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Family Owned Business
Accounting & Advisory

Trusted family owned business accounting services built around what matters most: protecting the business you’ve built and preparing it to thrive in the hands of the next generation. We help you navigate growth, taxes, and ownership transitions with an understanding that every financial decision can affect both the business and the family behind it.

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Family Owned Business
Accounting Services

Running a family-owned business means balancing financial decisions with family dynamics, expectations, and long-term goals. As your family owned business CPA, we bring technical expertise and practical guidance to the decisions that affect your business today and across generations.

 

Foundational Planning

  • Entity structure review and planning
  • Family payroll and compensation structuring
  • Related-party transaction review
  • Internal controls and financial systems

Growth & Protection

  • Multi-generational tax planning
  • Succession and shareholder planning for ownership transitions
  • Buy-sell agreement guidance
  • Business valuation for transition and estate planning
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Accounting That Protects Your Legacy

Building a family business is only half the work — keeping it healthy, fair, and ready for the next generation is the other half. We help you plan for the financial and ownership decisions that can shape the future of both your business and your family.

 

Family Business Enhancement

  • Ownership and leadership transition planning
  • Family governance and compensation planning
  • Tax-efficient wealth transfer strategies

A Partner for the Long Term

  • Hands-on succession and shareholder planning planning for complex ownership transitions 
  • Experience supporting business owners through changing financial and generational needs
  • Practical guidance that considers both family relationships and sound business decisions

We bring business tax planning and compliance together with trust and estate tax planning to help you prepare for both the company’s future and your family’s. Whether you’re bringing the next generation into leadership, transferring ownership, or preparing for an eventual sale, our team helps you move forward with a clear plan.

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How we protect your legacy at Patten and Co

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The Patten Advantage for Family Owned Businesses

The Patten Advantage

Protect the business your family built and prepare it for what’s next. We bring practical guidance, personal attention, and long-term perspective to the financial decisions that matter to your business and your family.

 

Benefits:

Generational Perspective

We understand that decisions in a family business can carry both financial and personal implications. Our team considers the bigger picture when helping you determine the right path forward.

Successful transitions require planning well before ownership or leadership changes hands. Our succession and shareholder planning services help you prepare for the financial, tax, and ownership considerations involved.

From compensation decisions to multi-generational tax planning, we help you identify tax strategies that support both the business and your family’s long-term goals.

Family businesses often plan in decades, not quarters. We take the same long-term view, getting to know your business, your family, and your goals as they evolve.

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Request a Consultation

Ready to talk through your family business needs? Connect with our team to discuss where you are today and what you’re planning for next.
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Frequently Asked Questions

Still have some questions?
Let us know how we can help you.
Why do I need a CPA who specializes in family owned businesses?

Family-owned businesses face financial decisions that often involve family considerations, from compensation and taxes to ownership transitions. A CPA experienced with family businesses can help you consider both sides when planning your next move.

Earlier is usually better. Starting succession and shareholder planning five to ten years before a planned transition gives you time to prepare future leaders, address tax implications, and make thoughtful decisions about ownership.

Compensation should consider each person’s role, responsibilities, experience, and appropriate market rates. We can help you structure compensation with both the business and its tax implications in mind.

A buy-sell agreement establishes how ownership may be handled when certain events affect an owner, such as retirement, incapacity, or death. Whether one is appropriate depends on your ownership structure and long-term plans.

A formal business valuation can establish a supportable value for purposes such as estate planning, buy-sell agreements, ownership transitions, or a potential sale.

There is no single structure that works for every family business. The right approach depends on factors such as ownership, tax considerations, growth plans, and future transitions. Our team can help you evaluate the options based on your circumstances.

We coordinate trust and estate tax planning and succession strategy to help families prepare for the transfer of business interests and wealth while considering the related tax implications. 

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