On Demand

Personal Goodwill in Business Transactions and Mergers and Acquisitions

1h 1m

Created on November 05, 2018




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

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