Tax Planning-Buying and Selling C Corporations 2024
2.00 Credits
Member Price $89
Non-Member Price $119
Overview
Review options for structuring the sale of a C corporation business from both buyer’s and seller’s perspectives to minimize tax costs. This course covers topics not routinely considered in a tax compliance practice but essential to the sale of a C corporation business.
Highlights
- Taxable asset sales, sale of stock of the corporation and stock redemptions
- Tax treatment of transaction costs of acquired intangibles, IRC 197
- Seller consulting and employment agreements
- Installment sales
- Sales of stock to Employee stock ownership plan
- Tax-deferred acquisitive corporate reorganizations
- Net operating losses and tax credits of acquired corporate business
- The basics of stock sales eligible for Sec. 1202 and Section 1244
Prerequisites
None
Designed For
CPAs, CFOs, and other finance professionals interested in the topic.
Objectives
- Recognize tax planning opportunities for selling a C corporation business
- Identify the tax consequences of using employment and consulting agreements, covenants not to compete, personal goodwill and contingent sales price
- Recognize special installment sale rules applicable C corporation asset sale and corporate liquidation.
- Identify the basics of acquisitive reorganization
- Recognize the rules related to the allocation of purchase among assets acquired
Preparation
None
Leader(s):
Leader Bios
John McWilliams, CalCPA Education Foundation
<b.John McWilliams, CPA, JD, is Professor of Accounting at Golden Gate University. Previously he was a Professor of Accounting at San Francisco State University. He began his career as a tax adviser with a Big Four CPA firm. For more than 30 years, while teaching, he has been a tax adviser to lawyers and CPAs regarding the tax matters of their clients. Areas of expertise include tax issues related to buying and selling privately held businesses, financially troubled businesses, business restructuring and reorganization and ownership succession to employees or family members. Mr. McWilliams is active in CalCPA, having served as president of the San Francisco Chapter, chair of the Financial Literacy Initiative, a member of the CalCPA Board of Directors serving as Vice Chair. He is currently a member of the Taxation Committee, the Financial Literacy Committe, and the Accounting Education Committee. He has served as a California representative to the AICPA Council and is currently a member of the AICPA Financial Literacy Commission. Mr McWilliams is author of two chapters of the CCH Expert Treatise Library : Federal Taxation of Corporations & Shareholders.
Non-Member Price $119
Member Price $89