The right approach to selling the business can help its owner live a full life in retirement, says business advisor Robert Martinelli. Read on to learn more.

SCOTTSDALE, ARIZONA, UNITED STATES, February 8, 2022 /EINPresswire.com/ -- Business owners who plan to make their business their retirement plan should keep reading this. Because, according to top business advisor Robert Martinelli, one must understand all options available before executing this plan.

Contrary to widespread belief, the business may not sell at a higher valuation than it is now simply because it has an established customer base and revenue. Yet the business seller can still enjoy an excellent return on their investment by exercising the right strategies, says Robert Martinelli, whose work is built around the transition from work to retirement.

For those who want to sell their business, there are many options. The owner can sell the company to an acquaintance or a relative. Another option is to sell it to its employees or an employee. Or it can be sold to any third party.

However, suppose it's sold to a relative. In that case, this may bring some unavoidable emotions and pressures, as there may be concerns about whether it will continue being a successful business as the selling party may expect it.

The reality is the newly sold business isn't guaranteed to generate a profit, even if the record of accomplishments and reputation preceding the company is stellar. So, it would help to accept that whether the family member ends up being profitable or not is beyond the seller's control and not their responsibility.

Whether to sell the company to a family member or another party, the true goal should be to ensure that the business sale will produce enough funds to support the expected lifestyle during retirement. To do this, some company owners attach the sales to a portion cash buyout along with a percentage of the profits over extended periods. Meanwhile, others accept a balloon payment later.

Figuring out which option would work best for a particular business can understandably be overwhelming, which is why one may want to enlist the help of a business advising service, such as Robert Martinelli Tax Planning. This service can give the business seller an objective look at the options available and spell out each option's tax consequences so that it doesn't compromise their retirement goals but instead help protect the business owner's retirement plan.

Robert Martinelli is the principal of Robert Martinelli Tax Planning, a conflict-free adviser who represents his clients on a fiduciary basis – putting his client's needs first. To learn more about his services, refer to his website: http://www.robertmartinellitaxplanning.com

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