Tax Considerations when Planning a Business Exit with Louis Hamel, CPA® — Part I

Episode 4: Navigating the complexities of tax compliance during a business exit is a critical aspect that demands careful attention.

What do we need to consider?

In this conversation of the Exit Planning Toolkit miniseries, Marc Campbell and Chris Girbés chat with Louis Hamel, Partner at HW LLP, about the tax considerations to keep in mind during a business exit. They delve into the potential risks of tax compliance issues, particularly at the state and local level, and how they can impact a transaction. 

Additionally, they touch on Qualified Small Business Stocks (QSBS) and everything you need to know about moving to a state with lower income taxes.

They discuss: 

• The need for founders and c-suite entrepreneurs to be proactive in addressing state and local tax compliance issues
• All things QSBS and its overlooked benefits (and exemptions) in the tax code
• The Section 1045 rollover
• The value of assembling a team and strategically positioning oneself for the best long-term results
• When it makes sense to move to a state with no income taxes and the implications of such a move
• The concepts of residency and domicile for tax purposes
• And more!

Resources:

• Estate Planning Strategies for Business Owners with Cara Koss (Ep. 5)

Connect with Marc Campbell: 

• LinkedIn: Marc Campbell
• Five Oceans Advisors 

Connect with Christopher Girbés: 

• LinkedIn: Christopher Girbés
• Five Oceans Advisors 

Connect with Louis Hamel: 

• LinkedIn: Louis Hamel

About Our Guest: 

Louis Hamel understands the key aspects of building successful long-term client relationships: personal attention, trust, integrity, responsiveness, and the importance of proactive thinking.

Beyond this foundation, Louis has the innate ability to connect with people by understanding their needs, asking the right questions, and seeing the big picture. This approach is why he is more than just a CPA. Instead, he’s a true advisor – going beyond the numbers by providing valuable advice and practical solutions. 

Louis specializes in advisory services for closely held businesses, from start-up enterprises to large privately owned firms. Areas of expertise include consulting for tax issues, business formation, and succession and estate planning. With over 15 years of experience, Louis has expertise in a variety of industries, including manufacturing, distribution, real estate, and professional services, among others.