Buying and Selling a Business: Tax, legal, and valuation process explained
Thursday, January 19 at 6:00 pm
Are you expecting to buy or sell a business in the future? Are you interested to know what tax implications there are? Or, why it’s important to have an attorney on your side during the transaction and what legal documents are needed? Would you like to learn how a valuation is done by a certified business valuation expert? Then this webinar will be right for you. The Penn State SBDC has teamed up with Matt Stoyanoff, CPA from Okonak Dean Lechner and Megan Ingram, Esquire from Steinbacker, Goodall & Yurchak, to talk about tax implications and legal basics of buying and selling a business. Will Hooten, BCA from Penn State SBDC will explain the business valuation process from a certified business appraiser’s perspective.
Okonak Dean Lechner
Certified Public Accountant
Matt started with the firm in October 2012. He completed the requirements to become a Certified Public Accountant in the Commonwealth of Pennsylvania in November 2015. Matt holds two degrees from Mount Aloysius College (Accounting and Criminology). Matt focuses on income tax preparation and advisory services for small businesses and individuals. Matt serves clients in both our Altoona and State College offices and was promoted to manager in January 2020. Matt lives in Hollidaysburg with his wife and two daughters.
Megan J. Ingram
Steinbacher, Goodall & Yurchak
Megan Ingram, Esq., graduated summa cum laude from Penn State Law with a concentration in Taxation. During law school, Megan was inducted into the Woolsack National Honor Society and served as senior editor of the Penn State Law Review where her article, “Pacing” Ourselves: Saving Medicaid through Programs of All-Inclusive Care for the Elderly, was chosen for publication. She received CALI Excellence for the Future Awards for earning the highest final grades in eight of her classes, including Wills, Trusts & Estates, and Federal Taxation of Domestic & International Business Transactions. Additionally, Megan was a Faculty Scholar, Law Lion Ambassador, and was awarded the Gwilym A. Price, Jr. Memorial Scholarship for her appellate advocacy and writing skills. She was named a Super Lawyers® Rising Star for 2022 and 2023.
The First Steps to Small Business Success
Tuesday, February 14 at 9:00 am
Join us for our monthly seminar/webinar designed for people who are thinking about starting a business or who are in the early stages of starting. Our small business experts will share the key aspects of starting a business and help you determine if launching a business is right for you. The First Step to Small Business Success is being offered as an in-person program with an online/streaming option available upon request.
Topics covered include:
- Business structures
- How to assess the feasibility of your business idea
- Legal and tax implications of owning a business
- How to develop a business plan
- Funding options and how to compile a bank-ready financial package
- How to market your product or service
- Health and safety regulations that may apply to your business
- Where to find other resources that may help you succeed
Sponsored by: SCORE Mentors of Central PA
Ag Grant Best Practices Webinar: Your Opportunity to Learn & Ask About Grant Opportunities
Thursday, February 16 at 12:00 pm
The Ag Center of Excellence at the PA Small Business Development Center is hosting a free, informal grant panel discussion for new and existing agricultural entities. This is your opportunity to learn about grant opportunities in the state and learn the process for grant application that you can use to build, diversify and grow your business.
Key Take Away:
• Where to find grant opportunities
• Determine if you/your operation is a good fit for a grant
• Preparing forms & other materials necessary for application
• Resources available to assist with application process
Learn about grant best practices from:
• Pennsylvania Deaprtment of Agriculture – Ag Business Development Center
• PA Center for Beef Excellence
• PA Center for Dairy Excellence
• Penn State Extension
• Chester County Economic Development Center AgConnect
• Horizon Farm Credit
Advance registration is required.
Ag Finance Seminar: Your Opportunity to Learn & Ask Ag Finance Questions
Wednesday, March 8 at 11:00 am to 1:00 pm
The Ag Center of Excellence at the Penn State Small Business Development Center is hosting a free practical, informal financial forum for new and existing agricultural & food entities. This is your opportunity to learn how to evaluate your creditworthiness and learn the process for loans and grants that you need to build, diversify and grow your business.
Key Take Aways:
• Process in applying for loans & grants.
• Key questions to ask in the process.
• Preparing forms & going to a bank meeting.
• Networking with peers, bankers, decision-makers and multipliers
Export Sales & Finance Workshop
Wednesday, March 22 at 10:00 am to 12:00 pm
When companies export products or services, long payment terms can often create working capital challenges. The upfront cost of producing, shipping, and delivering the goods can be tricky for businesses to manage. Export finance helps businesses release working capital from cross-border or domestic trade transactions that would otherwise be tied up in invoices or purchase orders (for up to 180 days). Export finance is a form of specialist trade finance that can help a business grow and sell to a larger market.
Organized by the Small Business Association and the PA Small Business Development Center, this is an interactive, practical workshop to assist new and existing exporters understand how to grow exports and finance sales, utilizing PA and U.S. government programs with commercial bank financing. We encourage interaction with attendees and panelist, especially using case studies and success stories to illustrate the example. The workshop will be offered in person and virtually.