. There are a number of reasons that an owner would no longer be able to participate in a company—these are often called “trigger events.” Here are some common trigger events that require businesses to call upon their buy-sell agreements, and how these events may wind up being handled.

Expense Accounts

Accountable vs. Non-Accountable Expense Accounts

There’s no doubt that in order to make money, you need to spend money. However, when it comes to taxation, the way that companies choose to spend their money can make a huge difference. Depending on how a company structures their work-related expenses will affect not only how the company is taxed on those expenses, but how employees are reimbursed for the money they spend.

Sign up for the CPA Chronicle monthly newsletter by clicking here

Contact Info

30 Jericho Executive Plaza Suite 500W, Jericho, NY 11753

Phone - 516.746.6322
Fax - 516.746.8679