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Tax Considerations When Buying or Selling a Business

Get a practical understanding of the tax consequences of buying or selling closely held business.

In this topic we will discuss the tax implications associated with buying or selling different entity types. We will also discuss and contrast the different options involved in these transactions from the viewpoint of the seller and buyer to allow you to understand the different potential tax outcomes.

Runtime: 100 minutes
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Purchase or Sale of a C Corporation

  • Asset vs. Equity Transactions
  • Direct vs. Indirect Acquisitions
    • Acquisition Vehicle for Indirect Acquisitions
  • Complete vs. Partial Purchase or Sale
  • Other Issues
    • Section 382
    • Section 1202

Purchase or Sale of an S Corporation

  • Asset vs. Equity Transactions
    • Section 338(h)(10) Election
    • Section 336(e) Election
  • Direct vs. Indirect Acquisitions
    • Acquisition Vehicle for Indirect Acquisitions
  • Complete vs. Partial
  • Other Issues
    • Section 382
    • Availability of Reorganization Provisions

Purchase or Sale of a Partnership

  • Asset vs. Equity Transactions
  • Direct vs. Indirect Acquisitions
    • Acquisition Vehicle for Indirect Acquisitions
  • Complete vs. Partial
  • Other Issues
    • Section 751

Other Matters

  • Due Diligence
  • State Tax Issues
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More Program Information

Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on March 26, 2020.

Call 1-866-352-9540 for further credit information.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

David Siegel, CPA

David Siegel, CPA

Cherry Bekaert

  • Director in Cherry Bekaert’s Transaction Tax practice
  • Since 1986, he has assisted taxpayers with all aspects of transaction tax matters including optimizing tax attributes, structuring transactions, due diligence, and post-merger integration involving both acquisitions and divestitures
  • Has participated in both domestic and cross-border transactions, and possesses extensive experience with manufacturing and capital intensive businesses, as well as significant tax controversy knowledge involving federal, state income and indirect tax, and foreign local jurisdiction taxes
  • Seven years of Big Four accounting firm experience, and over 20 years of experience directing corporate tax departments of large, acquisitive multinational companies
  • Before joining Cherry Bekaert, he was vice president of tax at WestRock Company for nearly six years
  • In his corporate roles, he served as corporate officer and a member of the management team responsible for tax planning, accounting, compliance, and controversy matters
Barry M. Weins, CPA, JD

Barry M. Weins, CPA, JD

Cherry Bekaert

  • Tax director with Cherry Bekaert, in the Tax Professional Practices Group with more than 32 years of tax experience
  • As a member of the Professional Practices Group his primary role is to act as a technical resource to the tax practice and assist clients throughout out the firm
  • His main area of responsibility is for corporate tax and mergers and acquisitions; this includes work in areas such as consolidated tax returns, corporate restructuring, stock basis, earning and profits, Section 382 analysis, as well as tax planning around acquisitions issues associated with S Corporations and partnerships
  • Also has responsibilities associated with internal quality control and training related to the above areas
  • Prior to becoming part of the Professional Practices Group, he provided clients with income tax planning and compliance strategies
  • His extensive experience includes providing income tax planning and compliance services for S corporations, partnerships, individuals and corporations; additionally, he has worked with individuals on trust and estate planning and income taxation issues
  • Has significant experience in state tax matters, stock basis, earnings and profits, and mergers and acquisitions
  • Has represented clients before the Internal Revenue Service at both the examination level and in the appeals office
  • Prior to joining Cherry Bekaert, he was a principal in the tax department at Aidman, Piser, serving midmarket businesses, entrepreneurs and publicly traded corporations, and served as a senior tax manager in the Fort Lauderdale office of a Big Four accounting firm
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Why Lorman?

Over 33 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

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Questions? Call 877-296-2169 to speak with a real person.

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Product ID: 407133
Published 2020
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