Event Calendar

Thursday, March 10, 2022

Business Succession and Preparing for New Tax Proposals: Assuring the Successful Continuation of Your Company - Virtual

Start Date: 3/10/2022 10:00 AM CST
End Date: 3/10/2022 11:15 AM CST

Venue Name: Live Virtual Course - Zoom


Organization Name: MCA Affiliate Alliance

Contact:
Jacki Conn
Email: jconn@mcakc.org
Phone: (913) 948-9200

Business Succession and Preparing for New Tax Proposals:  Assuring the Successful Continuation of Your Company

Live Webinar Via Zoom

In understandable language, MCA business owner members will learn about proposed tax law changes that could have a direct impact on their overall wealth. In addition, there will be discussion surrounding vital strategies in the areas of business succession and wealth preservation as well as eventual transition of assets (with special focus on the business).
 
Typically, the more successful business owners become, they also become more vulnerable. Accordingly, techniques will be discussed showing how to combat those vulnerabilities and assure that the business remains ongoingly successful!
 
Among the areas of focus will be why profitable businesses ultimately fail, the importance of business owners coordinating business succession plans with estate plans, addressing active vs. inactive children within a family business (does it make sense to leave the business and related businesses to all your children?), liquidity issues, valuation methodologies that will satisfy the IRS while lowering the tax bill, the proper type of buy-sell agreement that allows for maximum tax savings/cost efficiency and frequent insurance funding mistakes that oftentimes result in massive tax liabilities that could have been legally avoided.
 
The session concludes by tying in many of the areas of the seminar discussion into a compelling real life family business case! 
 
This session drives home the point that as a MCAKC business owner, when it comes to business succession and estate planning, you must know more than you have ‘something in place’ and realize that the specifics of the plan directly correlate to the success and outcome of your plan.
 
Special attention will be given to the recent proposed changes to the federal estate tax law and capital gains tax, the adverse impact it creates for business owners, and how to combat the change!

Cost: FREE to employees of Signatory Contractors and Associate Members.

Program hosted by the MCA Affiliate Alliance.

Instructors

Leon B. Resnick
and Terrance K. Resnick, identical twins, are partners in Resnick Associates / Resnick Succession Group, a nationally recognized business succession, estate planning, and life insurance advisory and implementation planning firm with offices in Kansas City and Philadelphia.
 
The Resnick brothers have spoken before and worked extensively with over 250 trade Associations and their business owner members individually. Coca-Cola has also had the Resnick’s present to their privately owned bottling company owners. The firm has written and been interviewed for many articles in business magazines, newspapers, and trade journals on the topics of business succession, estate planning, and proper due diligence and acquisition of life insurance for the privately held business owner.  Lee and Terry have been featured in Nation’s Business, as well as in the book, Streetwise Marketing Plan. The firm is also a co-founder of the Elizabethtown College Family Business Center in Elizabethtown, Pennsylvania, one of the largest college-based family business centers in the United States.