Negotiating Business Sales - The Right Way (with Pete Benenati)

P&L: Priorities & Lifestyle

Pete Benenati, founder of Benenati Law, brings over 30 years of experience to the current business transaction market. Pete represents both buyers and sellers and has learned over the years the best ways to make sure the deal works out smoothly for their clients, including a huge focus on tax planning throughout the entire process. Pete and I discussed the current business sales environment, how it’s changed over 30 years, and how current tax laws affect sales. We also talked about the best ways for business owners to negotiate their post-sale compensation, including salary, if they choose to continue to work after the sale. Finally, Pete and I covered the current and future estate laws, and the role they play in business selling strategies.

If you’re looking to gain some insight on the hugely complicated world of business buying and selling, make sure to tune in to this week’s episode of P&L.

Contact Pete at https://www.benenatilaw.com/

“When you're selling a business, you're focused on that number for the sale of the business. But you don't get into the weeds. I get into the weeds. I've been doing this over 30 years. I still learn to this day that things come up that you don't expect.” - Pete Benenati

This week on Priorities Lifestyle:

• Getting “Into The Weeds” Of Business Sales

• Maximizing Tax Efficiency When Selling A Business

• Tax Deferral Strategies To Minimize Penalties

• Negotiating Salary/Compensation After The Sale

• The Importance Of “Quality Of Earnings”

Our Favorite Quotes:

• "Only thing you can depend on is the cash you get at close. If that cash is not enough to make you happy, don't do the deal because you don't know if the other deals are going to work out." - Pete Benenati

• “The magic words in estate planning are ‘start early’. Start early.” - Rob Schulz

• "Everybody always thinks the prenup is about divorce. It really isn’t in second marriages. It really is about making sure we avoid conflicts with children of each marriage for the surviving spouse.” - Eric Wessinger

About Rob Schulz and P&L Priorities & LIfestyle Podcast

The P&L: Priorities & Lifestyle Podcast is a show for business owners. In each episode, host and financial planner Rob Schulz sits down with business owners and the professionals that serve them to talk about business building, life, money — and the all-important transition out of the business, which inevitably happens to everyone who has ever founded a company.

Email Rob at [e-mail] with questions and comments, or to schedule a one-on-one conversation.

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*You’re listening to P&L: Priorities & Lifestyle with your host Rob Schulz. Rob is the Founder and President of Schulz Wealth. All opinions expressed by Rob and his guests are solely their own opinions and do not reflect the opinions of Schulz Wealth. This podcast is for informational purposes only and should not be relied upon for investment decisions. Please refer to our website for more information: schulzwealth.com.