Personal Goodwill in Business Transactions and Divorce Cases

Production Date: October 13, 2016 Practice Areas: Tax Law and Business, Corporate, & Securities Law Estimated Length: 3617 minutes


$ 59 Tax Law and Business, Corporate, & Securities Law In Stock

Personal goodwill is also referred to as professional goodwill since it commonly arises in professional practices. Personal goodwill is the intangible value attributable solely to the efforts or reputation of an owner and/or employee of a company. The phrase “personal goodwill” appears nowhere in the Internal Revenue Code, United States Code Annotated, or any state statute, but it has come a long way from being an obscure concept and is now a well-recognized concept in tax law.  

In this course, Roman Basi discusses goodwill and how it relates to various legal and tax issues. He explains the differences between personal goodwill and company goodwill and helps to define "goodwill" and how the concept applies to other legal issues as well as those in the tax arena. 

Learning Objectives:

  1. Define “personal goodwill”
  2. Understand the difference between corporate goodwill and personal goodwill
  3. Identify how and when to apply the concept
  4. Recognize the application of this concept in the business context
  5. Appreciate the application of this concept in divorce cases
  6. Grasp legal and tax aspects, following specific current cases
Ronald L. B.
lisle, IL

Absolutely excellent presentation

Diane P.
Portland, OR

Very solid speaker.

Bryan B.
Oakbrook Terrace, IL

nicely done....

William K.