Donald Swick – Brickley DeLong

01

Donald Swick In News

2017 – 06/07 – Business owners: Put your successor in a position to succeed

Transitioning your company to a successor means becoming a mentor. As such, you’ll have to communicate clearly, be patient and know what you’re trying to accomplish. For starters, identify various ways to pass along your knowledge. Consider, for instance, a formal training program. Have your successor work in each business department or area. Also, encourage him or her to join trade associations and network with executives in your industry and others. Please contact our firm for more help maximizing the effectiveness of your succession plan.

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02

Donald Swick In News

2017 – 07/03 – Keep real estate separate from your business’s corporate assets to save tax

Many businesses operate as C corporations so they can buy and hold real estate just as they do equipment, inventory and other assets. But this can be a costly mistake: If the real estate is sold, any profit is subject to double taxation, first at the corporate level and then at the owner’s individual level on distributions. If real estate is held instead in a pass-through entity, such as a limited liability company (LLC), and then leased to the corporation, profit on a sale of the property is taxed only once, at the individual level. Contact us for details.

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03

Donald Swick In News

2017 – 07/17 – 3 midyear tax planning strategies for business

It’s unclear whether tax reform will be passed this year, so let’s look at three midyear business tax strategies inspired by the last major tax law, the PATH Act of 2015: 1) Buy equipment. The PATH Act preserved generous limits for the Section 179 expensing election and the availability of bonus depreciation. 2) Ramp up research. After years of uncertainty, the PATH Act made the research credit permanent. 3) Hire workers from “target groups.” The PATH Act extended the Work Opportunity credit for such hires through 2019. Contact us for details on these breaks.

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04

Donald Swick In News

2017 – 06/07 – Business owners: Put your successor in a position to succeed

Transitioning your company to a successor means becoming a mentor. As such, you’ll have to communicate clearly, be patient and know what you’re trying to accomplish. For starters, identify various ways to pass along your knowledge. Consider, for instance, a formal training program. Have your successor work in each business department or area. Also, encourage him or her to join trade associations and network with executives in your industry and others. Please contact our firm for more help maximizing the effectiveness of your succession plan.

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05

Donald Swick In News

Could stronger governance benefit your business?

Every company has at least one owner. And, in many cases, there exists leadership down through the organizational chart. But not every business has strong governance. In a nutshell, governance is the set of rules, practices and processes by which a company is directed and controlled. Strengthening it can help ensure productivity, reduce legal risks and, when the time comes, ease ownership transitions.

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06

Donald Swick In News

Getting your money’s worth out of a company retreat

Company retreats can cost enormous amounts of time and money. Are they worth it? Sometimes. Large-scale get-togethers can involve considerable out-of-pocket costs. And if the retreat is poorly planned or executed, participants’ wasted time is the biggest expense. But a properly budgeted, planned and executed retreat can be hugely profitable, producing fresh ideas, renewed enthusiasm and heightened employee morale.

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