Lessons from Connelly vs. US
What You'll Learn
Join CPA Larry Pon for an insightful and practical webinar designed to equip financial advisors WITH SMALL BUSINESS CLIENTS with the essential knowledge needed to effectively advise clients on business valuations and redemption agreements for closely held businesses. In light of the recent…
Tom Dickson
Financial Experts Network
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Join CPA Larry Pon for an insightful and practical webinar designed to equip financial advisors WITH SMALL BUSINESS CLIENTS with the essential knowledge needed to effectively advise clients on business valuations and redemption agreements for closely held businesses. In light of the recent Supreme Court ruling in Connelly vs. US, this session will delve into critical aspects of valuation, redemption agreements, and strategic planning for estate taxes.
Key Takeaways:
1. Understanding the Supreme Court Ruling:
A brief review of Connelly vs. US and its implications.
How the ruling affects the valuation of stock in closely held businesses.
Key insights on the obligation of an entity to buy a deceased equity owner’s shares and its impact on insurance proceeds.
2. Valuation of Closely Held Business Stock:
Best practices for accurate business valuations.
Common pitfalls and how to avoid them.
Strategies to ensure fair and defensible valuations for tax purposes.
3. Reviewing and Structuring Redemption Agreements:
The importance of regularly reviewing clients' redemption agreements.
Practical steps for structuring effective redemption agreements.
How to align redemption agreements with current legal and financial standards.
4. Planning for Estate Taxes with TCJA Expiration:
Implications of the TCJA expiration and lower estate exclusion thresholds.
Evaluating the need for life insurance to cover potential estate taxes.
Strategic advice for clients to safeguard their estate and business legacy.
*CE/CPE Eligible: 1 CE credit is available to FEN Members with these designations: CFP, CLU, ChFC and RICP. CPA members will earn 1 CPE credit.
Field of Study: Specialized Knowledge
Prerequisites: There are no prerequisites for this session.
Advanced Preparation: None
Program Level: Basic
Delivery Method: Group Internet Based
NASBA Approved
Financial Experts Network (Sponsor Id#: 145173) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.