Business Planning: Closely Held Enterprises

Dwight J. Drake, University of Washington School of Law

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Table of Contents

Highlights of the sixth edition include the following:

1. A new chapter examining the unprecedented ups and downs of the last 18 years, from the Obama-era recession, to the amazing 2017 bounce back with the Tax Cut and Jobs Act (TCJA), to the Covid recession (worst since the Great Depression), and to the post-Covid tax reforms, including Biden’s Inflation Reduction Act and Trumps One Big Beautiful Bill Act (OBBBA). The TCJA and OBBBA are pro-business tax reforms that transcend just about anything that could have been realistically imagined a few years back.
2. Updated analysis of core business planning challenges:
• Corporate and partnership formations
• Choice-of-entity planning
• Entity Conversions
• Buy-Sell agreements
• Buying and selling a business
• Family business transitions
• Executive compensation
• Business life insurance planning
• Wealth diversification strategies
• Family and multi-entity planning
• Asset protection planning
• Employee benefits and challenges
• Raising capital options and challenges
• Business and competitor collaborations
3. A review of artificial intelligence (“AI”) issues, the new, hottest challenge for businesses, including its rocket growth, scope of possibilities, risks and casualties, and smart planning options.
4. Practical information for the business legal advisor, including basic business metrics (capitalization rates, current and acid test ratios, EBITDA, etc.), business valuation techniques, tips on building a practice to serve closely held businesses, and common ethical challenges faced by business legal advisors.
5. Sixty-two mini-case study problems that challenge students to apply what they have learned and encourage lively, interactive classroom discussions.

Learn more about this series.