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Advising a Client Regarding the Tax Consequences Associated with Buying or Selling a Business (BSB3)

Friday, November 29, 2024
02:00 PM - 05:00 PM (Eastern)

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

Lance Weiss, CPA, CVA

Bob Lickwar, CPA

  • Format Webinar
  • Credits 3.00
  • Level Basic
  • Field of Study Taxes (3)

$169.00


Overview

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. Tax practitioners 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.

Major Topics:

  • Asset sales and stock sales and their attendant results to buyers and sellers
  • Section 1060 and using the residual method
  • 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

Learning Objectives

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

Who should take this course:

Tax practitioners who anticipate advising clients regarding the purchase or sale of a business

None

None

Yes

No

No

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