Tax Update: How Proposed Tax Changes Could Impact Family-Owned Businesses

Join BMO’s Pratik Patel and Dave Bensema, CPA, CFP,  Managing Directors with BMO Family Office, along with David Shaw, Publishing Director, Family Business Magazine to learn about the potential benefits that the recent tax updates may have for you and your family business in the future.

Thursday, July 8, 2021
2 PM ET | 11 AM PT
60 Minutes

President Biden’s American Jobs Plan and American Families Plan could significantly impact corporate and individual income taxes.  The proposed tax code changes have been closely watched by business owners and their advisors this year. Join us for an update on the latest developments from Washington and learn about topics such as:

  • What is the status of tax changes impacting family businesses?
  • Tax considerations for buying or selling a business – what’s the right timing?
  • Is the tax impact different for C corporation vs. S corporation owners?
  • How are real estate sale rules impacted (1031 exchanges)?
  • How could my personal income taxes and estate planning be impacted?



Pratik Patel

Managing Director, BMO Family Office

Pratik Patel leads the tax planning team at BMO Family Office, a wealth management provider that advises business owners and ultra-affluent individuals, families and family offices across their tax, estate, investment and philanthropic needs.  Pratik oversees the delivery of integrated planning strategies.  He has over a decade of experience in the financial services industry and has advised business owners on complex retirement, succession and estate planning needs during his career. 


Dave Bensema, CPA, CFP®

Managing Director, BMO Family Office

Dave Bensema, CPA, CFP® is a Managing Director on the tax planning team at BMO Family Office.  Dave provides customized financial planning solutions to individuals and families as part of an overall personal wealth management strategy.  He frequently works with business owners on the pre-transaction stage of business acquisitions and sales, in order to maximize the tax mitigation strategies.  He joined the organization in 1991 and has over 30 years of experience in the financial services industry. He is a Certified Public Accountant and a CERTIFIED FINANCIAL PLANNER™ professional.

David Shaw

Publishing Director, Family Business Magazine

David Shaw is the publishing director of Family Business Magazine and its sister publication, Directors & Boards. With more than 30 years of experience in business-to-business and consumer media markets, he has served as an editor, publisher, publishing director, group publisher and group vice president of a variety of publications, trade shows, conferences and websites.

Prior to founding GRID Media, David served as senior vice president for Phillips Business Information Inc., where he oversaw nearly 100 discrete media properties, and helped build the business from $35 million to more than $100 million in annual revenues. He is a frequent author and speaker on issues related to business-to-business media, multi-generational family businesses and private and public company governance. He is married, with two grown children, one serving in the Navy and the other in law school.



• No cost to attend 

• Opportunity for questions and feedback

• Unbiased third-party family business education 

• All participants can receive a copy of the webinar materials after the event, upon request

• All participants receive Family Business Magazine weekly newsletter, with news, tips and trends that impact your family business. You may, of course, opt out at any time.

• 60 minutes -- maximum value for time