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.
DESIGNED FOR
Accounting and finance professionals who anticipate advising clients regarding the purchase or sale of a business
BENEFITS
- Advise clients regarding the tax aspects associated with buying and selling a business
HIGHLIGHTS
- 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
PREREQUISITES
None
ADVANCE PREPARATION
None
ADDITIONAL NOTES