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1. Do you have a clear plan for taking money out of your company without paying more tax than necessary?
2. Is your business structured so your shares qualify for the $1.25 million tax-free capital gains exemption?
3. Do you have a plan to grow surplus cash inside your company without triggering tax problems?
4. Have you protected your business financially if a key employee or partner becomes sick or passes away?
5. Could you maintain your lifestyle if your business stopped generating income tomorrow?
6. Have you tested how your financial plan would hold up under unexpected events like bankruptcy, divorce, or economic downturns?
7. Do you have a business succession plan (even if you're not selling soon)?
8. Have you reviewed your will and Power of Attorney recently to make sure they still reflect your business and family situation?
9. Do you offer any benefit plans or incentives designed to keep your key employees tied to the business long-term?
10. Are your investments generating the returns you expected or need to reach your goals?
11. Are you investing your depreciation reserve each year, so you have the funds to replace aging equipment when needed?
12. Do you review your full financial picture (personal + business) at least once a year?