[et_pb_section fb_built=”1″ _builder_version=”4.16″ custom_padding=”4px|||||” global_colors_info=”{}”][et_pb_row _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_divider color=”#397389″ divider_weight=”2px” _builder_version=”4.19.4″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][et_pb_cta title=”Unlock Growth: Optimize Your Shareholder Liquidity Strategy” button_url=”https:\/\/us02web.zoom.us\/webinar\/register\/7916902497205\/WN_NAw6RPJKQK2yg0SdIF5orA” button_text=”Discover essential tactics to safeguard your family business’s future. Reserve your seat now!” admin_label=”Call To Action Top” _builder_version=”4.24.3″ _module_preset=”default” background_color=”#397389″ custom_button=”on” button_bg_color=”#ff0019″ custom_margin=”-17px|||||” custom_padding=”16px||19px|||” global_module=”9695″ saved_tabs=”all” global_colors_info=”{}”][\/et_pb_cta][et_pb_divider color=”#397389″ divider_weight=”2px” _builder_version=”4.19.4″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][et_pb_text admin_label=”1″ _builder_version=”4.25.1″ text_font=”||||||||” text_font_size=”16px” background_size=”initial” background_position=”top_left” background_repeat=”repeat” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n
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Funds saved from lowered Estate Taxes, and other taxes, will go directly toward reinvestment into family businesses and to employee salaries and benefits, according to results from a new survey<\/a> and recent interviews with family business leaders on Capitol Hill.<\/p>\n The new survey<\/a>, based on responses from nearly 800 family business executives from across the country, reveals money saved from tax policies will fund business investment, payroll improvement, and local communities.<\/p>\n The survey, by Family Enterprise USA and called the Family Business Annual Survey 2024<\/a>, found 52% of respondents would \u201cInvest more in my business\u201d while the next highest response, 30%, would \u201cPay my employees more.\u201d<\/p>\n More importantly, the survey found only 8% said they would \u201cmake distributions to owners.\u201d<\/a><\/p>\n It\u2019s clear from our research and from executives we\u2019ve interviewed that there is a false perception that reducing or repealing the Estate Tax will be a windfall for owners. Instead, the savings will fuel business growth. America\u2019s family businesses are big business. Family businesses are the largest private employer in the country and account for 83.3 million jobs. In addition, they contribute $7.7 trillion annually to U.S. gross domestic product, according to research.<\/p>\n Our survey showed 52% of family business leaders<\/a> want the current exemption levels for the Estate Tax to remain \u201cas is\u201d or \u201creduced,\u201d while 26% want it fully repealed. The current exemption level is $12.92 million per person to the end of 2025, when it reverts to pre-2017 levels.<\/p>\n [\/et_pb_text][et_pb_divider color=”#397389″ divider_style=”dotted” disabled_on=”off|off|off” _builder_version=”4.19.5″ _module_preset=”default” custom_margin=”||14px|||” custom_padding=”10px||2px|||” global_colors_info=”{}”][\/et_pb_divider][et_pb_video _builder_version=”4.25.1″ _module_preset=”default” src=”https:\/\/www.youtube.com\/watch?v=lPwGMy80RSw” hover_enabled=”0″ sticky_enabled=”0″][\/et_pb_video][et_pb_divider color=”#397389″ divider_style=”dotted” disabled_on=”off|off|off” _builder_version=”4.19.5″ _module_preset=”default” custom_margin=”||14px|||” custom_padding=”10px||2px|||” global_colors_info=”{}”][\/et_pb_divider][et_pb_text admin_label=”2″ _builder_version=”4.25.1″ text_font=”||||||||” text_font_size=”16px” background_size=”initial” background_position=”top_left” background_repeat=”repeat” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n At the March Congressional Family Business Caucus, we asked five family business executives the question: \u201cIf you paid less in taxes<\/a>, what would you do with the extra funds?\u201d<\/p>\n The executives cut across different geographies and businesses, including midwestern food companies, an international tile company, a California technology company, and a Silicon Valley real estate business.<\/p>\n The family business leaders\u2019 responses were unified: money saved from a better tax policies<\/a> will go directly into business investment, payroll improvement, and local communities.<\/p>\n Here\u2019s what they said:<\/strong><\/p>\n \u201cAny additional funds or savings we might get from an improved tax policies<\/a> will be re-invested back into the business and into employee development,\u201d said Matt Nielsen, Vice President, Strategic Initiatives, Massy-Nielsen Vanillas based outside of Chicago. \u201cWe want to make sure our employees have upward movement, and we also want to donate to our local charities,\u201d Nielsen said.<\/p>\n Robert Loggins, Director of External Affairs, Bush Brothers, the Chestnut Hill, Tenn-based bean company, agreed investing more into the business is primary.<\/p>\n \u201cThe additional funds from taxes savings<\/a> would allow us to pour more capital assets into the business to fuel our growth, buy new equipment, increase our brand development, and make company acquisitions,\u201d Loggins said. \u201cThis will help build the company and build the community,\u201d he added.<\/p>\n Others concurred.<\/p>\n \u201cAny savings we would get would be re-invested back into our employees and specifically into research and development,\u201d said Ron Nash, President, COO, Laticrete International, based in Bethany, Conn. \u201cWe would do this in order to continue our investment into the future,\u201d he said while attending the Caucus meeting. \u201cThe stark reality,\u201d according to Nash, is \u201cAmerica needs to start inventing again.\u201d<\/p>\n In addition, he said, research and development tax policies<\/a> \u201cneed to be revised so companies can start investing in America, we no longer are a country of doers and makers, we need to get back to that, back to investing in America.\u201d<\/p>\n Re-investing funds back into Southern California-based Golden Star Technologies is also of primary interest to its second-generation CEO, Dennis Wang.<\/p>\n \u201cI would re-invest back into the business,\u201d Wang said. \u201cI would hire more people, give them skills training, buy more equipment, and expand,\u201d he said. \u201cI\u2019m turning seventy-three and I have to think about how my business assets will be affected,\u201d Henderson said. \u201cWhat do I need to sell or not sell to make sure I can pay the estate tax obligation,\u201d he said. \u201cThis all impacts on how we look at future investments, and it\u2019s not insignificant.\u201d<\/p>\n If you want to learn more, you can find the highlights of the Family Business Annual Survey 2024 and the video of the five family business executives speaking on the Estate Tax can be viewed at www.familyenterprise.com.<\/p>\n [\/et_pb_text][et_pb_divider color=”#397389″ divider_weight=”2px” disabled_on=”off|off|off” _builder_version=”4.19.4″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][et_pb_text disabled_on=”off|off|off” admin_label=”Become a member text” _builder_version=”4.21.0″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” link_option_url=”https:\/\/familyenterpriseusa.com\/donate-2\/” global_module=”5822″ global_colors_info=”{}”]<\/p>\n As we prepare for what promises to be a pivotal year for America, we’re asking you to consider becoming a member.<\/p>\n The need for fact-based reporting of issues important to multi generational businesses<\/a> and protecting a lifetime of savings<\/a> has never been greater. Now more than ever, multi generational businesses<\/a> and family businesses<\/a> are under fire. That’s why Family Enterprise USA<\/a> is passionately working to increase the awareness of issues important to generationally-owned family businesses<\/a> built on hard work, while continuing to strengthen our presence on Capitol Hill. The issues we fight for or against with Congress in Washington DC include high income tax rates<\/a>, possible elimination of valuation discounts, increase in capital gains tax<\/a>, enactment of a wealth tax<\/a>, and the continued burden of the gift tax<\/a>, estate tax<\/a> and generation skipping tax<\/a>.<\/p>\n [\/et_pb_text][et_pb_button button_url=”https:\/\/familyenterpriseusa.com\/donate\/” button_text=”Become a Family Enterprise USA Member” button_alignment=”center” disabled_on=”off|off|off” admin_label=”Become FEUSA member button” _builder_version=”4.21.0″ _module_preset=”default” custom_button=”on” global_module=”6503″ global_colors_info=”{}”][\/et_pb_button][et_pb_divider color=”#397389″ divider_style=”dotted” divider_weight=”2px” _builder_version=”4.19.4″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][et_pb_video_slider admin_label=”Video Slider Webinar Replays” _builder_version=”4.21.0″ _module_preset=”default” saved_tabs=”all” global_colors_info=”{}” global_module=”5954″ theme_builder_area=”post_content”][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=ebLC74TMplE” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=fIbiW_qFdE0″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=uKyoSHKZ-5o&t=81s” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=KIgfjsdi4o0″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=6ME0xh9XKSM” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=Ggte5YDferU” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=GnpvvzhcfS0″ _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=6UMxZ8yBsOs” _builder_version=”4.21.0″ _module_preset=”default” global_colors_info=”{}” theme_builder_area=”post_content” show_image_overlay=”off”][\/et_pb_video_slider_item][\/et_pb_video_slider][et_pb_text disabled_on=”off|off|off” admin_label=”FEUSA Statement” _builder_version=”4.21.0″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” link_option_url=”https:\/\/familyenterpriseusa.com\/donate-2\/” global_module=”5910″ saved_tabs=”all” global_colors_info=”{}”]<\/p>\n Family Enterprise USA<\/a> promotes generationally<\/a> owned family business<\/a> creation, growth, viability, and sustainability by advocating for family businesses<\/a> and their lifetime of savings with Congress<\/a> in Washington DC.\u00a0 Since 2007, Family Enterprise USA<\/a> has represented and celebrated\u00a0all sizes, professions and industries of family-owned enterprises and multi-generational<\/a> employers. It is a bi-partisan 501.c3 organization.\u00a0Family foundations can donate.<\/a><\/p>\n [\/et_pb_text][et_pb_text disabled_on=”off|off|off” admin_label=”Hash tags & Tags” _builder_version=”4.21.0″ _module_preset=”default” global_module=”6498″ global_colors_info=”{}”]<\/p>\n #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\u00a0 @FamilyEnterpriseUSA @PolicyAndTaxationGroup @DitchTheEstateTax #FamilyEnterpriseUSA #PolicyAndTaxationGroup #DitchTheEstateTax<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":" A New Family Business Survey and Executives Both Say Tax Savings Will Grow Businesses, Pay Employees More, and Help Communities Latest Survey Results, Execs Speak Out at Congressional Family Business Caucus; Saved Money Will Go Toward Reinvestment, Workforce, Charities Funds saved from lowered Estate Taxes, and other taxes, will go directly toward reinvestment […]<\/p>\n","protected":false},"author":2,"featured_media":11391,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","content-type":"","footnotes":""},"categories":[48,43,3,92,76,103,36],"tags":[],"class_list":["post-11389","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-family-businesses","category-estate-taxes","category-feusa","category-multi-generational-business","category-income-taxes","category-next-gen","category-taxes"],"acf":[],"_links":{"self":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/11389","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11389"}],"version-history":[{"count":3,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/11389\/revisions"}],"predecessor-version":[{"id":11394,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/11389\/revisions\/11394"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/media\/11391"}],"wp:attachment":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11389"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11389"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11389"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
We helped organize the recent Congressional Family Business Caucus events, where the topics have been \u201cWorkforce Challenges\u201d and \u201cSuccession.\u201d<\/p>\nFamily Business Speaks Out<\/h4>\n
But for Silicon property development company CEO Dave Henderson, Cilker Henderson Properties, the issue is more about looking at the stark tax reality<\/a> of what might result from what many call the \u201cDeath Tax.\u201d<\/p>\nWe hope you’ve enjoyed this article. While you’re here, we have a small favor to ask…<\/em><\/h4>\n
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