WAATP hosts A Day with Surgent CPE - 2 x 4 Hour Mini Seminars

Buying and Selling a Business : Tax and Structuring Overview

and

Surgent's Mastering Basis Issues for S Corporations, Partnerships and LLCs

Date: June 21, 2023 

Time: 8:30 am - 4:30 pm

Location: Icicle Village Resort, 505 US-2, Leavenworth, WA 98826, as well as Live Streamed

Room Block: $199 / night + tax

• Room rate will be available 3 days prior and 3 days following Annual Meeting and Educational Opportunity events 
• Call into the Icicle Village Resort (  509-548-7000 ) and say you are booking a room for our WAATP event they will get you our room rate of $199 / night + tax. 
• Bring the family and make it a fun family vacation to start the summer!

Buying and Selling a Business : Tax and Structuring Overview

Date: June 21, 2023 

Time: 8:30 am - 12:00 pm

Location: Icicle Village Resort, 505 US-2, Leavenworth, WA 98826, as well as Live Streamed

Presenter : Randy Newton

Field of Study : Taxes

Level : Intermediate

Credits : 4 CE Hours depending on attendees credentials

Overview :

One of the major transactions CPA clients are faced with is the purchase or disposition of a business. To help tax professionals advise those clients, this course offers a comprehensive analysis of the business and tax aspects of buying and selling a business. It is a practical guide to help practitioners and industry CPAs understand structuring techniques. All CPAs, including controllers and executives in industry, should understand how difficult the process of buying and selling a business has become.

Major Topics:

• An overview of the beginning of the process and documents for preliminary tax planning
• Recognizing the need for due diligence in acquisitions, including checklists of important points
• Deemed asset sales – §338 and §338(h)(10)
• The impact of the §197 amortizable intangibles regulations on the acquisition and disposition of a business
• Allocating purchase price for tax advantage
• Planning to avoid double taxation under the repeal of the General Utilities doctrine
• Special problems and opportunities when an S corporation is the buyer or seller
• Installment sale and interest issues
• Avoiding tax pitfalls and recognizing tax planning opportunities
• Unique issues in buying and selling LLC/partnership interests
• Impact of the net investment income tax (NIIT) and the §199A pass-through deduction on the tax due on the sale of a pass-through entity
• Individually owned goodwill

Learning Objectives

• Understand the CPA’s role in the beginning of the transaction and throughout the process
• Identify the different tax consequences for various forms of acquired businesses
• Identify the tax consequences for sellers of various forms of businesses, including the impact of the net investment income tax (NIIT) and the §199A pass-through deduction
• Appreciate §338 and §338(h)(10) elections and the benefits of installment sales

Designed for:

All practitioners who will be involved in the sale of a business

PREREQUISITE:

A basic course in partnerships/LLCs; experience with C corporations

ADVANCED PREPARATION:

None

Pricing: CLICK HERE TO REGISTER

In Person Selection Descriptions 

8 Hours Education Package : $270

Buying and Selling a Business : Tax Structuring Overview : $170

Mastering Basis Issues for S Corporations, Partnerships and LLCs : $170

Live Stream Selection Descriptions 

8 Hours Education Package : $220

Buying and Selling a Business : Tax Structuring Overview : $140

Mastering Basis Issues for S Corporations, Partnerships and LLCs : $140

8 Hours Education Package : $240

Buying and Selling a Business : Tax Structuring Overview : $160

Mastering Basis Issues for S Corporations, Partnerships and LLCs : $160

Short Video about Seminar:

Surgent's Mastering Basis Issues for S Corporations, Partnerships and LLCs

Date: June 21, 2023 

Time: 1:00 pm - 4:30 pm

Location: Icicle Village Resort, 505 US-2, Leavenworth, WA 98826, as well as Live Streamed

Presenter : Randy Newton

Field of Study : Taxes

Level : Intermediate

Credits : 4 CE Hours depending on attendees credentials

Overview

The most difficult concepts to master when dealing with flow-through business entities are the basis and distribution concepts. Major error and malpractice issues occur if the CPA does not fully understand the impact of these rules. This course is designed to focus on the practical applications of these rules.

Major Topics:

• Coverage of the Inflation Reduction Act of 2022
• Applicable coverage of any basis considerations within any recent tax legislation enacted before the presentation
• Discuss new pass-through basis calculations required as attachments to certain individual returns
• Excess business losses and the NOL updates made by the CARES and Tax Relief Acts of 2020
• Tax Basis Capital Account Reporting Requirements
• How §179 limitations affect basis and how the “tax-benefit” rule is applied
• S corporations: Beware of final IRS regulations regarding “open debt” of S corporations; understand the effect of stock basis and debt basis and IRS’s recent focus on “at-risk basis” for shareholders; recognize how AAA applies or does not apply to certain S corporations; learn to apply the complex ordering rules and special elections that can have a big tax result; become aware of when you can have a taxable dividend in an S corporation; understand distributions of cash and property and post-termination transition rules, and temporary new TCJA post-termination rules for eligible corporations
• LLCs and partnerships: Learn the detailed rules of §704 for preventing the shifting of tax consequences among partners or members; determine how to calculate basis under both §704 and for “at-risk” under §465; recognize how recourse, nonrecourse, and qualified nonrecourse debt can create significantly different tax results; review §754 step-up in basis rules; and learn how TCJA cleans up the basis treatment of charitable contributions and foreign taxes paid

Learning Objectives

• Determine initial basis and organizing tax-free under §351 and §721
• Discuss what affects basis and how to treat distributions
• Pass the loss limitation hurdles to deduct pass-through losses

Designed for:

Accounting and Financial Professionals who prepare both individual and flow-through business entity tax returns and need a thorough grasp of these significant issues

PREREQUISITE:

Experience in business taxation

ADVANCED PREPARATION:

None

Pricing: CLICK HERE TO REGISTER

In Person Selection Descriptions 

Live Stream Selection Descriptions 

8 Hours Education Package : $220

Buying and Selling a Business : Tax Structuring Overview : $140

Mastering Basis Issues for S Corporations, Partnerships and LLCs : $140

8 Hours Education Package : $240

Buying and Selling a Business : Tax Structuring Overview : $160

Mastering Basis Issues for S Corporations, Partnerships and LLCs : $160

Updated : May 25, 2023