Closely-Held Businesses

Helping closely-held and family-owned firms achieve strong, enduring business performance.

For you and your partners, business is personal. Whether you run a mom-and-pop, a midsize firm or a large corporation, your focus and energy are in offering your customers the products and services that express your values and purpose.

With all that’s already on your plate, bookkeeping, budgeting and forecasting, accounting, and taxes can get short shrift. That’s why you need CPAs on your team who can assist with these crucial tasks as well as provide expert guidance to keep your closely-held or family enterprise strong and growing from one generation to the next.

Managing Participation and Succession

As the senior executive for your business, you know it can be challenging to keep capable family and other staff members involved while minimizing internal conflicts. And if you plan to retire someday, you must also plan for the next generation to become involved in business management and operations.

Whether your goal is to maximize the value of your business for sale, or transfer the business to the next generation while minimizing estate and gift taxes, KRS can help you explore the options and formulate a plan to reach your goal, monitoring and reporting on your progress the entire time.

We are experienced with the unique challenges of managing successful family and closely-held businesses. That’s why many executives turn to our team as their trusted advisors for assistance with:

  • Formulating strategies to minimize income taxes
  • Setting clear rules and guidelines for participation in the enterprise
  • Offering fresh, strategic perspectives as an outside director or board advisor
  • Advising on outside and internal talent for board and key executive positions
  • Designing shareholder and buy-sell agreements to regulate ownership and the transition of power to the next generation
  • Establishing a charitable foundation to further your social goals

We Are Fluent in Family-Owned and Closely-Held Businesses

If you’re not working with accountants who are proactive, trusted advisors who understand the challenges faced by multi-generational businesses, then maybe it’s time to give us a call for an initial complementary consultation.

'KRS knows the way we operate and has a good feel for our family. As an LLC, we have a large tax liability. KRS stays on top of this for us.'

Services for Closely-Held & Family-Owned Businesses

  • Accounting
  • Assurance
  • Budgeting & Forecasting
  • Bookkeeping & Cash Flow Analysis
  • Sales Tax Issues
  • Controller & CFO Services
  • Individual and Business Tax Planning, Preparation & Compliance
  • Governance & Succession Planning
  • Business Valuation & Litigation Support
  • Shareholder & Buy/Sell Agreements
  • Estate & Gift Valuation
  • Trust & Estate Administration