Succession Planning for the Small Business Owner Webcast [BSP4]
Time: 12:30pm - 4:00pm
Subject:
TaxationCredit Hours:
4.00Price:
Member: $150.00
Non-member: $225.00
Discussion Leader:
Susan Smith, CPA
more info
Susan Smith manages her own firm specializing in tax planning for individuals and business owners and is also a frequent speaker at tax conferences. Smith was a Senior Manager in the tax departments of Price Waterhouse and Peat Marwick (the predecessor of KPMG). While at Price Waterhouse, she also held the national specialist designation for the real estate and partnership tax practices. During her time at Peat Marwick, Smith led the real estate and tax practices locally. She was an associate adjunct professor at Widener University in the master’s taxation program. Her ratings have consistently exceeded 4.8 on a scale of 5.0. Smith is a four-time recipient of the James L. McCoy Discussion Leader of the Year Award for excellence in teaching. And in 2015, 2016, and 2018, she received the Surgent Outstanding Discussion Leader Award because of her consistently high evaluations for knowledge and presentation skills. Smith earned her Bachelor of Business Administration degree with an accounting concentration, from the University of Toledo.
closeWebsite registration for this course closes on September 19, 2021. To register after this date please contact the society at akcpa@ak.net or 907-562-4334.
Full Description
Succession Planning for the Small Business Owner: Finding the Exit Ramp Webcast (BSP4)September 20th, 2021
The life cycle of the small business can be summed up in three segments: 1) starting the business; 2) operating the business; and 3) getting out of the business. This course focuses on getting out of the business. The most elusive element of owning a small business can be finding the proper exit strategy. This course is designed to provide the business consulting practitioner with tools and concepts to advise the small business owner and assist them in developing the right exit strategy. The course covers exit strategies related to third-party sales and succession planning within a family.
Major Topics Covered:
-How to find unrelated buyers of a business
-Maintaining control of the business succession process
-Turning over the reins to family members: when to give up control
-Finding the right team to sell a business
-Options for selling a business to an unrelated party
-Options for selling a business to family members
-Options for selling a business to employees
-Overcoming the emotional attachment to a business
-Selling to family members for a life annuity
-Using family partnerships and trusts to transfer a business
Learning Objectives:
-Understand the process of selling a business from finding a buyer to completing the sale
-Understand how business brokers operate and the fees that they charge
-Discuss the difference between selling the business and leaving the business: the transition period
-Protect the sellers interest in a seller-financed sale
-Understand how estate planning and family succession of a business interact
-Understand the use of discounts in transfers of ownership interests to family members
-Discuss when to turn over operations while maintaining control of a family business: drawing distributions from the business for retirement and receiving a step-up in basis at death
-Understand various structuring options for family business succession
Designed For: Practitioners with small business clients that will eventually sell that business to third parties or family members that need advice regarding exiting the business.
CPE Credits: 4, Taxation
Level of Knowledge: Intermediate
Prerequisite: A basic understanding of business entity types and taxation of sale of businesses.
Acronym: BSP4
Discussion Leader: Susan Smith, CPA
