Join Cherry Bekaert’s Private Client Services podcast in the first podcast of our series for closely held businesses. In the first podcast, our team explores exit strategy essentials, diving deep into the world of closely held business transitions. Join our speakers Jessica Fairchild, Partner, Croke Fairchild Duarte & Beres, Drew Hinnant, Director, Cherry Bekaert, and David Nissen, Partner, Cherry Bekaert, as they unravel the complexities of exit strategies. Whether you're a founder considering retirement, a business owner looking to unlock your company's value, or planning a transition to the next generation, this podcast is your go-to resource.

In this episode, our speakers discuss the fundamentals of exit strategies, highlighting the importance of transitioning ownership to unlock value and ensure the continuity and growth of the business. Additionally, they share insights on various exit options, from initial public offerings (IPOs) and strategic sales to private equity and family transitions, while emphasizing the significance of planning and understanding your business's true value.

Discover the common challenges business owners face when planning their exits and learn valuable tips to avoid potential pitfalls. Our speakers stress the importance of early planning, having a trusted advisory team and being prepared for unsolicited offers. They also underscore the emotional journey of selling a business and the need for a supportive network.

Whether you're starting a business or contemplating a transition, Cherry Bekaert’s most recent podcast offers practical advice and expert insights to guide you through every step of the process. Tune in to cement your business's legacy and secure your personal and financial future.

The federal estate and gift tax exemption is scheduled to sunset by the end of 2025, and it is imperative to begin planning today in order to protect your assets and minimize tax burdens in your estate plan.

The first step is to receive an initial assessment of your current situation, which will help determine the impact of the sunset or current exemption on your estate. To prepare for the best possible outcome, it is important to work with experienced professionals who can create a customized estate plan tailored to your unique financial goals, risk profile and cash flows.

In this episode of Cherry Bekaert’s Private Client Services podcast, Marci Spivey, Family Wealth Taxation Segment Lead, and Mike Kirkman Estate, Trust & Gift Tax Leader, discuss the latest trends, news and insights in the world of finance.

They are joined by Clint Costa, Senior Wealth Strategist at Choreo, LLC, who provides an in-depth analysis of the estate tax and gift tax, explaining the fundamental concepts and how the sunset will impact assets. Additionally, this episode sheds light on specific steps individuals can take to assess whether they should utilize the additional estate tax exemption before it expires.

Listen to learn more about:

• The federal estate and gift tax exemption and its sunset after 2025
• How experienced professionals can help you create a customized estate plan
• Emotional considerations in estate planning and how to address them
• Why you should plan now and take advantage of valuations at today's value

Do not wait until it's too late. Start planning ahead with the right team of advisors.

Each year, as the tax filing deadline nears, it is important to identify your projected tax payments and when to pay them [LJ1] so you can avoid submitting inaccurate tax returns. Staying up to date with the most recent Internal Revenue Service (IRS) withholding and estimated tax payment guidelines for individuals is also crucial in understanding how these regulations will affect your taxes. This podcast focuses on estimated tax payments, withholding and related cash flow planning.

The first episode of the joint podcast series between Cherry Bekaert’s Private Client Services group and Choreo Advisors features Cherry Bekaert’s Marci Spivey, Partner and Private Client Services Industry Leader, and Deb Walker, Compensation & Benefits Director, as they are joined by Michael Radford, Managing Director at Choreo Advisors. Together they discuss the details of estimated tax payments, withholding and tax-related cash flow planning.

Tune in to learn more about:

• Estimated tax payment and withholding guideline overview
• How withholding can help tax payment obligations
• Advantages of seeking advice from tax professionals

Related Guidance

• TCJA: Estate & Trust Planning Update
• Charitable Remainder Annuity Trusts: Is Time Running Out?
• 2023 Year-End Tax Planning Checklist for Individuals
• Analyzing the Impact: Tax Relief for American Families and Workers Act of 2024