Description

Buying and selling a business can be a complex transaction with many tax issues. These issues include whether the transaction is or should be a stock or an asset sale when the business involved is a corporation, as well as the tax consequences associated with the sale of a partnership or a C or S corporation.

Accounting and finance professionals who advise clients who are buying or selling a business primarily focus on the tax issues that apply. This program explains and analyzes the tax issues practitioners must address in order to properly advise clients who are either buyers or sellers of businesses.

Instructor: Mike Tucker, Ph.D., LL.M., J.D., CPA

Target Audience

Accounting and finance professionals who anticipate advising clients regarding the purchase or sale of a business

Course Objectives

Advise clients regarding the tax aspects associated with buying and selling a business

Subjects

Due diligence checklist items

Asset sales and stock sales and their attendant results to buyers and sellers

Section 1060 and the residual method

Selling sole proprietorships, partnerships, and corporations

Consequences of making a Section 754 election with adjustments under Sections 743(b) and 734(b)

Section 338 and Section 338(h)(10) elections

Allocating some of the purchase price of a business to personal goodwill

Partnership distributions to retiring partners under Section 736(a) and 736(b)

Consulting agreements and employment agreements as between buyers and sellers

Advantages of a C corporation having Section 1202 stock