Impact of Capital Gains Tax Changes on Agency Sales

Description

Over the last few years Washington’s Legislature has considered creating a new state capital gains tax. This year’s proposal to put a state 7% tax on capital gains above $250,000 has a chance of passing this session and could be in force eight months later. There is also talk of changes in the federal capital gains tax. All of these changes will have an impact on the sale of insurance agencies and your commercial customers’ businesses. Get the latest information on these tax proposals and how they will impact the sale (and purchase) of businesses in the next year.

Marc Jorgenson, CPA, is an accountant with Ryan Jorgenson & Limoli who for over 30 years has specialized in tax, tax planning, business formation, perpetuation and entity selection with independent insurance agents. Marc will discuss the impact of recent tax changes and proposals on the sale or purchase of a businesses this year.

Jeff Bronaugh, CPCU, ChFC, CIC, CLU, is the founding and managing partner of BCE Consulting which specializes in insurance agency mergers / acquisitions. Jeff will share some thoughts on how agency owners can prepare their businesses to maximize their sale value with key areas to focus on for a timely and profitable sale.

**No CE available for this class**