102. Structuring Business for Tax Efficiency and Succession Planning: Part 2 with Stuart Sorkin

Your Business Your Life

Welcome back to part two of our special three-part educational series, where we continue exploring how business owners can optimize their structures for long-term success.

While tax rates were covered in the previous episode, this conversation takes a closer look at other crucial factors that impact business owners, such as transfer strategies, control, and long-term financial planning.

In this session, Matt is again joined by Stuart Sorkin, a seasoned attorney, CPA, and founder of Business and Legal Advisors, LLC, to dive deeper into the key differences between C Corps, S Corps, and LLCs. They also break down how the right entity structure can not only reduce tax liability but also provide shop owners with the flexibility to step back from day-to-day operations while ensuring future growth and stability.

Matt and Stuart also talk about:

(01.09) A big problem in raising investor capital with S-Corps

(03:08) What is a non-qualified deferred compensation plan?

(07:24) How strategic tax and equity planning can protect your business and key talent

(11:49) The role of a strong partnership agreement

(16:18) How to transition ownership while staying in control of the business

(21:13) Key considerations for different stock classes

(23:51) How employee agreements can protect your deal and boost valuation

(28:45) How to turn key employees into owners without breaking the bank

(31:42) How a holding company structure unlocks growth and employee equity

(33:11) Why your CPA or attorney may not recommend a C-Corp

Connect With Stuart Sorkin

Website: https://businessandlegaladvisors.com/

Personal Website: https://stuartsorkin.com/

Phone: [phone]

Email: [e-mail]

LinkedIn: https://www.linkedin.com/in/stuart-sorkin-84a528/

Schedule a call with Stuart: https://calendly.com/stuart-sorkin

Connect With Matt DiFrancesco:

[e-mail]

[phone]

LinkedIn: Matt DiFrancesco

LinkedIn: High Lift Financial

Facebook: High Lift Financial

Instagram: @high_lift_financial

Youtube: @highliftfinancial

About the guest:

Stuart Sorkin brings over 40 years of experience as an angel investor, entrepreneur, CPA, and attorney, specializing in assisting business owners with growth and exit strategies.

In 2018, he founded The Business and Legal Advisors, a consulting firm focused on the financial and legal protection of business owners, executives, and entrepreneurs.

He has expertise in areas such as business entity formation, mergers and acquisitions, tax planning, succession planning, and estate planning.

Stuart is the co-author of Expensive Mistakes When Buying & Selling Companies...and How to Avoid Them in Your Deals and has spoken at various professional groups on exit strategies and asset protection.

He has been featured in top media outlets, including the Wall Street Journal and USA Today, for his insights on tax-related matters.

Disclaimer:

All information is obtained from sources deemed reliable, but not guaranteed. No tax or legal advice is given nor intended. Content provided herein or on our website should not be construed as an offer for investment advice or for securities, insurance, or other investment products. Investments involve the risk of loss and are not guaranteed. Consult a qualified legal, tax, accounting, or financial professional before implementing any investments or strategy discussed here.

High Lift Financial is a DBA for DiFrancesco Financial Concierge, LLC. Investment advisory services are provided through Cornerstone Planning Group, LLC, an independent advisory firm registered with the Securities and Exchange Commission.