July 21, 2021 12:30pm – 4:00pm Map & Directions 602-252-4144

Webcast: Succession Planning for the Small Business Owner: Finding the Exit Ramp (12:30-4)

Online registrations are currently closed, please call (602) 324-6847 for additional registration options

Description

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.

Location

ASCPA Live Online Webcast
Phoenix, AZ 85034-6617

Registration Time

12:00pm

Fees

Member:
$160
Non-CPA Staff:
$210
Non-CPA Staff (100% club):
$160
Non-CPA Staff (sole proprietor):
$160
Non-Member:
$210
Webcast
Taxation
4

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 seller's 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.

Course Level

Intermediate

Vendor

Surgent McCoy CPE, LLC More With This Vendor

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.

Prerequisites

A basic understanding of business entity types and taxation of sales of businesses.

Event Leaders

Taylor, William F

Rating: 4.66


William (Bill) F. Taylor is president of Benefit Solutions, Ltd., a benefit consulting firm and a CPA in private practice. Since retiring as Community Bank President of Renasant Bank in Water Valley, MS, he has served as an adjunct assistant professor in the MBA program at the University of Mississippi. Taylor has worked in the employee benefit and investment fields for over 30 years, beginning his career as the Employee Benefits Coordinator in the Jackson, MS, office of KPMG Peat Marwick and managing his own firm since 1999.

A nationally known consultant and speaker, Taylor has conducted seminars for the American Society of Pension Professionals and Actuaries, more than 40 state CPA and Bar associations and other organizations. He was the recipient of the James L. McCoy Excellence in Education award for 2015 and awarded the Outstanding Discussion Leader award for 2014 and 2016. Taylor is the author of Taxation of Employee Benefits Volume I and Volume II, and his articles have appeared in numerous publications.


More With Taylor, William F

Highlights

  • 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.

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