23SR-0008: Buying and Selling a Business: Tax and Structuring Overview (In-person)

If you have questions about this event, please call us at 952-831-2707.

Wednesday, June 7, 2023
1:00pm - 4:30pm Central Time
4 CPE (4 technical)  |  4 IRS CE
Minnesota Society of CPAs, Bloomington

The purchase or sale of a business is one of the biggest, most complex transactions your clients will need your guidance on. Gain a comprehensive analysis of the business and tax aspects of this process so you can advise your clients properly. Look at the structuring techniques, documentation requirements, tax consequences of various scenarios, potential problems and strategies to navigate this complicated process as smoothly as possible.

Major subjects

• 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 -- Section 338 and Section 338(h)(10)
• The impact of the Section 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 and partnership interests
• Impact of the net investment income tax (NIIT) and the Section 199A pass-through deduction on the tax due on the sale of a pass-through entity
• Individually owned goodwill

Learning objective(s)

• 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 Section 199A pass-through deduction
• Appreciate Section 338 and Section 338(h)(10) elections and the benefits of installment sales
• Understand the impact of Sections 751, 743, 734 and 754 on the purchase or sale of a partnership

Who should take this program?

All practitioners involved in the sale of a business

Fees

Standard Member Fee	$209.00
Standard Nonmember Fee	$259.00