JONATHAN A. KARP Email: JonKarp@Reish.com Jon Karp is a shareholder of the law firm of Reish & Reicher, a Professional Corporation, representing medium sized, closely-held businesses and their owners in a variety of industries, including manufacturing, distribution, retail sales and professional services, and high net worth individuals. He is both an attorney and licensed by the State of California as a Certified Public Accountant (inactive). Jon was previously Vice President of the Los Angeles Chapter of the California Society of Certified Public Accountants and currently chairs the Management of an Accounting Practice (MAP) Committee. In 2004, the California CPA Education Foundation honored Jon with the Conference Volunteer of the Year Award. The award recognized Jon’s service to the Foundation’s conferences, both chairing and speaking at them. Jon also received a Special Recognition Award in 2004 from the Los Angeles Chapter of the California Society of CPAs for his service to that organization, particularly in revitalizing the local MAP Committee. In addition, Jon was recognized by Law & Politics as a top Southern California lawyer, featured in Los Angeles magazine in 2004, 2005, 2009, 2010 and 2011. Areas of Practice Business Employment Law Tax, Estate Planning & Probate Professional Experience Jon has over 30 years of experience as a CPA as well as an attorney, practicing in the areas of income tax planning, business succession planning, and estate and gift taxation for closely held businesses and professional firms and their owners. Samples of matters in which he has represented clients include: Design and implementation of estate planning documents, including wills, trusts, durable powers of attorney and advance health care directives designed to provide for the desired disposition of their estates while minimizing taxes and the possibilities of disputes between family members. Assisted clients in succession planning for closely held businesses, including tax advantaged transfers to family members or charitable vehicles prior to the sale of the company in order to minimize overall family taxation on the sale. Structured family limited partnership in order to transfer assets at discounted values and post transfer appreciation to family members, in order to reduce overall estate taxes. Advised clients on the use of tax advantaged strategies, such as charitable remainder trusts, private charitable foundations, grantor retained annuity trusts, irrevocable life insurance trusts, qualified personal residence trusts and structures designed to maximize the value of assets passing to younger family members in a tax free or tax deferred manner. Represented sellers of multiple privately held businesses, including advising them on the methods of structuring the sale to minimize taxes and thereby increase net proceeds received by the sellers. Assisted co-owners of a business in structuring the terms of a buy-sell agreement which was fair and equitable to both an owner who might withdraw, become disabled or die, as well as the remaining owners and the business. Consulted in the use of insurance to fund both death and disability buyouts in buy-sell agreements. Publications and Presentations Jon is a frequent presenter on estate planning, succession planning and business related tax topics. He has co-chaired and spoken at annual conferences of the California CPA Education Foundation, at the AICPA National Tax Conference, numerous study groups of the California Society of Certified Public Accountants, various accounting firms, legal groups and trade associations. He has served as an Adjunct Professor at USC in the Masters of Business in Taxation Program and has guest lectured at the UCLA Law School. Jon is the author or co-author of several business and tax related articles including: “The Insider: Well Planned and Structured Agreement Key to Successful Internal Succession,” California CPA Magazine (September 2006); “Looking Ahead: Too Often, CPAs Ignore Their Own Succession Planning Advice,” California CPA Magazine (June 2006); “Partner Compensation,” Los Angeles County Bar Update (August 2003); “Know What You’re Getting Into,” California CPA (July 2003); “Agree to Buy/Sell,” Wells Fargo Business Advisor (Sept/Oct 2000); “Mistakes in Selling a Business Can Be Costly,” Los Angeles Business Journal (November 22, 1999); “Are Your Employees Properly Classified?,” Outlook (Summer 1998); “Buy-Sell Agreements Are Crucial for Every Business,” Los Angeles Business Journal (July 27, 1998). In addition, he has been quoted in several publications including: “How To: Choose the Right Legal Structure,” Inc. (January 2009); “Looking Toward the Future Difficult for Some Firms” and “New Accounting Mantra: Recruit, Recruit, Recruit,” San Fernando Valley Business Journal (August 20, 2007); “6 Things You Must Do Today to Thrive Tomorrow,” AICPA CPA Insider (July 19, 2004); “Bullet-Proof Your Merger,” Fortune Small Business Online (May 20, 2001); “Confronting Retirement,” Journal of Accountancy (July 2000); “Partners on the Edge,” Inc. (August 1998), and "Roll-Up" Firms Want You,” Nation’s Business (July 1998). Education Jon received his J.D. from the University of Michigan in 1976. He graduated, with highest honors, with a B.S. in Finance from the University of California at Berkeley in 1973.