F.A.T. Class Session 6: Tax Savings for the Small Business & the Owners/Investors - The Qualified Small Business Exemption

Marks Paneth LLP

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SESSION 6 IN THE SERIES: TAX SAVINGS FOR THE SMALL BUSINESS & THE OWNERS/INVESTORS - THE QUALIFIED SMALL BUSINESS EXEMPTION

Year end is approaching and in the fall, when the Squirrel starts to stash away nuts for the future so must the savvy business owner LOCK IN valuable tax savings. Many such savings opportunities occur prior to profitability and must be preserved and collected in advanced in order to be available when desired in the future.

In this session, we will describe the five ways in which tax savings are generated. Particular emphasis will be placed on the extra exemption available till January 1, 2014 on the gain generated by the sale of qualified small business stock. Such benefit can be worth as much as $2,000,000 per shareholder. In this session, we will cover the four main requirements to qualify for the benefit:

1. The stock requirement
2. The qualified small business requirement
3. The active business test
4. The holding period

THE F.A.T. SERIES

The successful entrepreneur knows that financial savvy, expertise and discipline are the key tools in creating a successful business. Even if this is not your “core competency”, the successful executive will know how to uncover the “unknown unknowns” and build a team of experts to complement his/her skill set. It’s important, therefore, to select specialists in the areas of finance, accounting and tax who have the bandwidth and subject matter expertise. Our series will teach you the highlights and key areas in F.A.T. that you should know so that you can stay focused on building your business.

EVENT DETAILS

Tuesday, November 5, 2013

Marks Paneth LLP

685 Third Avenue
3rd Floor
New York, NY 10017

SCHEDULE

5:45 pm - 6:00 pm - Registration

6:00 pm - 7:00 pm - Presentation

SPEAKER PROFILE

Steven EliachSara Rabi, is a Partner at Marks Paneth LLP. She specializes in individual and fiduciary tax preparation and advisory services. She has extensive experience working with estates and trusts. Ms. Rabi serves a broad range of clients including corporate executives, family business owners and other high-net-worth individuals. As a member of the IRS Relations Committee of the New York State Society of Certified Public Accountants (NYSSCPA), Ms. Rabi plays an active role in advocating for the interests of the tax practitioner community.

 

Jeanne GouletJeanne P. Goulet is a Senior Consultant at Marks Paneth LLP. A tax specialist, Ms. Goulet has more than 25 years of experience in both industry and public accounting. Ms. Goulet spent the majority of her professional career with International Business Machines Corporation (IBM), ultimately serving as the Head of Tax of IBM Credit Corporation and a Tax Director of IBM.

To access our library of articles and presentations, go to:

http://blog.markspaneth.com/StartUpHub/