Webcast: Understanding the Section 338(h)(10) Election (XSS33817)
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When a taxpayer is ready to purchase a business, he will generally prefer to acquire assets, so as to achieve a stepped-up basis in the assets and increased depreciation and amortization deductions. For various non-tax reasons, however, the taxpayer will often be required to purchase the target's stock, rather than assets. In qualifying situations, a taxpayer may achieve the best of both worlds: A taxpayer who purchases a target's stock for legal purposes may elect under Section 338(h)(10) -- w

 Export to Your Calendar 9/22/2017
When: 09/22/20017
12:00 PM until 2:00 PM
Where: Webcast
SURGENT
S338-2017-01-WEBNR-265-01
United States
Presenter: Tony Nitti, CPA


Online registration is available until: 9/20/2017
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Acronym XSS33817
CPE 2 hours
Vendor Surgent
Category
Taxation
Level Basic
Prerequisite None
Adv Prep None
Yellow Book? No
Designed for CPAs, EAs, tax attorneys, and other tax professionals in public practice or industry looking to learn the basics of Section 338(h)(10)
Registration
Member $89
CPA Non-Member $114

The Member rate applies to LCPA members, other state society members, and non-CPA staff of LCPA members. To register online, use the ‘Register’ button above. To register by phone, call the LCPA Member Service Center at 800.288.5272 or 504.464.1040, Monday through Friday, 8am to 5pm.

Course Description

Master Section 338(h)(10) to achieve tax savings in buy-sell situations. When a taxpayer is ready to purchase a business, he will generally prefer to acquire assets, so as to achieve a stepped-up basis in the assets and increased depreciation and amortization deductions. For various non-tax reasons, however, the taxpayer will often be required to purchase the target's stock, rather than assets. In qualifying situations, a taxpayer may achieve the best of both worlds: A taxpayer who purchases a target's stock for legal purposes may elect under Section 338(h)(10) -- with the cooperation of the seller -- to be treated as having acquired the target’s assets for tax purposes. This election can be invaluable to the buyer while also providing benefit to the seller. Presented by business taxation expert, author, and educator Tony Nitti, CPA, MST, this two-hour online CPE webinar provides a thorough deconstruction of the Section 338(h)(10) election, including election mechanics, when the election can be made, and the resulting tax consequences. In addition, Nitti will discuss how to true-up the target for any increase in tax, as well as how to handle installment sales. All tax preparers, accountants, attorneys and financial planners who advise S or C corporation clients will benefit from this practice-oriented seminar. And, to reinforce your understanding and get help on your most pressing issues, you will have opportunities to ask questions directly to Mr. Nitti live via email during the program.

Objectives

  • Identify opportunities to make a Section 338(h)(10) election
  • Quantify the tax consequences of a Section 338(h)(10) election

Topics

  • Understanding why a Section 338(h)(10) election exists
  • Identifying a "qualified stock purchase"
  • Identifying qualifying purchasers
  • Identifying qualifying targets
  • Understanding the tax consequences to seller, seller's shareholders, and buyer
  • Learning when and how to true-up a seller
  • Dealing with the installment sale rules
  • Understanding step-transaction implications
  • Understanding election mechanics
  • Identifying opportunities for Section 336(e) elections