Transferring or Exiting the Business [TOEB Anc]

Full Description

Transferring or Exiting the Business

August 24, 2012

Location:
Alaska Society of CPAs
341 West Tudor Rd. #105
Anchorage, Alaska

$295 Member Fee
$445 Non Member Fee

Many business owners want to retire and transfer their business to either family members or key employees. This course will explore various options an owner of a business can use to transfer part of, or their entire ownership interest. Explore the advantages and disadvantages of each option, note the issues to consider, and the pitfalls to avoid.

Learning Objectives:
Highlight the basics of valuing a closely held business
Summarize the estate tax rules affecting businesses, especially Code Section 2703
List the ways business owners can transfer their businesses to their children
Explain the key points to consider in succession planning
List the advantages of a shareholder agreement
Explain the estate tax deferral rules of Code Section 6166 and the planning opportunities
Note the tax rules governing stock redemption
Summarize the tax rules governing corporate liquidations
Note the section 355 rules on spin-offs and split ups
Highlight the advantages and disadvantages of selling stock to an ESOP
Describe the advantages and disadvantages of selling the business to a third party
Highlight planning for life after retirement

Who Will Benefit:
CPAs
Level of Knowledge: Basic to Intermediate
Prerequisite: None
Advanced Preparation: None
Credits: 8
Field of Study: Tax
Acronym: TOEB
Discussion Leader: Dennis J. Gerschick, CFP, CPA, PFS, J.D.
Dennis is an attorney, CPA, Chartered Financial Analyst and Venture Capitalist. Dennis earned his degree from Florida Atlantic University and worked for Ernst and Young before attending law school. After graduating from Drake University Law School in 1983 he worked in the tax department of Powell, Goldstein, LLP. In addition to speaking at seminars, he provides financial, business and investment advice to individuals and companies through Gerschick Wealth Management, LLC. Mr. Gerschick has served the AICPAs Business Valuation Subcommittee where he worked with some of the countrys recognized experts in the business valuation area

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