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Planning for Business Exits from C Corporations; Intrafamily Business Transactions; Other Developments

4 (5)

Steve Gorin, CPA

Thompson Coburn LLP

Thursday, January 30, 2020 | 02:00 PM EDT

  • CPA
  • EA

1.5 Credits

$9

Subject Area

Taxes

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Course Description

Business Exits can be proceded in multiple ways like Liquidating the Business, Selling in the family or existing partners, Selling to a strategic or financial investor, private equity or IPO etc. The Internal Revenue Code provides significant tax benefits for QSBS buyers and owners. Owners of such stock, as defined by Section 1202, can exclude up to 100% of eligible realized gain upon sale of the QSBS after meeting the five-year holding period. For investors funding startup companies, the 1202 exclusion can provide significant tax savings

Lower C corporation income tax rates have increased attention to the Code § 1202 exclusion for gain on sale of stock. In addition to the gain exclusion found in 1202, there are other tax incentives attached to small business stock ownership. 

Highlights of the webinar : 

  • How the related provisions work
  • How the provisions compared with other business exit strategies
  • Recent Tax Court case that informs intrafamily business sales and loans. 
  • IRS position regarding deducting charitable contributions that generate state tax credits for business owners.

Learning Objectives

  • How the Code § 1202 exclusion works, how it applies when a business changes from another entity to a C corporation, how it informs a C corporation’s business structure, and how it compares to other business exit strategies.
  • How to move from corporate status to a partnership once the tax benefits of being a C corporation has run its course.
  • The impact of Dynamo Holdings Ltd. Partnership v. Commissioner, T.C. Memo. 2018-61, which addresses sales and loans between businesses owned by related parties. It limits the application of a taxpayer-friendly 2009 case on business transfers but also provides hope for those with relaxed documentati
  • How states’ reactions to 2017 tax reform imposing a limit on state income tax and personal property tax deductions led to the IRS attacking state tax credits awarded for charitable contributions, which ironically resulted in a Revenue Procedure that provides favorable rules when businesses make thos

Who Should Attend?

  • Accountant
  • Accounting Firm
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Entrepreneurial CPA
  • Tax Attorney
  • Tax Firm
  • Tax Practitioners
  • Tax Pros
  • Young CPA

Testimonial

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    [average] => 4.0000
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JM

It appears that presentations can be pretty interesting with some hard work. Steve did a great job while presenting the webinar. He even solved every single query at the end of webinar. Also, shoutout to myCPE for initiating their 1 credit 1 meal program.

MM

I was able to relate some of the situations faced. The webinar was a good value for me. The presentation was very enjoyable and relevant ! Thank you for sharing a wealth of information.

PJ

It was a good presentation and content webinar. Examples were very interesting. It was full of effective learning.