Successful Transitions | Taking Charge of Your Business

Center for Private Business Owners

PKF O’Connor Davies offers private business owners like you comprehensive accounting, audit, tax and advisory services. Specialists in our Center for Private Business Owners employ a multi-disciplinary approach to addressing business, personal and generational priorities, allowing owners to focus on growing their business. We have been working with private business clients for generations and are proud of the growth we have helped them achieve.

In this issue of Successful Transitions, we share 10 powerful tips to guide you through succession planning for your business, relay five reasons to engage your business attorney and break down the benefits, protections and risks of establishing a defined benefit plan to help better manage the repurchase liability of your Employee Stock Ownership Plan (ESOP). Also learn about our economic outlook for 2024 and catch up on your reading with our Book Club recommendation for April.

Operating A Privately Held Business

Succession Planning with Support from Accountants and Business Attorneys

While business owners often rely on accountants, estate planners and trust counselors to guide them through estate planning, working with a knowledgeable business attorney is essential when creating a succession plan for your business. Read more >>

Intra-Family Transitions

Planning for the Succession of Your Business: Step by Step

It can seem overwhelming for business owners to think about succession planning. But not to worry. We’ve developed 10 powerful step-by-step tips to guide you through the process. Read more >>

Partner & Employee Succession Planning

Better Manage Your ESOP Repurchase Liability: Consider a Defined Benefit Pension Plan 

A defined benefit pension plan can be extremely effective in managing the repurchase liability of an Employee Stock Ownership Plan (ESOP). We unpack the benefits, protections and risks of a pension plan for your ESOP. Read more >>

The Outright Sale

M&A 2023 Recap and 2024 Outlook

Shedding the sluggishness of 2023, we see a rebound in mergers and acquisitions (M&A) in 2024. There are several reasons why we think this trend will continue, along with other increased activity that leaves us optimistic for the 2024 economic outlook. Read more >>

Book Club

The Family Business Guide: Everything You Need to Know to Manage Your Business from Legal Planning to Business Strategies (2010th Edition)

This book offers business owners a practical guide to the best and worst practices for family businesses — from drawing up incorporation documents to succession planning to selling the business. Author Frederick Lipman provides examples from actual court cases and sample legal agreements to help readers avoid some of the major risks to a family business. Find it here >>

Contact Us

Please let us know about specific topics you would like us to cover in future issues of Successful Transitions. If you have any questions, please contact your PKF O’Connor Davies client service team or either of the following:

Stephen Prostano, CPA, JD, LLM
PKF O’Connor Davies Family Office | 914.421.5615

Cynthia Adams Harrison, Ed. D., LICSW
Managing Director, Center for Private Business Owners
PKF O’Connor Davies Advisory Services | 914.575.2744