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Live Webcast Replay

Business Gifts When Selling a Business


Total Credits: 1 including 1 Taxes - Technical

Average Rating:
   3.5
Category:
Partner Produced |  Tax
Faculty:
Steve Gorin, CGMA, CPA, JD
Course Levels:
Basic
Duration:
1 Hour
License:
Access for 30 day(s) after program date.

Dates



Description

When selling a business, a business or its owners may wish to share some of the bounty with employees or other service providers. What is the most tax-efficient way to do so?

Basic Course Information

Learning Objectives
  • Identify when payments to employees and other service providers constitute income to the recipients, including a review of a 2020 tax court case
  • Identify how grossing up an employee for taxes may avoid a net income tax cost, when it does not avoid a net income tax cost, and how that might compare to gift tax issues
  • Recall how nonqualified deferred compensation rules interact with this gross-up idea
  • Identify how issuing a profits interest may avoid these tax issues

Major Subjects
  • “Gift” to Service Providers
  • Case Studies
  • Compensation vs. Gift to Employees

Course Materials

Faculty

Steve Gorin, CGMA, CPA, JD Related seminars and products: 1


Steve Gorin has drafted trusts and a full range of estate planning documents for clients to help grow, preserve, and transmit their family wealth. He has also drafted organizational documents for limited liability companies, corporations, and partnerships to implement their owners' wishes regarding current and future control and transmission, including bringing in new owners and facilitating exit strategies.

Steve enjoys helping clients structure their affairs to achieve their personal, business, and financial goals while trying to reduce the drag that taxes impose on them. His firm provides full service to businesses; however, he also acts as counsel on specialized matters while cooperating and facilitating the continued involvement of an existing legal, accounting, and financial services team. Steve maintains his CPA license but prefers to refer income tax returns to practicing CPAs.

For more about Steve, see http://thompsoncoburn.com/people/steve-gorin.  For a list of free resources, including quarterly update of the over-2600 pages of materials included with this webinar, see https://www.thompsoncoburn.com/insights/blogs/business-succession-solutions/about.

Steve Gorin is the former president and an ongoing contributor to strategic initiatives of Covenant Place, a senior affordable housing community with a groundbreaking model for integrated residents with the surrounding community and facilitating holistic services to enrich their lives.  See https://covenantplacestl.org and https://mirowitzcenter.org/services/on-site-providers.


Dates

Fri, Mar 19, 2021 - 09:00am to 10:03am MDT
Wed, Apr 28, 2021 - 09:00am to 10:03am MDT
Mon, May 17, 2021 - 07:00am to 08:03am MDT
Tue, Jun 29, 2021 - 07:00am to 08:03am MDT
Wed, Jul 21, 2021 - 07:00am to 08:03am MDT
Thu, Aug 26, 2021 - 02:00pm to 03:03pm MDT
Fri, Sep 17, 2021 - 10:00am to 11:03am MDT
Tue, Oct 26, 2021 - 10:00am to 11:03am MDT
Tue, Nov 16, 2021 - 07:30am to 08:33am MST

Additional Info

Basic Course Information

Prerequisites None
Advanced Preparation None
Designed For

Attorneys, CFOs/Controllers, CPAs, and Enrolled Agents


Original Recording Date 11/20/2020
Yellow Book No
Course Developer

MICPA


Date Added to Catalog 10/28/2020

Additional Information

Complaint Resolution Policy

Please contact Anne Taylor for any complaints.  anne.taylor@acpen.com, (972-377-8199).


Official Registry Statement

Business Professionals' Network, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org


Instructional Delivery Method

Group Internet Based


Course Registration Requirements

Online Registration


Refund/Cancellation Policy

Please contact the ACPEN help desk 1-877-602-9877 or help@acpen.com if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer.


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Overall:      3.5

Total Reviews: 2

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