CONTINUING EDUCATION FOR TAX & FINANCIAL PROFESSIONALS

Business Succession Planning – Never a Better Time to Address This

Icon_Webcast
Webcast
Icon_Level
Basic
Credits
CPE Credits
2 Credits: Taxes

Course Description

Aging baby boomers – Low values from business interruptions – Historically low interest rates. In bad times for many, a perfect storm of opportunity for addressing business succession planning with clients. This Course discusses the various issues and alternatives that arise with respect to succession planning for the owners of privately-held businesses. Gifting the business to family members is discussed. Are there suitable successors within the family? Will there be sufficient liquidity to address financial needs if the business interest is given away? What are the best tax planning alternatives for transferring a business? We will consider entering into a succession arrangement with fellow owners of the business. Concerns regarding entering into and structuring a buy-sell agreement will be reviewed. The alternative of selling the business to a third party will be explored, considering both the tax and non-tax issues that arise in this situation.

Learning Objectives

Upon completion of this course, participants will be able to:

  • Building a succession plan
  • Use tools and techniques for transferring the family business interest
  • Understand federal tax consequences
  • Understand valuing the business
  • Understand liquidity issues in succession planning

Course Specifics

Course ID
WC18206940
Revision Date
May 28, 2020
Prerequisites

None

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02090-22-O
IRS Federal Tax Law Credits: 2
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1457
CTEC Federal Tax Law Credits: 2

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registeration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board.

Course Instructor

Steven G. Siegel Headshot
Steven G. Siegel, JD, LLM

Steven G. Siegel, JD, LLM, is president of The Siegel Group, which provides consulting services to attorneys, accountants, business owners, family offices, and financial planners. Based in Morristown, New Jersey, the Group provides services throughout the United States. Steven is the author of many books, including: The Grantor Trust Answer Book (2018 CCH); The Adviser’s Guide to Financial and Estate Planning(AICPA 2019); Federal Fiduciary Income Taxation (Foxmoor 2019); and Federal Estate and Gift Tax (Foxmoor 2016). He is also a co-author with Richard Oshins, Esq. of The Anatomy of the Perfect Modern Trust, Estate Planning Magazine January and February 2016. In conjunction with numerous tax-planning lectures he has delivered …

Steven G. Siegel, JD, LLM Read More »

Business Succession Planning – Never a Better Time to Address This

Expert Instructors
CPE CREDITS
2 Credits: Taxes

$98.00


Webcasts are available for viewing Monday - Saturday, 8am - 8pm ET and Sunday 12pm - 4pm ET.
This webcast is 2 hours in length so you must start it before 06:00 pm ET.
Start within 6 hour(s) and 09 minutes to watch today.

Icon_Webcast
Webcast
Icon_Level
Basic
Credits
CPE Credits
2 Credits: Taxes

Course Description

Aging baby boomers – Low values from business interruptions – Historically low interest rates. In bad times for many, a perfect storm of opportunity for addressing business succession planning with clients. This Course discusses the various issues and alternatives that arise with respect to succession planning for the owners of privately-held businesses. Gifting the business to family members is discussed. Are there suitable successors within the family? Will there be sufficient liquidity to address financial needs if the business interest is given away? What are the best tax planning alternatives for transferring a business? We will consider entering into a succession arrangement with fellow owners of the business. Concerns regarding entering into and structuring a buy-sell agreement will be reviewed. The alternative of selling the business to a third party will be explored, considering both the tax and non-tax issues that arise in this situation.

Learning Objectives

Upon completion of this course, participants will be able to:

  • Building a succession plan
  • Use tools and techniques for transferring the family business interest
  • Understand federal tax consequences
  • Understand valuing the business
  • Understand liquidity issues in succession planning

Course Specifics

Course ID
WC18206940
Revision Date
May 28, 2020
Prerequisites

None

Advanced Preparation

None

Compliance information

NASBA Provider Number: 103220
IRS Provider Number: 0MYXB
IRS Course Number: 0MYXB-T-02090-22-O
IRS Federal Tax Law Credits: 2
CTEC Provider Number: 2071
CTEC Course Number: 2071-CE-1457
CTEC Federal Tax Law Credits: 2

CFP Notice: Not all courses that qualify for CFP® credit are registered by Western CPE. If a course does not have a CFP registeration number in the compliance section, the continuing education will need to be individually reported with the CFP Board. For more information on the reporting process, required documentation, processing fee, etc., contact the CFP Board.

Course Instructor

Steven G. Siegel Headshot
Steven G. Siegel, JD, LLM

Steven G. Siegel, JD, LLM, is president of The Siegel Group, which provides consulting services to attorneys, accountants, business owners, family offices, and financial planners. Based in Morristown, New Jersey, the Group provides services throughout the United States. Steven is the author of many books, including: The Grantor Trust Answer Book (2018 CCH); The Adviser’s Guide to Financial and Estate Planning(AICPA 2019); Federal Fiduciary Income Taxation (Foxmoor 2019); and Federal Estate and Gift Tax (Foxmoor 2016). He is also a co-author with Richard Oshins, Esq. of The Anatomy of the Perfect Modern Trust, Estate Planning Magazine January and February 2016. In conjunction with numerous tax-planning lectures he has delivered …

Steven G. Siegel, JD, LLM Read More »

Business Succession Planning – Never a Better Time to Address This

Expert Instructors
CPE CREDITS
2 Credits: Taxes

Webcasts are available for viewing Monday - Saturday, 8am - 8pm ET and Sunday 12pm - 4pm ET.
This webcast is 2 hours in length so you must start it before 06:00 pm ET.
Start within 6 hour(s) and 09 minutes to watch today.

$98.00