Taxes and Business Succession Planning
Webinar will explore the implications of succession planning on families, including family businesses, and will highlight and discuss a number of often overlooked considerations
Business owners are regularly in need of succession planning guidance, and tax laws are continually changing. Owners have usually heard of the capital gains exemption available on the sale of small business shares, but rarely understand the advanced planning that may be necessary to be able to use it. Estate freezes often accompany such planning, and can come in many forms, each bearing its own unique set of risks, considerations and complexities. Likewise, business succession plans overall require a careful weighing of several separate factors including tax, business and family circumstances.
Join David Piccolo and Bobby Solhi of Tax Chambers LLP for a practical analysis of the complexities of succession planning. This webinar will explore the implications of succession planning on families, including family businesses, and will highlight and discuss a number of often overlooked considerations, such as valuation and common tax traps.
More specifically, topics covered will include:
- Asset v. Share Sale - tax considerations
- Crystalizing the LCGE
- Freezes and the use of rollovers (s. 51, 85, 86)
- Dividend planning
- Share terms and classes
- Valuation issues
- S. 84.1 issues
- S. 55 issues
This webinar will be of most relevance to accountants, tax practitioners and lawyers practicing independently or in small to medium firms, and may also be of interest to financial advisors or family wealth management offices.
Professional Development Credits
Wolters Kluwer professional development programs are designed to meet the continuing education requirements of a variety of professional associations. These requirements do vary by association and region. Please consult your provincial association to ensure this webinar meets the continuing professional development standards for your specific situation.