Total Credits: 8 including 8 Taxes
There’s a lot to consider when buying or selling a business: representations, covenants and indemnities regarding taxes; taxable versus non-taxable acquisition forms; capital gains versus ordinary income; amortization of intangibles; penalty taxes for excess “parachute” payments and possible exceptions; non-qualified deferred compensation programs and penalty taxes for non-compliance; possible limitations on target company losses; triggering built-in gains into income. And, there are significant dollars at stake in what may be one of the biggest transactions your client will ever undertake. Our panel of experts will make sense of it all for you!
One of the most important ways that CPAs can assist their clients is in the sale or purchase of a business. There are many details that must be considered and executed. Our panel of experts will explain the process from beginning to end.
**Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to firstname.lastname@example.org.
*Valuation of the Target entity and the issue of personal goodwill
*Don’t buy an employment tax problem
*The accountant’s role in the due diligence process: representations, covenants, indemnity and escrow—regularly encountered issues
*Taxable sales of stock and assets
*The importance of the 754 election and the disguised sale rules in sales of partnership interests
*Special problems encountered in the sale of an S corporation and structures to address those issues
*Non-taxable acquisitive reorganization structures and variations using single member LLCs
*Purchase Price Adjustments
*Earnouts and Related Installment Sale Issues
*Purchase Price Allocation
*The Current State of Personal Goodwill
*S Corp and Partnership Issues
|Important CPE Credit Instructions_READ BEFORE WEBCAST UPDATED (0.47 MB)||Available after Purchase|
C. Clinton Davis, JR. practices law in the Dallas, Texas law firm of Krage & Janvey, L.L.P. He was licensed in Texas in 1982, has been Board Certified in Tax Law by the Texas Board of Legal Specialization since 1988 and is a member of the College of the State Bar of Texas. He has also been licensed as a Certified Public Accountant in Texas since 1980 and as an attorney in Florida since 1980. Mr. Davis attended law school at Southern Methodist University and received his Juris Doctor degree, cum laude, in 1980. At SMU, Mr. Davis was selected to membership in the Order of the Coif, an honor society limited to graduates in the top 10% of the graduating class. Mr. Davis received his bachelor of science degree in accounting from Northwestern State University of Louisiana where he graduated first in his class. Mr. Davis is a frequent speaker at CPE programs and conferences. He is the author of the TSCPA programs Principles of LLC and Partnership Taxation: An Introduction to Subchapter K, Navigating the LLC and Partnership Allocation and Basis Minefield, and LLC and Partnership Taxation for the Sophisticated Practitioner.
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