News
Made in Michigan: case produces fruitful holdings for business owners
As the material participation debate continues to ripen, taxpayers and tax professionals are provided with the sweet taste of clarity surrounding the question of whether… READ MORE
Wemployee stock ownership plans offer many advantages to family-owned business and their shareholders
Employee Stock Ownership Plans, or ESOPs, have been used as succession planning tools for family-owned businesses for 40 years. However, not all business owners or… READ MORE
Income tax changes and the family business owner
Last year ushered in many changes on the tax front resulting from the American Taxpayer Relief Act and the Patient Protection and Affordable Care Act.… READ MORE
Considering employment in the family business
Are members of the next generation of the family business considering working for the family firm? Perhaps they live and work elsewhere and are thinking… READ MORE
Family business and building culture: one barrier, three advantages
A recent study by Nicolas Kachaner, George Stalk and Alain Bosch published in Harvard Business Review (Nov. 2012) indicates family-run businesses have an innate advantage… READ MORE
Finanical literacy: what you don’t know can hurt your business
Financial literacy — the knowledge of financial matters needed to make informed judgments and decisions on the management of money — has become an increasingly… READ MORE
Is fair always equal? Challenges in the family business succession
Families face many challenges when passing ownership of the family business between generations. A key component to succession planning is determining how to treat children… READ MORE
Capital gain rules benefit familty businesses and investors
Once known as “Furniture City” and now “Beer City USA,” Grand Rapids has long been a home to innovation and entrepreneurs. Want to create a… READ MORE
Health Care Tax without heartburn, an easy-to-digest overview
It’s no fun to be sick. Illness often requires spending time in a pharmacy, doctor’s office, or hospital, all of which can be very expensive.… READ MORE
Private equity growing trend in family business research and practice
Family business is becoming recognized for the important role it plays in the global economy. And, not surprisingly, West Michigan is becoming recognized as a… READ MORE
Compelling reasons for pre-transition planning
Family-business owners often spend a lifetime building their business, and it is typically their single largest financial asset. As the owner contemplates retirement, a common… READ MORE
Prenuptial agreements and the elephant in the room
It is common for owners of businesses to want a prenuptial agreement prior to marriage. There are many good reasons for having a prenuptial agreement:… READ MORE
Selling your business “someday”? Five things to consider now
There are a myriad of external factors that can influence the best time to sell your business: taxes, interest rates and market demand, to name… READ MORE
Service Providers, trusted advisors: How to work with family businesses
Are the majority of your clients family businesses? Chances are, yes. Of all the business entities in West Michigan, 88.8 percent identify as family owned.… READ MORE
Preparing the next generation to purchase the business
West Michigan has a rich tradition of successful family-owned businesses, and ensuring they pass from one generation to the next is often very challenging but… READ MORE
The softer side of business: when process trumps outcome
“If the relationships matter, then process trumps outcome.” — Greg McCann Greg McCann, a nationally recognized family business consultant, spoke these words at a Family… READ MORE
Fair versus equal: legacy planning with a family business
Planning for the succession of a family business can go beyond a discussion of equal versus fair. Should the business be transitioned now or later?… READ MORE
Succession planning – creating a dynasty
Recently, I spent time with old friends reminiscing about the “glory days” of high school athletics. We were lucky to be part of some excellent… READ MORE
Passing on the family business a daunting and challenging task
Succession planning is a critical and sensitive topic for any organization. This is especially true when discussing family businesses. It is often thought of as… READ MORE
Keys to successful multi-gerational family enterprises
As the next generation of my family’s enterprise, the Frey Foundation, I have been training to be a trustee for more than 20 years. This… READ MORE
