Webcast: Incorporating a Business (CAINCB15)
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The tax consequences related to the transfer of property to a corporation for corporate stock can be eligible for a favorable tax deferred result. Learn when and how the favorable result is accomplished. Topics considered include asset transfer for stock, the formation of a new corporation starting a new business, the incorporation of an existing business, incorporation of partnerships or LLCs, statutory entity conversions and checking the box for existing partnerships converting to a corporatio

11/6/2015
When: 11/06/2015
10:30 AM until 2:00 PM
Where: Webcast
Louisiana
United States


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Registration Fees
Members $140
Non-Members $188

CPE: 4 hours
Level: Overview
Vendor: CalCPA
Category: Taxation
Prerequisites: None
Advanced prep: None

Who should attend: CPAs and attorneys with at least two years of experience advising owners of privately held businesses; financial management and owners of privately held corporate businesses; IRS and FTB employees.

The tax consequences related to the transfer of property to a corporation for corporate stock can be eligible for a favorable tax deferred result. Learn when and how the favorable result is accomplished. Topics considered include asset transfer for stock, the formation of a new corporation starting a new business, the incorporation of an existing business, incorporation of partnerships or LLCs, statutory entity conversions and checking the box for existing partnerships converting to a corporation.

Objectives

  • Determine the requirements to qualify for tax deferral as a result of IRC 351.
  • Recognize the tax consequences of receiving something other than stock ("boot").
  • Identify and illustrate complications related to liability assumptions.
  • Recall anti-abuse rules related to transferring assets with built in losses.
  • Determine how to apply IRC 351 to transactions converting partnerships and LLCs to corporations.
  • Identify special complications related to incorporating an existing business.
  • Recognize the complications related to transfers involving both property and performance of services.


Major Topics
  • IRC 351: Qualification for tax deferred result and application of to transactions converting partnerships and LLCs to corporations
  • Tax consequences of receiving something other than stock (“boot")
  • Complications related to liability assumptions
  • Anti-abuse rules related to transferring assets with built in losses
  • Incorporating existing businesses
  • Transfer involving both property and the performance of services
  • Transfers with both corporate debt and stock received for property
  • Complication when corporation has multiple classes of stock