Newspaper Archive of
Heritage Florida Jewish News
Fern Park , Florida
Lyft
October 22, 2004     Heritage Florida Jewish News
PAGE 22     (22 of 28 available)        PREVIOUS     NEXT      Full Size Image
 
PAGE 22     (22 of 28 available)        PREVIOUS     NEXT      Full Size Image
October 22, 2004
 

Newspaper Archive of Heritage Florida Jewish News produced by SmallTownPapers, Inc.
Website © 2020. All content copyrighted. Copyright Information.     Terms Of Use.     Request Content Removal.




PAGE 2B HERITAGE FLORIDA JEWISH NEWS, Glickstein, Laval, Carris, Levitt, Loomis & Dantuma CERTIFIED PUBLIC ACCOUNTANTS PROFESSIONAL SERVICES PROVIDED IN THE AREAS OF: TAX PLANNING AND PREPARATION FOR INDIVIDUALS, PARTNERSHIPS, CORPORATIONS, TRUSTS AND ESTATES --ACCOUNTING AND AUDITING SERVICES-- --MANAGEMENT CONSULTING SERVICES-- MORTGAGE COMPANIES, NOT-FOR-PROFIT, CONDOMINIUM AND HOMEOWNER ASSOCIATIONS QUICKBOOKS CONSULTING cSero/nj7 Cen/ralC lCor/oga cSinee 19zJ 850 CONCOURSE PKWY, STE 150, MAITLAND, FL 32751 PHONE (407) 645-4775 FAX (407) 629-1606 I You want a realtor who will put your needs first. You will never feel pressured You want a realtor with expertise in a changing marhet Seniors Real Estate Specialists assisting seniors through difficult transitions THE FRIEDMAN GROUP RULTORS Ash about our special listing programs Barbara C. Friedman, P.A. Jeffrey Friedman Realtorse, SRE$ Call: Direct (407) 222-6059 Office (4O7) 69S-2066 wwwJ:riedmanGraup.org Town and Country Realty Each office is independently owned and operated Can rising interest rates be hazardous to your portfolio's performance? Find out how you can position yourself in arising-rate environment. Topics to be discussed: 2004-2005 Forecast Rising Rates and Asset Allocation Key market themes Appropriate investment strategies given How the Firm can help you pursue your today's environment investment goals Join us at our free seminar: Monday, November 15, 7:00 p.m. Citrus Club" 255 South Orange Avenue,18th Floor Citrus Center, Orlando Cocktails and hors d'oeuvres will be served. Speakers: Gary Gordon Chief U.S. Equity Strategiest UBS Securities LLC Michael R Ryan, CFA Chief Fixed Income Strategist Wealth Management USA Even if you cannot attend the us to review your portfolio and help pursue your investment goals in this Parking will be available. For reservations, call: 407-425-4600 800-432-1048 seminar, now may be a good time for assure that you are positioned to market environment. 111 North Orange Avenue, Suite 1300, Orlando, FL 32801 UBS Financial Services Inc. 02004 UBS Financial Services Inc All Rights Reserved Member SIP(: UBS By Robbin Brophy that is presented in the finan- inventory items, cial statement reports being chart of a Small businesses often fail printed, in Q~ within their first two years A professional, such as a data file of existence due to poor re- QuickBooks Certified Pro Once datahave cord keeping. Many owners Advisor, may be helpful in into an become frustrated by the . assisting the small business been entered enormous task of keepingac- owner set UP the data file and ventory item, those curate accounting records.A the chart of accounts, and in or items cannot systemsuchasQuickBooks providing start-up and ongo- they can only be canprovidemeaningfulinfor- ingtrainingtoenablethebusi- Oftenit mationtohelpanewbusiness hess to run more efficiently, create a new data be successful and continue The successful result should ing beginning operating, be an efficient system whose im QuickBooks offers many dailyinputofaccountingdata lists such as reports that provide valuable providescurrentandaccurate employees management information, reportson the healthofyour Consultin such as determining if price business.TheProAdvisorcan tax advisor or levelsshouldbeincreaseddue offer advice onwhich reports concerning the to anincreaseincostofgoods provide the type of data you of your sold or if overhead is too high need in order to determine and computerized for a specific industry. These whether you are making a avaluableste reports can be printed on a profit, future of your regular basis. In many cases, The Pro Advisor may also Robbin Brophy making changes to the chart provide information on the consultant with ofaccountssetupcanimprove health of the data file since Reponen, Ornsteia the qualityofthe information the use of too manyitems (i.e P.A CPA's. By Jason K. Chepenik, CFP,RFC, Chepenik Fi- nancial Services, in conjunc- tion with Lincoln Financial Advisors, a registered invest- ment advisor If you own a family busi- ness, chances are you expect your children to eventually succeed you in owning and running the business. And as a parent, you probably want your estate divided among your children as equally as possible upon your death. But what happens if not all your children are active in the company? It makes sense to leave the business to the child or children who are capable of managing it. That leaves you with a big challenge: how to balance the distribution of your as- sets so your other children get their fair share. One ob- vious solution would be to leave non-business assets of equal value to the children who are uninvolved in the company. But if the family business comprises the bulk of your estate, there won't be enough assets outside of the business to give everyone an equal share, especially after paying estate taxes. Strategies There are a number of plan- ning techniques that you can in an, use to equalize inheritances among your children: Life Insurance. By pur- chasing life insurance, you can provide a ready source of cash to buy assets from, or make loans to, the estate and provide for those chil- dren who won't inherit the business. Placing the insur- ance in an irrevocable life insurance trust can keep the proceeds out of your taxable estate, if the trust is properly structured. The trustee could then be directed to distribute cash from the trust to the chil- dren who are inactive in the business. Buy-Sell Agreements. An- other way to raise cash is to arrange for the sale of a part of your business in the event of your death or disability. Through proper structuring of a business redemption or cross-purchase agreement - two types of buy-sell agree- ments - you can create a mar- ket for your business. While there are several ways to fund these agreements, many busi- nesses and individuals use life insurance. Leasing Business Assets. Another strategy is to leave real estate or other business property to the children who don't participate in the corn- pany. The rental stream from the lease provides the cash to balance out the among the agreement should ized to ensure rental flow. lease should be preparing your And be sure fair market value. Providing ing a part of the to your children v involved with it, ing their power, also equalize instance, you can nonvoting preferred stock, ing common partnership intel other equity fortunately, you exposing them the business. Providing children is never a especiall asset is the The child q receive the busine : ly have a favored by reviewing the tionswith, tax advisors, you an eq~ all your children. representative nancial Advisors By David E. Ritt There are many decisions you make that require the as- sistance and skills of a trusted professional. The most intricate, in- volved, binding financial decision you may make--the buying or selling of, a busi- ness-is often made without using the skills of a business (broker) intermediary. This almost always results in an unsatisfactory conclusion for buyer and seller. How the business interme- diary will help you succeed: Working out the offering price with the seller Rigidly qualifying the prospective buyer Preparing a marketing strategy and using knowledge Do you of the market for the business market? Negotiating profession- Are you set allytofindandcreate"doable" business or financing and an acceptable different structure for both buyer and Have you set seller, tal commil Providing structure for Do you tel both buyer and seller,there are no Working with both the success? buyer's and seller's profes- Are you sional advisors in yourself? Assisting the buyer in These are dealing with the seller's siderations that landlord in drafting a new discussed in lease and with dealing with dence with an financing and government ethical I agencies for licensing and intermediary. permitting David E. Ritt is d Questions for the buyer: real estate Why are you consider- Ferrari ing investing in your own Brokers in business? Springs.