In this episode of TFE Talks, host Jordan Goewey welcomes Parker Baker as the pair dives into the critical process of corporate cleanups in preparation for a business sale. Parker explains that corporate cleanups involve ensuring all business documentation—from ownership records to tax filings—accurately reflects the company's current state. They also discuss common issues like incorrect shareholder documentation, the importance of having proper corporate and LLC records, and why businesses should proactively address these matters years before a potential sale. Key takeaways include the need to formalize vendor and customer agreements, secure key employees, verify tax compliance, and maintain comprehensive corporate minutes. The overarching message is that well-organized documentation not only makes a business more attractive to potential buyers but also prepares owners to capitalize on unexpected sale opportunities by having their corporate house in order. Don’t miss this great conversation.
In this episode of TFE Talks, host Jordan Goewey welcomes Parker Baker as the pair dives into the critical process of corporate cleanups in preparation for a business sale. Parker explains that corporate cleanups involve ensuring all business documentation—from ownership records to tax filings—accurately reflects the company's current state. They also discuss common issues like incorrect shareholder documentation, the importance of having proper corporate and LLC records, and why businesses should proactively address these matters years before a potential sale. Key takeaways include the need to formalize vendor and customer agreements, secure key employees, verify tax compliance, and maintain comprehensive corporate minutes. The overarching message is that well-organized documentation not only makes a business more attractive to potential buyers but also prepares owners to capitalize on unexpected sale opportunities by having their corporate house in order. Don’t miss this great conversation.
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TFE Talks: Navigating Wealth, Business, and Legacy is the official podcast from Thomas, Fisher & Edwards, a premier estate planning and business advising law firm in Greenville, South Carolina. Each episode, our attorneys break down complex legal topics—covering estate planning, business strategy, and legacy building—into clear, actionable insights. Whether you're refining a plan with our team or preparing for the future, this podcast serves as your go-to resource for thoughtful, strategic planning. Tune in for guidance that helps you protect what matters most. Learn more at www.tfelawfirm.com.
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