On August 24th, Briggs & Veselka, First State Bank and Duckett Bouligny & Collins sponsored a presentation on the tax, transition and financial considerations for the transition of closely-held businesses, the mainstay of the American economy.
This presentation discussed:
Understanding the value of advanced transition planning to achieve your personal and business strategies
Overview of transition options available to business owners
The expected and unexpected issues related to tax liabilities to ensure closely held businesses pay no more than their fair share of taxes related to a transition
The legal preparation that should take place now in anticipation of a transition even into the distant future
A panel discussion of lessons learned advising other closely held businesses
The event took place in El Campo, Texas at the Prasek’s Hillje Smokehouse Meeting Room.