Buying and Selling a Business: Tax and Structuring Overview
Wednesday, June 07, 2023
8:30am - 12:00pm (opens at 8:00am) EST
4Credits
Accounting and Auditing and Technical Business
Registration is Closed
Online registration for this course is now closed. Please contact the Member Service Center at (800) 342-3197 if you wish to inquire about registering.
Members
$164.00 Regular Price
Non-Members
$229.00 Regular Price
Course Type: CPE Seminars
Course Code: 23/SEL46WS
Level: Intermediate
Vendor: Surgent
Field of Study: Taxes
Overview:
One of the major transactions CPA clients are faced with is the purchase or disposition of a business. To help tax professionals advise those clients, this course offers a comprehensive analysis of the business and tax aspects of buying and selling a business. It is a practical guide to help practitioners and industry CPAs understand structuring techniques. All CPAs, including controllers and executives in industry, should understand how difficult the process of buying and selling a business has become.
Objectives:
- Understand the CPA’s role in the beginning of the transaction and throughout the process
- Identify the different tax consequences for various forms of acquired businesses
- Identify the tax consequences for sellers of various forms of businesses, including the impact of the net investment income tax (NIIT) and the §199A pass-through deduction
- Appreciate §338 and §338(h)(10) elections and the benefits of installment sales
- Understand the impact of §§751, 743, 734, and 754 on the purchase or sale of a partnership
Presenters:
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Don Paul Cochran
Don Paul Cochran, JD, CPA, CFP®, CRC® Don Cochran is a solo practitioner in Apple Valley, Minnesota. His 30 years of practice has been focused primarily in the areas of small business legal and tax consulting, and individual tax, estate, and financial planning. Don has practiced law in both Iowa and Minnesota, was a CPA with the Small and Emerging Business practice of then Big 8 accounting...
Read more about Don Paul Cochran here
Presenters:
Don Paul Cochran
Don Paul Cochran, JD, CPA, CFP®, CRC® Don Cochran is a solo practitioner in Apple Valley, Minnesota. His 30 years of practice has been focused primarily in the areas of small business legal and tax consulting, and individual tax, estate, and financial planning. Don has practiced law in both Iowa and Minnesota, was a CPA with the Small and Emerging Business practice of then Big 8 accounting...Read more about Don Paul Cochran hereMajor Topics:
- An overview of the beginning of the process and documents for preliminary tax planning
- Recognizing the need for due diligence in acquisitions, including checklists of important points
- Deemed asset sales – §338 and §338(h)(10)
- The impact of the §197 amortizable intangibles regulations on the acquisition and disposition of a business
- Allocating purchase price for tax advantage
- Planning to avoid double taxation under the repeal of the General Utilities doctrine
- Special problems and opportunities when an S corporation is the buyer or seller
- Installment sale and interest issues
- Avoiding tax pitfalls and recognizing tax planning opportunities
- Unique issues in buying and selling LLC/partnership interests
- Impact of the net investment income tax (NIIT) and the §199A pass-through deduction on the tax due on the sale of a pass-through entity
- Individually owned goodwill
Major Topics:
- An overview of the beginning of the process and documents for preliminary tax planning
- Recognizing the need for due diligence in acquisitions, including checklists of important points
- Deemed asset sales – §338 and §338(h)(10)
- The impact of the §197 amortizable intangibles regulations on the acquisition and disposition of a business
- Allocating purchase price for tax advantage
- Planning to avoid double taxation under the repeal of the General Utilities doctrine
- Special problems and opportunities when an S corporation is the buyer or seller
- Installment sale and interest issues
- Avoiding tax pitfalls and recognizing tax planning opportunities
- Unique issues in buying and selling LLC/partnership interests
- Impact of the net investment income tax (NIIT) and the §199A pass-through deduction on the tax due on the sale of a pass-through entity
- Individually owned goodwill
Designed For:
All practitioners who will be involved in the sale of a business
Prerequisites:
A basic course in partnerships/LLCs; experience with C corporations