On Demand Audio

Personal Goodwill in Business Transactions and Mergers and Acquisitions

(179 reviews)

Produced on November 05, 2018

Taught by
$ 59 Business, Corporate, & Securities Law In Stock
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Course Information

Time 61 minutes
Difficulty Intermediate

Course Description

Join attorney Roman Basi as he discusses the concept of “personal goodwill” and how it relates to specific legal and tax issues. Personal goodwill is sometimes referred to as professional goodwill since it commonly arises in professional practices, though it is an intangible value attributable solely to the efforts or reputation of an owner and/or employee of a company. The phrase appears nowhere in the Internal Revenue Code, United States Code Annotated, or any state statute, but is no longer an obscure concept and is now a well-recognized concept in tax law.

Mr. Basi will address differences between personal goodwill and company goodwill and help to define “goodwill” and how the concept applies to legal issue and tax issues in business, including in mergers & acquisitions. 

Learning Objectives:

  1. Define “personal goodwill”
  2. Recognize difference between corporate goodwill and personal goodwill
  3. Identify how and when to apply the concept
  4. Apply this concept in the business context, including M&A
  5. Break down the legal and tax implications, following specific current cases

Credit Information

After completing this course, Lawline will report your attendance information to {{ accredMasterState.state.name }}. Please ensure your license number is filled out in your profile to ensure timely reporting. For more information, see our {{ accredMasterState.state.name }} CLE Requirements page . After completing this course, {{ accredMasterState.state.name }} attorneys self-report their attendance and CLE compliance. For more information on how to report your CLE courses, see our {{ accredMasterState.state.name }} CLE Requirements FAQ .


Roman Basi

The Center for Financial, Legal & Tax Planning, Inc.

Roman Basi graduated from Millikin University in 1997 with a Bachelor’s of Science Degree. In addition, Roman holds a Master’s in Business Administration and Juris Doctor from Southern Illinois University. Roman is a licensed Attorney in the states of Illinois, Missouri and Florida. Roman is a licensed Real Estate Broker in the State of Illinois. Roman is also a licensed Title Insurance Agent with Attorney Title Guaranty in Illinois. He is currently working towards obtaining his CPA license.

Roman has been published in the following trade journals:

   * Illinois State Bar Association - Section on Federal Taxation

   * Productivity

   * Agency Sales

   * Industrial Distribution

   * Supply House Times

   * Distributor Link

   * I.D.A. Management Journal

Roman is a member of the following organizations:

   * Illinois Bar Association

   * Federal Taxation Section Council

   * Florida Bar Association

   * National Association of Realtors

   * Illinois Association of Realtors

   * Egyptian Board of Realtors

   * Marion Chamber of Commerce

   * Marion Main Street


Trent T.

Solid introductory course on the subject.

Atinuke S.

Very informative.

Taylor W.

I enjoyed the program.

Robert S.

If you are doing a lot of business transactions this program is a must

R. Christopher R.

Roman's seminars are always top notch.

Ana M.

Very efficient presenter. Effective use of examples.

Michael O.

Probably the best course I have participated in at Lawline. Perfectly pitched and very good background explanations. Great teacher!

Diane M. C.

Like his father, terrific speaker/educator!!

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