Estate Planning after a Business Sale

by | Aug 30, 2023

ARTICLE | August 30, 2023

After selling a business, it is crucial to update your estate plan to align with your new financial situation. This includes reducing your exposure to estate tax through various techniques such as making gifts to family members or charity. In the linked article by RSM, you will find an overview of common strategies for transferring wealth to your beneficiaries while minimizing estate tax. It also emphasizes the importance of reviewing and revising your estate planning documents to ensure they reflect your current financial situation and wishes. To learn more about estate tax reduction strategies and how to revise your estate plan after selling a business, read the linked article, and reach out to your KHA tax professional to begin appropriate discussions and planning.  

Read the full RSM article here…

Questions or Want to Talk?

Call us directly at 972.221.2500 (Flower Mound) or 940.591.9300 (Denton),
or complete the form below and we’ll contact you to discuss your specific situation.

  • Should be Empty:
  • Topic Name:

Why the Cost of Customer Acquisition Is So Important

For any business, understanding and effectively managing the cost of customer acquisition is crucial for success. In this video, we’ll explain what it is, how it’s calculated, and how it affects a business’s profitability, cash flow, and overall growth.

IRS releases guidance on Roth catch-up contributions under SECURE 2.0

The Internal Revenue Service (IRS) has recently released guidance on Roth catch-up contributions under SECURE 2.0 Act. This guidance, outlined in Notice 2023-62, provides important information for individuals who are age 50 or older and participating in a retirement plan that allows deferral contributions.

Estate planning after the sale of a business interest

This article discusses estate planning and tax considerations after the sale of a business interest or other liquidity event, including common strategies to reduce estate tax and meet charitable giving goals.

Will You Need To Report Beneficial Ownership Information?

The Corporate Transparency Act will require most businesses to provide beneficial ownership information to the U.S. Department of Treasury to combat money laundering. Find out who needs to report, what information is required, and when the reports must be submitted.

IRS provides guidance for RMDs under SECURE 2.0 Act

A recent IRS Notice provides essential guidance on required minimum distributions (RMDs) under SECURE 2.0. This article reviews that Notice and provides insights into the updated rules and deadlines for RMDs, helping taxpayers navigate the ever-changing landscape of retirement planning and compliance with IRS regulations.