Financial Planning with Business Owners

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1.5 Credits

This CPE course looks at the personal financial planner's role in offering counsel and advice to the business owner client regarding the selection of the businesses entity. The choice of business entity, or even the decision to form one, is critical in the personal financial planning process as many tax and nontax factors must be considered. The choice of entity affects the entire spectrum of an individual's personal financial plan:

  • Asset protection
  • Income taxes
  • Financial independence, and risk management

Entity-selection planning is a much-needed service, and few planners make a conscious effort to offer this service mostly due to a lack of knowledge with respect to its importance. Entity selection affects not only how risk created by the business is addressed, but also how the goals of the closely held business owner are achieved, both during pre- and post-liquidity events. This course considers the type of entities selected and how they affect taxation, benefits, and how capital is raised.

Working with the closely held business owner is rewarding to you as the personal financial planner in that it allows you to bring the full scope of your services to the client. The foundation of this process is the determination of the client's goals and objectives and the selection of an appropriate business entity to support these desires. Once the entity has been selected, the planner has the opportunity to bring the entire pallet of tax-planning solutions to the personal financial plan of the closely held business owner. This course will cover the information you need to offer this valuable service to your clients.


  • Recognize the two types of closely held businesses.
  • Recall the tax consequences of the transfer of assets to a partnership entity in exchange for an ownership interest.
  • Identify the simplest type of closely held business to form.
  • Recognize the advantages of a sole proprietorship.
  • Identify business entities that may be used to form a private family foundation.
  • Recall the advantages of an S corporation.

Major Topics

  • Closely-Held Business Basics
  • The Impact on the Business Owner
  • Integrating the business with the owner's personal financial plan

Designed For

CPAs and financial planners with basic knowledge of, and interest in, personal financial planning.

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