Tax Planning When Preparing to Sell A Business (Update)
Created on November 15, 2019
Assisting a client with selling their business can be a complicated task - add in the tax consequences that they may be facing and you may be in over your head if you are not familiar with the process and the planning that needs to take place.
Roman A. Basi, who is an attorney, CPA, registered real estate broker, and President of The Center for Financial, Legal & Tax Planning, Inc., presents the fundamental concepts of selling a business with real case examples of the strategies that are used to help minimize the tax implications to business owners across the U.S.
This lecture explains in detail the structure of the transaction of selling or transferring a business and how best to minimize the tax liabilities that are created. Roman also provides different methods that can be employed to defer taxes, protect interests, and ultimately advocate for the best possible position for your client.
- Examine the different corporate structures and how they play a role in planning for the sale or transfer of a company (S Corporation vs. C Corporation vs. LLC vs. Disregarded Entity)
- Identify the different methods of how to transfer a business (asset sale vs. stock sale vs. various mixed methods)
- Become familiar with installment sales and tax deferrals
- Discuss the different classification of taxes that will apply (ordinary income/capital gains/recapture)
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