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Overview

8.0 Credits

This course presents a unique ‘hands-on’ opportunity to understand the tax aspects of the decision-making process that a business owner must undertake throughout the life cycle of the business. The session begins with the class agreeing to a basic set of facts about the business -- its products and services, number of owners, and so on. From there we will proceed through a discussion of key life cycle decisions and their tax-oriented alternatives, beginning with choice of entity and moving through additional key decisions affecting the operation, maturation, and growth of the business. The day culminates with an exercise in which teams of participants will independently negotiate the terms of a sale of the mature business, based upon a final set of facts agreed to by the class as a whole. The most fascinating aspect of this exercise is watching the class react to just how different the final sales terms can be for each team. A highly interactive and participatory way to expand your understanding in this complex area.

Objectives

  • Be able to articulate and apply a structured process for evaluating a decision in light of the business’s unique circumstances and determining the best alternatives from a tax standpoint

Major Topics

  • Choice of entity considerations
  • Current compensation and fringe benefits
  • Business expansion
  • Multi-state tax implications
  • Pension plans and nonqualified deferred compensation
  • Asset acquisition within the operating company or a separate entity or leasing
  • Tax accounting methods, including issues of inventory and depreciation
  • Negotiation of terms of sale

Designed For

CPAs who advise client business entities or their own firm on the tax-oriented aspects of business decision making

Prerequisite

Some experience in, and a working knowledge of, the fundamental principles of business taxation

You will receive an email from Surgent CPE with instructions to download this product.