Part 3: Business Succession Planning After the American Taxpayer Relief Act of 2012

Originally aired 10/31/13

Seminar recording | Presentation materials | Outline

One of the most difficult planning issues to address with a successful entrepreneur is what should be done with the business that person created and developed in the course of a career. There is often a reluctance to do anything. Succession planning is an area of concern too often put off by the persons who most need to address it. Planners need to understand the many options available for succession planning, both from a tax and non-tax perspective.

In this web seminar, Steve Siegel will lead practitioners through a discussion on how to:

  • Evaluate the viability of gifting one’s family business interest to family members in light of the federal gift tax rules.
  • Determine if gifting the business to family members will leave sufficient liquidity within the family for ongoing support and eventual federal estate taxes, and what planning techniques can be used to improve this situation.
  • Address the different varieties of buy-sell agreements with third parties, and advise clients as to the many issues and decisions that must be taken into account in structuring an appropriate agreement.
  • Describe the various tax issues that arise when buying or selling a business, including distinguishing the tax consequences arising from the sale of the assets of the business and the sale of stock of the business.