Succession Planning and AccountingBookkeeping Firms in Provo, UT

Name: Paramount Tax & Accounting CPAs Provo
Address: 288 W Center Street Suite 201, Provo, UT, 84601, US
Telephone: 801-515-3098
Rating: 5

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

A Provo 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 Provo 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 Provo.

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Hear Why Our Clients Love Us

Brian Springer

Emilie was fantastic!
Jinelle Barrow

Candie has helped me with my books for the last few years and is wonderful at giving me pointers on some issues I was stuck on! Paramount has been optimal in helping us ensure we are staying compliant and efficient with our business. They are worth their weight in gold! Thank you Candie & Paramount!
Dave Andrews

I cannot say enough about the incredible service I received by Darrin K. During one of the busiest times of the year — tax season — he was responsive, detailed, and genuinely invested in helping me clean up a complicated back tax situation. What blew me away was that another firm quoted me $18,000 more for what would have been far inferior service. He didn't just save me money — he gave me clarity, peace of mind, and a path forward. If you're looking for an accountant who actually cares about your outcome and treats you like a priority, look no further.
Edson Conceição

Good
Kevin Pena

Great service! They were very kind and responded to each of my questions. Highly recommended!
Tyler W

I've worked with several CPA's over the years and I was really impressed with Ashley and the team at Paramount. If you are looking for accounting or tax guidance in Utah county, highly recommend these guys!
Jenny Bullock

Quickbooks is like a different language to me, and Ashley was so patient with us and explained it in terms that we would understand. She listened to our needs and was so attentive and helpful.
Angel García

I cannot recommend Paramount Tax & Accounting enough! As a business owner, finding a CPA who actually understands the pace of entrepreneurship is rare. The onboarding process was incredibly easy and seamless, which I appreciated given how busy things can get. What stood out the most was their speed. They move much faster than any other CPAs I’ve worked with in the past, and their communication remained consistent throughout. Most importantly, they saved us a significant amount in taxes and provided proactive recommendations that have already made a tangible impact on our business strategy. If you want a firm that is responsive, fast, and actually looks out for your bottom line, this is the place.
D K

Meeting Ashley was a breath of fresh air. She was able to explain the process and the fees upfront. Wonderful demeanor and friendly attitude. I would recommend this company for any business.
gabriel farnese

Smart and helpful trying to help their customers to understand what their doing and what they can do to make their business or life better and easier when it comes to taxes and strategies for the next year!
Lindsey Dewitt

I would recommend them to anyone. So helpful and so nice. As a new business owner it’s hard navigating everything and I’ve received nothing short of the best service.
Parker Strong

Spoke with Ashley and she was incredibly knowledgable and friendly! Would absolutely recommend!
Brookklyn Huberty

paramount is the best! super supportive and helpful with all my questions.
Christel S

Ashley is helpful and knowledgeable. We appreciate her service and would recommend her to others.
Brittney Cochran

The team is very knowledgeable, kind, and professional. Their turnaround time for projects and questions is quick. We are new to running a small business, and the team is super patient with answering questions and helping us understand the correct way to track expenses, file sales tax, and keeping our books clean. 5stars!
Kim Bronk

I can't say enough good things about Paramount Tax & Accounting CPAs in Provo! We absolutely love working with them! We started using them over a year ago. We used to get so stressed about taxes and bookkeeping, but they've made the whole process easy and understandable. Their team takes time to explain things and answer all our questions without making us feel silly for asking. They handle both our small business and personal taxes. We were so impressed they also do our bookkeeping. They are well organized, professional and approachable. We've been impressed with how helpful and patient they are. We feel confident that our finances are in good hands and highly recommend them to anyone!
Vickie Walker

Just waiting to hear what the finale tax is
Whitney Howse

We have loved using paramount for our business and personal taxes these past couple of years, they make the whole process so smooth!
Lorrie Chavez

Prompt responses, extremely knowledgeable in anything tax and bookkeeping! Tremendously helpful in preparing me for tax season! Highly recommend
Mark E.

Ashley did a wonderful job explaining how I can plan for SSA to minimize tax consequences while staying 100% legal. Our taxes are complex and she is the best!

Don’t Leave Money Behind

Maximize your deductions and reduce your liabilities. Schedule with Paramount Tax & Accounting CPAs Provo 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 Provo, 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 Provo. So when you ask yourself, "Where can I find accountingbookkeeping services near me?"... think no further than Paramount Tax & Accounting CPAs Provo!

Free Consultation 801-515-3098

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 Provo a call or visit our tax and accountingbookkeeping firm in Provo for a free consultation.

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