Surgent's Complete Guide to Liquidation of Business Entities

 

   

 

 
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Overview

12.0 Credits

Liquidations may be used as an alternative to the sale of a business or as an adjunct to the sale of business assets. The objective of this course is to fully explore the technical tax and business issues in liquidating C corporations, S corporations, partnerships, and limited liability companies. This unique course is essential for anyone planning to sell a business.

Objectives

  • Describe the tax consequences to a corporation and its shareholders on a complete liquidation and the alternatives to a liquidation
  • Understand the particular issues in the liquidation of an S corporation
  • Consider the options available on the complete liquidation of a partnership or LLC

Major Topics

  • The unique planning opportunities and tax traps involved in the liquidation of a business entity
  • Understanding installment sales and the big hurdles to favorable tax treatment in liquidation
  • Filing Form 966: it's more important than you think
  • An analysis of when liquidation is advisable - now or later?
  • Strategies to pursue in light of the tax rates on dividends and capital gains
  • The special problems of liquidating Subchapter S corporations
  • Key planning issues and benefits in liquidating partnerships and limited liability companies

Designed For

CPAs in public accounting and industry involved in business entity liquidations

Prerequisite

A basic course in partnerships/LLCs, S corporations, and C corporations
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