304) BEI Annual Conference – Tom Ganos and IWC Family Offices

Tom Ganos and IWC Family Offices

Todd: “Our firm does tax planning for the sale of businesses. So if a business owner is out to sell their business, often they’ll have an exit planner involved.  We are here to support that exit planner. In the plan we handle the tax component and depending on the client’s specific circumstances, we might be able to save them anywhere from 30 to maybe 75% of taxes on sales.”

Norman: “How did you get involved in this particular niche?”

Todd: “Well, actually it started out many years ago. My firm was originally an investment advisor firm and I would say probably about 20 years ago clients begin asking us about tasks planning and state planning and so forth. I have a legal background as well as a tax background. So we started to extend those services to them. Eventually, they started to ask us about servicing trust funds so we formed trustee operations and got our license and as trustees eventually we saw where specific tax strategies were of particular benefit to business owners when they were selling their business. That if you sort of think about it estate planning is going to basically handle the whole families wealth when the business owner dies. Well, the substantial worth of the business owner is going to be in that company and it’s all going to be tied to when they sell.”

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