Small Business Educational Series - Business Succession Planning

Description

“Selling Your Business?  How Will it Impact Your Family & Strategies to Lower Your Tax Bill”

In Part II we will provide an overview of last month’s session on Buy-Sell Agreements which dictate how your business will transfer, and then move on to discussing what business owners need to know in order to minimize their tax bill upon the sale of their business.  Howard and Jim will share a variety of options and strategies for business owners to consider to meet their specific tax needs.  Additionally, they will address how successful business succession advisors work with business owners to prepare them, and their families, for the impact of sudden wealth and strategies for handling it.


Presenters: Howard Katz of Lincoln Financial Advisors, Clare Stefan of Lincoln Financial Advisors, Jim Kelly (CPA) of Kelley Sammons Armstrong Toole & Ellison, LLC
 

• Do you have enough to retire comfortably?
• What’s the taxation on the sale price or gifts or however you transferred
• Before you may not have had much investable, how the heck do you manage all this money for the long term? 
• Equalization with other children.
• What is the impact of my wealth on my family?
• Buffet: do the kids get so much they don’t have to do anything?
• What part of these assets is exposed to creditors, predators and divorce?
• Lower your tax bill on the sale of your business with a pre-sale and post-sale charitable contribution