Surgent's Buying and Selling a Business: Tax and Structuring Overview
Overview
One of the major transactions CPA clients are faced with is the purchase or disposition of a business. To help tax professionals advise those clients, this course offers a comprehensive analysis of the business and tax aspects of buying and selling a business. It is a practical guide to help practitioners and industry CPAs understand structuring techniques. All CPAs, including controllers and executives in industry, should understand how difficult the process of buying and selling a business has become.
Delivery Method: Individual webcast
CPE Credit: Taxes
Program Level: Intermediate
This course is being offered by a 3rd party vendor and will not be accessible on your My CPE page. Webinar access information will be emailed directly to you by Surgent McCoy.
Highlights
- An overview of the beginning of the process and documents for preliminary tax planning
- Recognizing the need for due diligence in acquisitions, including checklists of important points
- Deemed asset sales – §338 and §338(h)(10)
- The impact of the §197 amortizable intangibles regulations on the acquisition and disposition of a business
- Allocating purchase price for tax advantage
- Planning to avoid double taxation under the repeal of the General Utilities doctrine
- Special problems and opportunities when an S corporation is the buyer or seller
- Installment sale and interest issues
- Avoiding tax pitfalls and recognizing tax planning opportunities
- Unique issues in buying and selling LLC/partnership interests
- Impact of the net investment income tax (NIIT) and the §199A pass-through deduction on the tax due on the sale of a pass-through entity
- Individually owned goodwill
Prerequisites
A basic course in partnerships/LLCs; experience with C corporations
Designed For
All practitioners who will be involved in the sale of a business
Objectives
- Understand the CPA’s role in the beginning of the transaction and throughout the process
- Identify the different tax consequences for various forms of acquired businesses
- Identify the tax consequences for sellers of various forms of businesses, including the impact of the net investment income tax (NIIT) and the §199A pass-through deduction
- Appreciate §338 and §338(h)(10) elections and the benefits of installment sales
- Understand the impact of §§751, 743, 734, and 754 on the purchase or sale of a partnership
Preparation
None
Leader(s):
Leader Bios
Michael Frost
Mike Frost, CPA, of Jacksonville, Alabama, provides tax consulting, continuing education, and motivational speaking services through his company, Mike Frost Enterprises. Mike is a former shareholder of MDA Professional Group, PC, where he managed the tax department of the Albertville office. Mike has 30 years of experience in public accounting, including but not limited to: Business and individual income tax preparation and planning; mergers and acquisitions; estate, gift, and trust tax preparation; small business consulting; Medicare planning and other elder care; audit representation; and religious groups and clergy.
Mike has conducted CPE engagements and seminars throughout the United States and has served as technical advisor for tax articles in The Sand Mountain Reporter, a local newspaper. Mike has been a featured presenter at the Alabama Society of CPAs Annual Meeting and the Federal Tax Clinic held annually at the University of Alabama in Tuscaloosa.
Mike graduated with "high honors and distinction" from Jacksonville State University with a major in accounting and a minor in finance and a 4.0 GPA. He is a member of the American Institute of Certified Public Accountants and the Alabama Society of Certified Public Accountants. In addition, he is a graduate of the Tax Planning and Advising for Closely Held Businesses Certificate of Educational Achievement Program sponsored by the AICPA.
Non-Member Price $167.00
Member Price $159.00