![]() ![]() ![]() Often, the best time tax-wise to start transferring ownership is long before the owner is ready to give up control of the business.Ī family limited partnership (FLP) can help owners enjoy the tax benefits of gradually completing a family business transfer of ownership yet allow them to retain control of the business. A family succession plan is the transfer of ownership and control of the company to the next generation. One of the biggest concerns for a family owned business is succession planning.
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