Reported 7 months ago
Jere Doyle from BNY Mellon Wealth Management Tax and Estate Planning discusses the importance of succession planning for business owners to ensure a smooth transition in case of retirement or sale. He emphasizes the need for a team including attorneys, CPAs, and advisors to handle valuation and tax considerations. Doyle also highlights the upcoming tax law changes reducing the estate and gift tax exemption, advising business owners to utilize the current exemption before it decreases and stressing the significance of effective planning to navigate the complexities of estate and tax laws.
Source: YAHOO