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Tax and Practical Aspects of Business Succession Planning

Gain a better understanding of how to preserve and protect enterprise value, common errors made in the process, and strategies for reducing taxes associated with business transitions.

Small & Medium Sized Enterprises ("SME") are where Americans create wealth. SMEs represent half of the U.S. GDP. By 2020, 70% of U.S. firms will be owned by persons 55 or older, half will be owned by persons over age 65. Very few of these owners know how to realize lasting wealth tied up in the Enterprise Value of their business at retirement. Many SME owners feel they are owned by their business, and cannot retire. Failure to plan for succession destroys wealth, it is that simple. It is hard enough to make a well-planned transition work, many still fail, without planning the chance of the business and the wealth it represents continuing are minimal. Business succession has become a national imperative, and creates enormous opportunities for qualified advisors to assist SME owners with both personal retirement and enterprise planning.

Runtime: 107 minutes
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Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Overview

Preparation

  • Owner's Goals
  • Understanding the Players
  • Dangers, Opportunities, Solutions (D.O.S.) Analysis
  • Interplay of Estate Planning and Business Succession

Solutions

  • Staging the Company
  • Cross Purchase Agreements
  • Employee Purchases
  • Sale to Intentional Grantor Trust

The Transaction - Taxation and Other Pitfalls

  • Assets Sale, or Stock Sale
  • Cash or Note

Preserving and Protecting Enterprise Value - After Transition

  • Asset Protection
  • Estate and Estate Tax Planning
  • A New Financial Reality
  • Perpetuating the Wealth in the Family
  • The Advisor's Role
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More Program Information

Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on July 23, 2018.

Call 1-866-352-9540 for further credit information.

  • Enrolled Agents 2.0
     
  • This program qualifies for 2.0 hours of Continuing Education Credit for enrolled agents under Treasury Department Circular #230 Section 10.6(g).
     

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • GA CLE 1.7
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.75
     
  • NJ CLE 2.0
     
  • NV CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 2.0
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.75
     
  • NJ CLE 2.0
     
  • NV CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 2.0
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Kevin D. Quinn, J.D.

Kevin D. Quinn, J.D.

Legacy Counsellors, P.C.

  • Founder and president of Legacy Counsellors, P.C., an estate and business planning law firm, serving successful individuals and families throughout the country
  • Accomplished Estate and Wealth Strategies PlannerŪ
  • Founder and an instructor of the Wealth Strategies Institute, LLC, a professional education institute which provides continuing education to Certified Public Accountants, Certified Financial Planners, attorneys, development officers and insurance professionals
  • Frequent speaker and has written numerous publications
  • J.D. degree, Western New England School of Law; M.B.A. degree, University of Connecticut; B.S. degree, Embry-Riddle Aeronautical University
  • Can be contacted at 413-527-0517 or [email protected]
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More Program Information

Why Lorman?

Over 31 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

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* For audio recordings you only pay shipping

Questions? Call 877-296-2169 to speak with a real person.

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Product ID: 401395
Published 2018
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