Personal Financial Planning

While it’s true that many of the primary areas of value attached to business valuations are present within business sales or business acquisitions being performed by the client in question, these are not the only settings in which business valuations are potentially valuable. Another key candidate, and one area where many people utilize business valuations, is within the realm of personal financial planning

At My Biz Value, we’re happy to offer the best business valuation solutions in the industry, ensuring that clients with a variety of needs have access to simple, affordable tools that help them gauge the value of their business or another. Why might a valuation of your business hold major value for your personal financial planning, as well? Here are a couple

Tax-Related Reasons

First and foremost, as many business owners can tell you, things often get a bit complicated for those in this position come tax time each year. It’s easy to accidentally run afoul of the IRS with regard to what you’re expected to disclose and how much you’re expected to pay.

Utilizing a business valuation tool through My Biz Value can help ensure that any disputes are quickly resolved, as well as making it easier for clients to identify areas in which they might be able to save. Such tools also make it easier for business owners to separate and classify relevant expenses, ensuring that they don’t end up paying undue amounts to the IRS.

Personal Financial Planning Reasons

Every business owner also needs a good financial plan in place for their own situation. While this is certainly true when it comes to factors like retirement or estate planning, it’s also true of small-scale issues like passing on the business to family members.

Utilizing a business valuation tool through My Biz Value can help out here as well, helping clients take the necessary steps towards making their business a viable and profitable part of their overall financial planning. By taking advantage of a tool like this, you’ll be able to ensure that all your bases are covered when it comes to your personal and business financial planning needs.

In short, a business valuation is not only useful for purposes related to business sales or acquisitions, but it can also be valuable as part of an individual or family’s bigger overall financial picture. In the modern world, where most people have at least some tie with the world of small businesses, this is an increasingly common scenario.

At My Biz Value, we’re dedicated to providing the best value possible with our business valuation tools and services, ensuring that this is a simple and affordable process for our clients. Contact us today to learn more about any of our tools or programs that are at your disposal.