Event Details

Why Business Owners Should Review Their Buy-Sell Agreements Now

In Thomas Connelly v. United States​ in the U.S. Court of Appeals for the Eighth Circuit, the IRS successfully argued that the value of the company for estate tax​ purposes was $3.5 million more than the amount agreed to be paid in the buy-sell agreement. In other words, the seller was taxed for estate tax purposes for a value of $3.5 million more than was received in the sale. This is a net cost of almost $1 million in additional tax to be paid.


The Supreme Court decision may have a broad impact on closely held company plans for succession of ownership and how owners deal with the resulting estate tax liability. The redemption approach is a traditional business succession tool that might no longer be valid, which could have disastrous results for family business owners.


Learn from Vince what you need to know to guide your business owner clients.


Join the Zoom Meeting

https://zoom.us/j/92501990330?pwd=TURqTngzb0NCRndIZk9nT1ZnWTBNUT09​


Meeting ID: 925 0199 0330

Passcode: LAN2024


Or dial in: 646 931 3860

Meeting ID: 925 0199 0330

Passcode: 3844046

Speakers

  • Vincent D'Addona (Founder of Valent Wealth LLC)

    Vincent D'Addona

    Founder of Valent Wealth LLC

    https://www.valentwealth.com

    LAN member Vincent M. D’Addona, MSFS, CLU®, ChFC®, CExP®, RICP®, CEPA®, AEP® (Distinguished), is a founding member of Valent Wealth, LLC, an independent full-service wealth management and financial planning firm. Valent Wealth seeks ways to blend education, powerful communication, and wisdom to guide clients to eliminate threats, fulfill obligations, and capitalize on opportunities in their lives.

    Vince has 44 years of experience providing services in four core areas: Estate Planning, Exit Planning for the owners of closely held businesses, Distribution Planning for those at or near retirement, and Investment Coaching. He was inducted into the NAEPC Estate Planning Hall of Fame® in 2017.

    As one of the industry’s most highly regarded speaker/trainer/development coaches, Vincent is often known as the experts’ expert. He has helped hundreds of clients move closer to their full financial potential and has helped do the same for countless other financial professionals.

    Vince earned his B.A. in Biochemistry from Cornell University and his M.S. in Financial Services from The American College.

    Primarily based in Las Vegas and New York, you may reach Vince at Vince.DAddona@ValentWealth.com or (240) 982-6005 Talk and Text.

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