Proactive estate planning for entrepreneurs is as pressing as any other aspect of operating and growing your business. Active owner-operators are encouraged to attend this session to explore best practices for planning to ensure a legacy and minimize taxes. Additionally, we will explore some of the most significant pitfalls of failing to plan. Topics will address ideas for active businesses that plan to continue indefinitely as well as proactive tax strategies that can mitigate income and wealth transfer taxes for those who foresee the idyllic liquidity events associated with a sale in the future.
After completing this session, participants will be able to:
Explain how estate planning ties to the security of your business
Identify ways to protect the business and your heirs
Identify how to mitigate income, gift, estate, and generation-skipping transfer taxes with a future sale
Explore best practices for businesses that might sell, whether in the near-term or years from now
Bonus content: Tax law updates relating to estate taxes and retirement account planning