Advising Clients Who Are Buying or Selling a Small or Medium-sized Business (BSEL)

Most small and medium-sized businesses are organized as Schedule Cs, S corporations or limited liability companies treated for federal tax purposes as partnerships. When these businesses are sold, the buyer will purchase an interest in an LLC, stock in an S corporation, or the assets of a business. This program discusses the tax impact on both buyer and seller when either an interest is a business entity is purchased or assets of the business are sold.

• Tax advantages and disadvantages to buyer and seller of an asset sale as opposed to a  stock sale or sale of an interest in an LLC treated as a partnership
• Tax treatment of consulting agreements and covenants not to compete
• Sale of personal goodwill associated with an asset sale
• Tax consequences associated with the sale of a partnership/LLC interest
• Non-tax issues that must be considered when a business is sold
• Special rules related to installment sales and hot assets

• Advise purchasers of business assets or an interest in an S corporation or an LLC treated as a partnership
• Advise business owners of the tax consequences associated with the sale of their stock in an S corporation, LLC interests or business assets