Steven I. Risbridger, CPA, managing partner of Reynolds & Rowella, LLP's New Canaan office, participated in a panel discussion sponsored by the XPX Connecticut Exit Planning Exchange focused on collaboration in exit planning for business owners.
The Nov. 15 program at the Stamford Yacht Club illustrated how collaboration among professional advisers before, during and after the sale can lead to a successful outcome for the exiting business owner. In addition to Risbridger, panel members included a trust and estate attorney, investment banker and representatives of Bernstein Global Wealth Management.
Exit planning is a service offered by Reynolds & Rowella.
Prior to a business sale the owner may have a single trusted adviser, often a CPA. Bringing other members onto the team may fall to this adviser who must also focus on tax planning before, during and after the closing. Many deals involve an array of financial terms with varied tax consequences such as recapitalization, earn-outs, stock versus asset purchase or employment agreements. During the process, the CPA must advise on compliance issues and present some effective tax reduction techniques that may serve to offset the tax liabilities involved in any transaction.
Risbridger is a member of the American Institute of Certified Public Accountants and the Connecticut Society of Certified Public Accountants, who has worked with business owners for the past 25 years. His responsibilities have been to provide tax, audit and business advisory services for a wide range of clients. Risbridger has had leadership positions with the New Canaan Chamber of Commerce, the New Canaan Rotary Club and the United Way.