Succession Planning and AccountingBookkeeping Firms in Irvine, CA

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 Irvine is essential to the survival of a family business from one generation to the next.

A Irvine 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 Irvine Central Professional Corporation 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 Irvine.

Irvine, CA tax preparation

Paramount Tax & Accounting CPAs Irvine Central Professional Corporation tax accountant

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Rakhi is genuine, responsive and committed to the success of her clients. She is a pleasure to work with and very bright, a great combination!

— Kelly Zinser, Posted January 29th 2025 on google

Rakhi is a rare find! She is analytical, systematic, thoughtful and responsive.

— S T, Posted January 28th 2025 on google

I highly recommend Rakhi for her work ethic, detail orientation and strong accounting skills.

— ERYN BILLINGS, Posted January 26th 2025 on google

What I found with her is not only her excellent skills but her character does not need laws to be lawful. I can trust her completely.

— Sande Jurik, Posted January 26th 2025 on google

I have known Rakhi for more than ten years. She is kind, patient and a great listener. These qualities will surely help her tax and accounting clients get great service.

— Karen Gauvreau, Posted January 26th 2025 on google

Rakhi is trustworthy and dedicated. I have no hesitation recommending her to potential tax and accounting clients.

— Bhavani Sankar, Posted January 25th 2025 on google

Rakhi is very good at what she does. She's intelligent, asks good questions and really focuses on understanding you & your needs.

— Zoriana Kilyk, Posted January 24th 2025 on google

I know Rakhi to be respectful, polite and hard-working. She will give nothing but the best tax and accounting advice to her clients.

— Sankar Krishnamurthy, Posted January 23rd 2025 on google

Trust and dedication are hard to find.Rakhi has both qualities.

— ROHIT DEWAN, Posted January 20th 2025 on google

Rakhi is helpful, competent, and responsive. She cares about the people she works with.

— Vedansh Dewan, Posted January 20th 2025 on google

Rakhi is very knowledgeable, responsible and committed to the success of her clients. Most of all, she is responsive. I know that I will have my questions answered and calls returned in a timely way. That goes very far with me.

— John Landon, Posted January 19th 2025 on google

Rakhi is a joy to work with. She is thorough, dedicated and trustworthy. She conveys information with clarity and answers questions so my mind is at ease.

— Patrik Lando, Posted January 18th 2025 on google

Great group of people to work with!!! Highly recommend Kelly! She’s very in tune with making sure you know and understand all of what’s going on with your taxes. She’s steers you in the right direction and wants to make sure your safe and won’t have issues. Will absolutely be using them again in the future!!!!

— Mitch Juhl, Posted March 21st 2022 on google

Thanks for taking the time for all my questions!

— Robyn Lowry, Posted February 12th 2022 on google

Great service!

— Clean again Services, Posted February 10th 2022 on google

Amazing experience!! Very professional and very fair! Could not ask for more!!

— nick lodick, Posted February 9th 2022 on google

Kelly is the best and can be trusted to complete your tax prep efficiently and accurately.

— Shelby Crowther, Posted February 9th 2022 on google

Kelly's been doing our taxes for years. Always great service.

— jake adams, Posted February 8th 2022 on google

Kelly always helps with all our questions and works around our busy schedules.

— Jessica Boose, Posted February 8th 2022 on google

Totally convenient when you can drop off paperwork and come back later! They're very friendly too!

— K G, Posted February 8th 2022 on google

Free 3-Year Tax Review

We review 3 years back to find errors / missed deductions.

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 Irvine Central Professional Corporation, 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 Irvine. So when you ask yourself, "Where can I find accountingbookkeeping services near me?"... think no further than Paramount Tax & Accounting CPAs Irvine Central Professional Corporation!

Free Consultation 949-664-8919

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 Irvine Central Professional Corporation a call or visit our tax and accountingbookkeeping firm in Irvine for a free consultation.

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