This course analyzes why family business succession plans (or the lack thereof) most often fail, identifies the precipitating downfalls and explores remedies to prevent them. A model(s) is presented for effective succession from one generation to the next. Particular emphasis is provided on how recent developments and estate and gift tax uncertainty on the immediate horizon may tip the balance. Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to firstname.lastname@example.org.
Basic questions to be addressed for effective succession planning, Developing a plan (step-by-step format), Recent developments worthy of attention and action, When to begin planning, how often to revisit an existing plan, Transfer and income tax considerations, Protection maneuvers against creditors, predators and in-laws, Capital structure devices: family partnerships, family LLCs, S corps, Direct lifetime vs. testamentary gifts, transfers and intra-family sales, Liquidity considerations, Symptoms of a plan in trouble, possible solutions, How CPAs may enter the succession planning fray to build their own businesses
The desire to learn
To learn the challenges and opportunities facing entrepreneurial business desiring to pass on within the family to a future generation(s) and approaches and tax breaks making it possible
Bradley P. Burnett is a tax accountant and attorney with an emphasis on tax planning and tax controversy. Prior to establishing a law firm in 1990, Burnett worked as a tax senior for a national CPA firm, tax manager for a local CPA firm, trust officer for a major bank, and managed the tax department as a partner in a medium-sized Denver law firm.
Burnett has delivered more than 650 presentations on tax law and tax planning to CPAs, attorneys, and civic groups throughout 46 states, Washington, D.C., and British Columbia. He has authored the texts of 12 full-day CLB/CPE courses, authored tax materials for Commerce Clearing House, and written various articles for tax journals and legal journals in the past 14 years.
After receiving his undergraduate degree in accounting and law degree, he earned a master’s in taxation from the University of Denver in 1984. Burnett has served as an adjunct professor at the University of Denver Graduate Tax Program.
Non-Member Price $159.00
Member Price $129.00