Succession Planning and AccountingBookkeeping Firms in Draper, UT

Succession Planning Services

If you own a family business, retirement isn't simply a matter of deciding not to go into the office anymore. You've got some critical questions to answer like...

"What happens to the business when you're no longer running it?"
"Will you have enough money to retire?"

The family dynamic complicates the whole transition because of the relationships and emotions involved. Most people are not comfortable discussing topics such as aging, death, and financial affairs.

Comfortable or not, succession planning should be a priority for any family business considering that more than seven out of ten family-owned businesses fail to survive the transition from founder to second generation, typically falling prey either to estate taxes or family discord - or both.

Developing and implementing a well-designed succession plan with a Draper is essential to the survival of a family business from one generation to the next.

A Draper tax accountant can help you with these key issues -

Keeping it in the family. Are you going to pass the business on to your family or sell it to a third party? We help you weigh the advantages and disadvantages of each of these options.
Who's going to run the business when you're gone? Management and ownership are not one and the same. You may decide to transfer management of your business to just one of your children but transfer equal shares of business ownership to all your children, whether they're actively involved in the business or not.
Minimizing the tax bite. The tax burden when transitioning a family business can be significant. The challenge is that a family business is not generally a liquid asset, but taxes are typically due when ownership is transferred.
Making it fair. Transferring family ownership often adds a tremendous amount of stress to individual family members. We talk with each of the family members to ensure that they feel they a getting an equitable and fair share of the pie.

What we do for you...

Once we understand how you feel about the key issues above, we begin constructing your succession plan focusing on these 5 issues...
Business Valuation
Business Restructuring
Tax Consequences
Retirement Projections
Tax Projections

Contact Paramount Tax & Accounting CPAs Draper if you'd like us to help you pass on what's taken a lifetime to build. We offer free consultations on all of our financial planning and tax services in Draper.

Draper, UT tax preparation

Paramount Tax & Accounting CPAs Draper tax accountant

Call 801-890-4777 today!

Request Appointment

First Name

Last Name

Phone (optional)

Business Name (optional)

Zipcode

Comments or Questions

Texting Opt-in

By providing a telephone number and submitting this form you are consenting to be contacted by SMS text message. Message & data rates may apply. You can reply STOP to opt-out of further messaging.

Learn More

Additional Business Services

Paula Covington was amazing she was friendly and so fast at sending me the documents I needed!!! Thank you

— Mandee Orton, Posted August 27th 2025 on google

Braden Thompson is the man. Helped me with my nightmare tax situation. I have already recommended Paramount to my coworkers because of him. Much appreciated.

— Curt F, Posted August 5th 2025 on google

I’ve used them for filing difficult returns twice now, they do good work and were quick about it.

— Charles Solomon, Posted June 23rd 2025 on google

First time filing my business with Paramount, the process was simple and well explained by the CPA's throughout the entire session. As well as helpful tips for future filing goals towards better my business. They are interested in the growth of your business and make it very easy to talk to and build a trustful connect...

— Isaac Rubio Valerio, Posted May 5th 2025 on google

We had a great experience thanks!

— Bradly Larson, Posted April 15th 2025 on google

Just switched to Paramount this year and saved a TON of $$! Worth every penny.. Braden is great to work with and very responsive to any questions I had.

— Blaze Van Natta, Posted April 12th 2025 on google

I can't say enough good things about Paramount Tax. From the moment I walked in, I felt like I was in the hands of true professionals. The team is incredibly knowledgeable, patient, and genuinely cares about helping you make the best financial decisions. They took the time to explain every step of the process, answered...

— Sam Delahunty, Posted April 12th 2025 on google

Great tax firm; have helped us for last several years with expertise and timelines. Recommend to others.

— Barry Preator, Posted April 11th 2025 on google

Braden was awesome and very helpful. It was a quick and easy process to fill out everything and he called me to make sure I had sent over all of the documentation so that I could get the most out of my taxes. Thanks again for the help!

— Carson Fisher, Posted April 8th 2025 on google

Extremely helpful and timely in helping me prepare my taxes. They bring a wealth of knowledge and provide a friendly service.

— Jay Patel, Posted April 8th 2025 on google

This guyx̌s go way & beyond .. highly recommend them

— luis mercado, Posted April 7th 2025 on google

Braden is great as usual and always takes good care of us!!!

— Joshua Johnsen, Posted April 2nd 2025 on google

My work was trying to do something that I thought was borderline illegal. Then paramount looked into my situation and made sure I was safe from any audits and legal ramifications. Went back forth with some of the paramount's reps in like 14 emails about my concerns. Highly responsive and professional. I recommend them...

— Liam Cassell, Posted March 31st 2025 on google

Darrin provided excellent assistance with our questions and was prompt with filing.

— Mark Shepherd, Posted March 30th 2025 on google

These guys at Paramount are awesome! This is the only place to go for tax preparation. Look no further. I especially enjoyed working with Braden and Jon.

— Jim Moss, Posted March 4th 2025 on google

Have used Paramount Draper since 2017. Just finished 2024 taxes, Alex was awesome, he helped me with my business and personal return. He's sharp and capable. I have also corresponded with Paula, the admin, over the last several years and she is extremely prompt at responding to phone calls and emails. Thank you!

— Lisa Phillipps, Posted February 26th 2025 on google

Absolutely incredible working with the extraordinary men at Paramount Tax

— LeeAnn Fulton, Posted February 24th 2025 on google

Quick turnaround, easy to work with, and responsive.

— Aaron Chambers, Posted February 21st 2025 on google

Paramount was great because they were fast to turn around my return, they addressed my concerns and were very helpful through the process. I will use them again.

— James Gilman, Posted February 21st 2025 on google

Jon and Braden were super helpful! Made things a lot easier this tax season

— Cassie Johnsen, Posted February 21st 2025 on google

Don’t Leave Money Behind

Maximize your deductions and reduce your liabilities. Schedule with Paramount Tax & Accounting CPAs Draper today

Paramount Experience

Many people do not know how a professional tax firm differs from a tax preparer. The main difference when working with a professional tax and accountingbookkeeping firm, such as Paramount Tax & Accounting CPAs Draper, is that we know taxes!

Paramount has worked hard to create relationships to deliver the value that our clients expect. In fact, our goal is to be the No. 1 Succession Planning firm in Draper. So when you ask yourself, "Where can I find accountingbookkeeping services near me?"... think no further than Paramount Tax & Accounting CPAs Draper!

Free Consultation 801-890-4777

Upgrade to Tax & AccountingBookkeeping Firm

Whether you are filing personal taxes or you own a business, if you are not already using a professional tax and accountingbookkeeping firm, you have most likely already missed out on major tax benefits, deductions and credits. This is because a professional tax and accountingbookkeeping firm utilizes licensed professionals, who can not only advise individuals on personal financial matters but who are qualified to advise businesses, financial institutions, nonprofit organizations and government agencies on a wide range of financial topics. Our strict standards ensure that we understand the complicated tax laws and how to implement strategies that return the most benefits to individuals and businesses. Give Paramount Tax & Accounting CPAs Draper a call or visit our tax and accountingbookkeeping firm in Draper for a free consultation.

Individual Tax Preparation Business Tax Preparation