Wednesday, February 20, 2013 (6:00 PM - 8:00 PM)
Speakers: Glenn Anderson, Esq. of Miller, Miller & Canby, Eric Fletcher, CPA of Bond Beebe, and Robb Longman, Esq. of McMillan MetroOur panel discussion will cover the tax consequences of buying and selling a business. Eric Fletcher of Bond Beebe will walk through a commonly occurring fact pattern in which a successful family owned business is sold as the older generation of a family plans to retire but the younger generation is unable to keep the business going. Our panel will explain the tax consequences of the sale of a family owned business. The selling business also owns the large commercial building that houses the store and administrative offices of the businesses as well as a restaurant tenant. Seventy percent of the stock is owned by the family elder who inherited the company from his parents forty years ago. The other stockholders are the children of the majority shareholder. Glenn Anderson of Miller, Miller & Canby will discuss the difference between a stock sale and an asset sale. Mr. Anderson will lead the discussion on the various tax and liability issues to both the buyer and the seller. Robb Longman of McMillan Metro will proceed under the assumption that the structure will be an asset sale and will lead the discussion on ways to minimize the double taxation to the seller. Mr. Fletcher will take the lead on discussing planning opportunities for this sale had professionals been involved in advance.
27 West Jefferson Street
Rockville, MD 20850 United States
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