The purpose of this course is to enable the CPA to advise the closely held business owner on special estate-planning problems and opportunities. The focus of this course is on the transfer of wealth, liquidity, and business continuation.
- Transferring the closely held business interest to family members -- Gift strategies, sales techniques, and recapitalizations
- Lowering gift tax costs by use of GRATs and GRUTs
- A comprehensive income and estate tax analysis in choosing and implementing buy-sell agreements for corporations, partnerships, and LLCs
- Use of family partnerships and family S corporations, including gift tax ideas and income tax planning
- Limitations on the ability to freeze the value of a closely held business
- How to value the closely held business for gift and estate tax purposes, including minority and marketability discounts
- Special valuation issues for real estate and farms under §2032A
- Tax issues affecting the disposition and distribution of partnership and LLC interests
- Use gift strategies, sales techniques, and recapitalizations to transfer the closely held business interest to family members in a transfer-tax efficient manner
- Value the closely held business interest for gift and estate tax purposes, including consideration of factors as minority and marketability discounts
- Identify the advantages and disadvantages of special use valuation under §2032A
- Choose and implement the buy-sell agreements for corporations, partnerships, and LLCs that best address income and transfer tax planning issues
- Identify and resolve tax issues affecting the disposition and distribution of partnership and LLC interests as well as family limited partnerships
Who should take this course:
CPAs practicing in the closely held business market where the key issues center on estate tax minimization, liquidity facilitation, and entity continuation.