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Succession Planning for the Small: Finding the Exit Ramp (in collaboration with the FICPA)


The life cycle of the small business can be summed up in three segments: 1) starting the business; 2) operating the business; and 3) getting out of the business. This course focuses on getting out of the business. The most elusive element of owning a small business can be finding the proper exit strategy. This course is designed to provide the business consulting practitioner with tools and concepts to advise the small business owner and assist them in developing the right exit strategy. The course covers exit strategies related to third-party sales and succession planning within a family.

Learning Objectives

<liUnderstand the process of selling a business from finding a buyer to completing the sale</font</li
<liUnderstand how business brokers operate and the fees that they charge</font</li
<liDiscuss the difference between selling the business and leaving the business: the transition period</font</li
<liProtect the seller’s interest in a seller-financed sale</font</li
<liUnderstand how estate planning and family succession of a business interact</font</li
<liUnderstand the use of discounts in transfers of ownership interests to family members</font</li
<liDiscuss when to turn over operations while maintaining control of a family business: drawing distributions from the business for retirement and receiving a step-up in basis at death</font</li
<liUnderstand various structuring options for family business succession</font</li


Major Topics

<liHow to find unrelated buyers of a business</font</li
<liMaintaining control of the business succession process</font</li
<liTurning over the reins to family members: when to give up control</font</li
<liFinding the right team to sell a business</font</li
<liOptions for selling a business to an unrelated party</font</li
<liOptions for selling a business to family members</font</li
<liOptions for selling a business to employees</font</li
<liOvercoming the emotional attachment to a business</font</li
<liSelling to family members for a life annuity</font</li
<liUsing family partnerships and trusts to transfer a business</font</li


Maryland Association of CPAs
Course Level
Professional Area of Focus
CPE Field of Study
Who Should Attend

Practitioners with small business clients that will eventually sell that business to third parties or family members that need advice regarding exiting the business


A basic understanding of business entity types and taxation of sales of businesses

Live Online – via FICPA On24 Link
Event Information
Jun 7, 2023
12:30 pm - 4:00 pm EDT
Live Online – via FICPA On24 Link
Total CPE Credits
Live Webcast


$ (% off)


$ (% off)
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Succession Planning for the Small: Finding the Exit Ramp (in collaboration with the FICPA)

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