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

Robert Lickwar, CPA, Lance Weiss, CPA, CVA, Michael J. Tucker, CPA, LL.M. (moderator)
  • 3
  • Intermediate
  • Taxes

3-hr. course: $89; 4-hr. course: $129
Volume Discounts:Click here for details.

Overview

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.

Major Topics:

  • 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

Learning Objectives

  • 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

Tax practitioners advising sellers and buyers of businesses

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None

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Varies by state. Click here for details