New Family Enterprise USA Video on Taxes Depicts Painful Decisions Multi-Generation Family Businesses Make Upon Leader’s Death
Video Series, ‘Unsung Heroes’, Tackles Struggles and Triumphs Family Businesses Face Daily, including Hurtful Government Policies, Taxes, and Succession
The hard decisions multi-generational family businesses must make on the death of their founders come to life in a new video, “Unsung Heroes: Struggles and Triumphs of Family Businesses,” presented by Family Enterprise USA.
The video series tackles critical subject areas affecting America’s largest employer, family businesses, and is hosted by Pat Soldano, President, Family Enterprise USA and Policy and Taxation Group.
Enjoyed the video? Don't miss out on more insightful content!
Click the 'Subscribe' now to stay updated with our latest videos on family offices, successful individuals, taxes, and more!
The second video in the series, entitled “On Taxes,” features a half-dozen multi-generational family business owners expressing their personal views on how taxes, particularly the Estate Tax, or Death Tax, can devastate the business and family forever, often leading to the closure or sale of the business.
The first video in the series, launched last month, focused on the key role family businesses play in providing charitable giving to communities. Future videos will tackle such subjects as the environment, barriers to success, employees, and workforce development.
“This video provides real-life examples of how America’s family businesses feel about crippling taxes and the long-term stress they put on our country’s number one private employer, family business,” said Soldano about the latest episode. “The Estate Tax, or Death Tax, is the number one existential issue multi-generational family businesses face,” Soldano said. “It takes enormous planning and cost to prepare a business and family for this inevitability and our legislators don’t really understand the long-term impact of preparing for the tax and paying the tax,” she said.
The episode also shows family business leaders discussing their views on personal income taxes, the income tax disadvantages of pass-through entities versus large corporations, as well as step-up-in basis valuation issues.
The series is based on over 16 interviews with multi-generational family business leaders from across the country and over a wide range of industries, from real estate to roofing and forestry to chemicals.
We hope you’ve enjoyed this article. While you’re here, we have a small favor to ask…
As we prepare for what promises to be a pivotal year for America, we’re asking you to consider becoming a supporter.
The need for fact-based reporting of issues important to family offices and successful individuals and protecting a lifetime of savings has never been greater. Now more than ever, family offices and successful individuals are under fire. That’s why Policy and Taxation Group is passionately working to increase the awareness of issues important to family offices and successful individuals, while continuing to strengthen our presence on Capitol Hill.
Policy and Taxation Group is the Voice for Family Offices and Successful Individuals in Washington, DC focused exclusively on the critical tax and economic policies that impact them.
Since 1995, Policy and Taxation Group has been the leading advocacy group working to reduce and eliminate estate tax, gift tax, and generation skipping transfer tax while blocking increased income tax and capital gains taxes, the creation of a wealth tax, and other hostile tax policies that punish hardworking taxpayers and success.
#incometax #taxseason #federaltaxpolicy #taxation #EstateTax #Deathtax #wealthtax #taxLegislation #CongressionalCaucus #CapitalGainsTax #incometaxrates #incometaxseason #taxrefund #taxreturn #incometaxreturn #gifttax #Generationskippingtax #InheritanceTax #repealestatetax #FamilyBusiness #promotefamilybusinesses #familyowned #supportlocalbusiness #womeninbusiness #AdvocatingForFamilyBusinesses #Generationallyowned #Multigenerationalbusiness @FamilyEnterpriseUSA @PolicyAndTaxationGroup @DitchTheEstateTax #FamilyEnterpriseUSA #PolicyAndTaxationGroup #DitchTheEstateTax