A Thought Leader Production by PKFTexas
Jen: This is the PKF Texas Entrepreneur’s Playbook. I’m Jen Lemanski, and I’m back again with Frank Landreneau, a Director and one of the faces of our International Tax team. Frank, welcome back to the playbook.
Frank: It’s great to be back.
Jen: In our last segment, we were talking about mistakes that multi-foreign multi-national companies can make when they’re doing some debt financing. Can you elaborate a little bit more on that?
Jen: This is the PKF Texas Entrepreneur’s Playbook. I’m Jen Lemanski, and I’m back again with Nicole Riley, an Audit Senior Manager and one of the faces of the PKF Texas Not-for-Profit team. Nicole, welcome back to The Playbook.
Nicole: Thank you. Glad to be here.
Jen: You know, we’ve been covering topics relevant to not-for-profit organizations, and one thing I noticed that you’ve talked about with clients are the fiduciary responsibilities of a board member. Can you elaborate on that a little bit?
Nicole: A lot of board members don’t realize that they do have a fiduciary duty, and it’s really important that they understand that, because they could be held financially responsible for the financial harm they do to an organization.
Jen: Wow, interesting. So, are there certain steps that they need to be mindful of?
Jen: This is the PKF Texas Entrepreneur’s Playbook. I’m Jen Lemanski, and I’m here with Brian Baumler, the Energy Practice Leader at PKF Texas and the Chair of the 17th annual TXCPA Houston Energy Conference. Also with us today is Jennifer Poff, the Executive Director of TXCPA Houston, and Tracy Tyler, the Co-Chair, as well as the Managing Director at WG Consulting. Welcome to The Playbook, everyone.
Jennifer: We’re glad to be here.
Brian: Thanks, Jen. I appreciate you having us here.
Tracy: Thanks, Jen.
Jen: Let’s kick this off. Jennifer, tell us as little bit about TXCPA Houston.
Jen: This is the PKF Texas Entrepreneur’s Playbook. I’m Jen Lemanski, and I’m back again with Frank Landreneau, a director and one of the faces of our International Tax team. Frank, welcome back to The Playbook.
Frank: Thanks for having me again. It’s a pleasure.
Jen: We’ve covered all sorts of international topics, but one thing we haven’t touched on is tax reform for tax planning strategies for multinational companies coming inbound.
Frank: That’s right. The rules have changed and tax reform, you know, the biggest development is the change in our tax rate for corporations since most inbound companies do business as a corporation and we’ve gone to 21% tax rate. There are revised rules for interest expense deductions and new rules regarding our net operating loss carryforwards.
Jen: Is there any kind of things people should be aware of for a financing strategy for when they’re coming inbound?
Jen: This is the PKF Texas Entrepreneur’s Playbook. I’m Jen Lemanski, and I’m back again with Matt Goldston, an Entrepreneurial Advisory Services director and one of the faces of PKF Texas’s Transaction Advisory Services team. Matt, welcome back to The Playbook.
Matt: Thank you, Jen.
Jen: So, we’ve spent a number of segments talking about the process for getting ready for a sale, so how does an owner really capitalize on that call, whether it’s planned or out of the blue, like we’ve discussed?
Jen: This is the PKF Texas Entrepreneur’s Playbook. I’m Jen Lemanski, and I’m back again with Matt Goldston, an Entrepreneurial Advisory Services Director and one of the faces of PKF Texas’ Transaction Advisory Services Team. Matt, welcome back to The Playbook.
Matt: Thank you, Jen. I appreciate it.
Jen: So, we’ve talked a little bit about getting ready for a sale and all of the things that come along with that, but what about some pitfalls? What do companies need to look out for?
Jen: This is the PKF Texas Entrepreneur’s Playbook. I’m Jen Lemanski and I’m back again with Frank Landreneau, one of our International Tax Directors. Frank, welcome back to The Playbook.
Frank: Thanks, Jen. It’s great to be back.
Jen: We were talking about FDII last time and that there have been a…
Jen: This is the PKF Texas Entrepreneur’s Playbook. I’m Jen Lemanski and I’m back again with Matt Goldston, an Entrepreneurial Advisory Services director and one of the faces of PKF Texas’ Transaction Advisory Services Team. Matt, welcome back to The Playbook.
Matt: Thank you, Jen.
Jen: So, we’ve been talking about selling your business and we’ve been talking maybe about planned sales, if you will. But what happens if a founder or an owner gets a call out of the blue and says, “Hey, I want to buy your business.” What do they do, do they freak out? What steps should they take?…
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Jen: This is the PKF Texas Entrepreneur’s Playbook. I’m Jen Lemanski, and I’m back again with Miriam Rouziek, an audit manager and one of the faces of PKF Texas’s SEC team. Miriam, welcome back to The Playbook.
Miriam: Thanks for having me, Jen.
Jen: So, we’ve been talking about SEC rules and guidelines.…
Jen: This is the PKF Texas Entrepreneur’s Playbook. I’m Jen Lemanski, and I’m here with Matt Goldston, an Entrepreneurial Advisory Services Director and one of the faces of PKF Texas’ Transaction Advisory Services team. Matt, welcome back to The Playbook.
Matt: Thank you very much, Jen.
Jen: So, I know you were talking with one of our guest hosts, Russ Capper, about selling your business, and what I want to touch on today is value. What does a company need to do to learn the value of their company?