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Tax Considerations for Buying and Selling a Business (4152549C)
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"We'll review the options for structuring a sale from both the buyer's and seller's perspectives with the purpose of minimizing tax cost and consider the sale of C corps, S corps and partnerships to aid you in planning the sales transaction and determining the value of using a partnership or S corp to conduct the business. Also, we'll cover topics that are not routinely considered in a tax compliance practice, but are important to the sale of a business. "

12/11/2015
When: 12/11/2015
9:30 AM - 5:30 PM
Where: Webcast/Webinar
Presenter: John G. McWilliams, CPA, JD
Contact: April Deneault
801-834-6634


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We'll review the options for structuring a sale from both the buyer's and seller's perspectives with the purpose of minimizing tax cost and consider the sale of C corps, S corps and partnerships to aid you in planning the sales transaction and determining the value of using a partnership or S corp to conduct the business. Also, we'll cover topics that are not routinely considered in a tax compliance practice, but are important to the sale of a business.
 


  Objectives:



    Recognize tax planning opportunities for selling a business.
    Identify the tax consequences of using employment and consulting agreements, covenants not to compete, personal goodwill and contingent sales price.
    Recall how to treat acquired intangibles (IRC 197).
    Identify the basics of Section 754 and Section 338 elections.
    Determine how to best transfer ownership to employees.

 
  
  
        
   

Major Subjects:

   


    Taxable asset sales and sale of stock of corporation
    Comparison of tax consequences of C corps, S corps and partnerships
    Tax treatment of transaction costs of acquired intangibles: IRC 197
    Seller consulting and employment agreements
    Installment sales
    Stock redemptions
    Using an employee stock ownership plan
    Using tax deferred acquisitive corporate reorganizations
    Net operating losses and tax credits of acquired corporate business
    Section 1202; Stock Section 1244; the basics of stock Section 754 elections; and Section 338 and 338(h)(10) elections
    

              

Designed For: CPAs and attorneys who have at least two years of experience advising owners of privately owned businesses.
 

Prerequisite:   An understanding of the taxation of corporations, S corporations and partnerships.

Advanced Prep:  None

Speaker: John G. McWilliams, CPA, JD

Vendor: CalCPA

Field of Study:     Taxes

Level:  Intermediate

CPE Credit: 8 Hours

Acronym:   TXCB

 

Registration Fees:

Members: $275

Nonmembers: $375

 

Meet the Speaker:

John McWilliams, CPA, JD is Professor of Accounting at Golden Gate University. Previously he was a Professor of Accounting at San Francisco State University. He began his career as a tax adviser with a Big Four CPA firm. For more than 30 years, while teaching, he has been a tax adviser to lawyers and CPAs regarding the tax matters of their clients. Areas of expertise include tax issues related to buying and selling privately held businesses, financially troubled businesses, business restructuring and reorganization and ownership succession to employees or family members. Mr. McWilliams is active in CalCPA, having served as president of the San Francisco Chapter, chair of the Financial Literacy Initiative, a member of the CalCPA Board of Directors serving as Vice Chair. He is currently a member of the Taxation Committee, the Financial Literacy Committe, and the Accounting Education Committee. He has served as a California representative to the AICPA Council and is currently a member of the AICPA Financial Literacy Commission. Mr McWilliams is author of two chapters of the CCH Expert Treatise Library : Federal Taxation of Corporations & Shareholders.

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