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Choice of Entity and Succession Planning: Tax and Non-Tax Issues

Date: Wednesday, March 21, 2018
Time: 1:00 - 2:40 pm EST

Sponsored by Lorman Education Services

Registration - Live Webinar Only: $219.00

Registration - Live Webinar Plus CD Recording: $288.00


Understand the tax advantages and disadvantages to better advise your clients and also learn how the new tax act impacts entity selection.

Successfully forming an exempt organization and filing for a federal income tax exemption is complicated. It involves understanding and navigation of both state and federal laws. The exempt organization portions of the Internal Revenue Code and corresponding Treasury Regulations are complex and intellectually dense.

This topic will provide a method of navigating the forms and the rules that will allow you to start filing these applications and to avoid common errors. You should gain a practical knowledge of entity selection and use when creating, operating or expanding a business.

In addition, you should gain a basic understanding of how to transition a business to family members and/or key employees or in the alternative getting ready to sell the business at its optimal value and providing an income stream post-ownership for retirement.

Learning Objectives:

  • You will be able to define choice of entity, pass through entities and business succession planning.
  • You will be able to describe when/if you should create a C corporation.
  • You will be able to discuss business entity selection following the implementation of the Tax Act of 2017.
  • You will be able to review business succession planning and how the changes in the income and estate tax environment affect succession planning.

This Live Webinar Covers These Hot Issues:

Choice of Entity

  • Effect of Tax Act of 2017 on Entity Selection
  • General Comments
    • Differing Objectives of Members of Business
  • Should I Create a C Corporation?
    • Corporation Basics
    • Should the Comparison to Flow Throughs Be Based on Immediate Distribution of Earnings?
  • 1202 Corps
  • Pass Through Entities
    • Partnerships
    • S Corps
    • Sec 199A
    • Comparison of Aggregate Rates
    • Should the Comparison of C Corps to Flow Throughs Be Based on Immediate
    Distributions of Earnings?
    • Partial Reinvestment to Accommodate Differing Objectives

Business Succession Planning

  • What Is Business Succession Planning?
    • Management Succession
    • Ownership Succession
    • Rules or Bylaws of the Family Business
    • Who Are the Players?
  • When Should Succession Planning Begin?
  • Understanding and Optimizing the Business Organizational Structure for Succession or Sale
    • Considerations Under the Tax Act of 2017
  • HR – the Often Missing Element
    • Key Employees (NonFamily Members Fill the Gap)
  • Importance of Insurance and Insurance Management
    • Another Cash Flow Demand Is It Worth It?
    • BuySell
  • Should You Consider Moving Your Business to Another State to Lower Taxation and
  • Transmit More Value?
  • Understanding Post Sale or Transition Effects on Cash Flow for Senior Generation
  • Getting Value to Spouses or Children Not in the Business
    • Spinoff of Real Estate Assets
    • Recapitalizations and Gifting
  • Getting Ownership to Junior Generation
  • What If the Junior Generation Fails? Can You Step Back in to Recover the Value of the Business?

Credit Information (Sponsored by Lorman Education Services)

  • CFP
  • CLE
  • CPE

For Detailed Credit Information page click here

Only registered attendee will receive continuing education credit.

Instructor Profile:

Kevin Carmichael, MS, JD, LLM, CPA, Wood, Buckel & Carmichael, PLLC

  • Tax Partner with the Naples office of Wood, Buckel & Carmichael, PLLC
  • Practice focuses primarily on matters concerning business entity and business succession law, federal and state taxation, international tax and tax controversy, not for profit law and tax and estate planning
  • Works with a number of businesses in the Construction, Tech and Real Estate industries on business, tax, structuring, governance, M&A and succession planning issues
  • Founding director of the Center for Great Apes in Wauchula Florida and recently stepped down as Chairman after serving for 12 years
  • Has a great deal of legal, accounting and governance experience as a director, officer and advisor of not for profit organizations
  • Served on the Board of Directors of the Association of Graduates of the United States Air Force Academy and the Board of Governors of the Florida Institute of Certified Public Accountants
  • Taught business law and cost accounting as an adjunct professor at Florida Gulf Coast University for 6 years; also taught Income Tax Law at Ave Maria Law School in the Spring of 2012, Corporate Tax in 2013 and Partnership Tax in the Spring of 2014, 2015 and 2016 and Exempt Organization tax law in the fall of 2014
  • Admitted to practice before the U.S. District Court for the Middle and Southern Districts of Florida, the U.S. Claims Court and the U.S. Tax Court
  • Certified Public Accountant and a member of the Florida Institute of Certified Public Accountants

(Not available outside the US)