Business
Exit Support
The first step in winding down your business is deciding that it’s time to close. For some business owners, deciding to close can be the hardest step in the process of exiting a business, and we understand the emotional struggle this presents. We help ensure you take all necessary legal steps to close your business effectively and do so with the utmost sensitivity to the situation.
Every business is unique, so when a business unit or product line no longer fits with a company’s overall strategy, and therefore is unable to pay for the tax liabilities owed, the best thing may be to choose to wind it down. However, this decision has many implications for employees, customers, contracts, vendors, and manufacturers if not done properly and strategically.
Winding Down Strategically for the Best Outcomes
We look at the overall picture. Our goal is always to keep the business operational, however, if by properly winding it down, it can eliminate the tax debt that is an impossibility to pay, we know exactly how to do that. We also aim to ensure that these liabilities are not assessed personally on the individual taxpayer by way of Civil Penalties. If staying in business is something you’re questioning, we can help advise the best-case scenario and carry it out giving you the very best outcome.
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