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Surgent's A Complete Tax Guide to Exit Planning

Friday, December 20
 10:00am - 12:00pm

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2.00 Credits

Member Price $119.00

Non-Member Price $154.00

Overview

When exit planning, it is important to weigh various issues, including tax implications, to achieve an effective management and/or ownership change. Many envision tax-free reorganizations being the most preferable structure to avoid capital gains tax, but the opportunities come at a cost to the seller. This course will provide a well-rounded discussion of the various strategies to consider when advising on exiting a business.

Objectives

  • Understand key issues regarding exit planning
  • Discuss tax implications of exit planning strategies
  • Compare exit planning between entity types (C corporations, S corporations, partnerships, etc.)

Highlights

  • Gain exclusion and tax-free reorganization planning
  • Gain exclusion with sales of C corporation stock – Section 1202
  • Deferral of gain with installment reporting
  • Gain planning with partnerships
  • Basis planning – basis step-up at death, gifts of interests to family
  • Restructuring the business entity – C vs. S corporation, partnerships, LLCs
  • Real estate planning – retention vs sales, like-kind exchanges
  • Employee stock ownership plans – special tax incentives
  • Employee benefit planning with ownership change
  • Taxes other than the federal income tax – state tax, estate, gift and generation-skipping taxes, and property taxes
  • Prospects for tax law change

Designed For

CPAs in industry and public accounting who want to gain an understanding of exit planning considerations for their clients

Prerequisites

Basic knowledge of tax issues and entity structures

Preparation

None

Notice

To access this program, log into your CTCPA account at https://www.ctcpas.org/my-cpe/upcoming and click on the orange “Launch Event” button.

Leader(s):

Leader Bios

Robert Lickwar Jr., Partner, UHY Advisors, NE, LLC

Bob has over 30 years of experience as a practicing CPA, andhas worked exclusively with privately held businesses and owners to provide compliance services and sophisticated tax planning strategies including like-kind exchanges, tax-efficient workouts and restructurings, reorganizations and estate planning services. Bob is also a nationally recognized presenter on various tax issues and is a well-known discussion leader providing continuing education seminars to tax professionals. PROFESSIONAL EXPERIENCE: •Extensive experience in dealing with tax authorities at both the federal and state levels •Develops tax-favored and other retirement plans for clients •Assists in developing tax efficient succession transitions, including acquisitions and sales of businesses •Expertise in the taxation of small businesses and their owners, specializing in many areas of domestic taxation, including real estate, multi-state, business and individual taxation BACKGROUND: •Licensed CPA in the state of Connecticut •M.S. in Taxation, University of Hartford •B.S. in Accounting, Central Connecticut State University THOUGHT LEADERSHIP: •Nationally recognized presenter on Federal and State Taxation issues •Quoted in “Everything to Know About the New $3,000 Child Tax Credit”, U.S. News & World Report, March 2021 •Moderated “The CARES Act and Its Impact on Your Business and Benefit Plans”, UHY Webinar, February 2021 •Quoted in “IRS backlog causing problems for taxpayers”, Marketplace, February 2021 •Quoted in “IRS Rule Would Make Managing Trusts, Estates More Efficient”, Bloomberg Tax, May 2020 •Speaker for Berlin Continuing Adult Education small business seminars •Speaker for Farmington Continuing Adult Education small business seminars •Local radio station tax expert guest •Received the Author Award from the Connecticut Society of CPA’s State Tax Committee •Articles featured in the Taxation for Accountants, The Journal of Accountancy, and local newspapers

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Non-Member Price $154.00

Member Price $119.00