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Event Description

The course will provide the CPA advisor with guidance in navigating the challenges faced by closely held business clients with succession planning and ownership changes.

Major Subjects

  • Impact of entity selection on business transition, i.e., Sale of Assets vs. Sale of Ownership (Stock, Partnership or Member Interest); Capital Gain vs. Ordinary Income
  • Importance of Buy/Sell Agreements, i.e., Funded vs. Unfunded; Retirement, Disability and Death; Inclusion of subsequent owners
  • Differentiate the significance of Inside/Outside Basis from Flow-through entities (Capital Accounts and Basis)
  • Considerations of Family Limited Liability Entity
  • Utilization of Tax-Free Corporate Divisions and Reorganizations
  • Considerations of Asset Allocations (Equipment and Furniture, Land and Building; Covenant Not Compete; Employment/Consulting Agreements; Goodwill)
  • Considerations of Gifting ownership to Family Members
  • Cash Sale vs. Installment Sale
  • Business Valuation Methods and Considerations

Discussion Leader

W McGough, CPA