Taxation of the Sale / Purchase of a Business (scheduled webinar)

  • Credits: 4
  • Format: Scheduled Webinar
  • Field of Study: Federal Tax Law
  • Author/Speaker: Sheldon Clark

*Content Preview
Available Formats:          
Advanced Preparation: Access to a computer with speakers or a headset.
Experience Level: Overview
Program Prerequisites: Basic knowledge of capital assets and the reporting requirements of sales and purchases
Course ID: EWTFM-T-01852-21-O | 6233-CE-0565
Published Date: September 2021

COURSE DESCRIPTION

This 4-hour webcast will provide attendees with an overview of the unique tax aspects related to selling or purchasing a business. We will discuss various related Sections of the Internal Revenue Codes, certain tax forms and what goes on them, potential pitfalls, and a wide variety of other topics.

Topics include:
  • Overview
  • Reporting requirements
  • Capital asset defined
  • Assumption of liabilities
  • Sec. 1231 property
  • Sec. 1245 property
  • Sec. 1250 property
  • Sec. 1244 losses on small business stock
  • Sec. 1060 special allocation rules
  • Sec. 197 amortization of goodwill and other intangibles
  • Installment sales
  • Various depreciation issues

Learning Objectives:

After reading the course material, you will be able to:

  • Recognize the taxation uniqueness
  • Be knowledgeable and conversant about selected tax aspects of sellers and purchasers of a business
  • Be able to become aware of situations requiring further research

Who Should Attend:
  • All Certified Public Accountants (CPAs)
  • Enrolled Agents (EAs)
  • Other Tax Return Preparer (OTRP)
  • Practitioners who want a good overview as to tax considerations when contemplating the sale or purchase of a business.

Qualifies and Approved with all State Boards of Accountancy and the following sponsorships:
NASBA
IRS
CTEC