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Liquidating Business Entities: Navigating Your Way Through Corporate and Partnership Liquidations - Webinar

  • ID: 4760453
  • Webinar
  • 100 Minutes
  • Lorman Business Center, Inc.
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Gain a better understanding of the rules and issues surrounding corporate and partnership liquidations and gain insight into potential planning opportunities available with a liquidation.

Liquidations are often viewed as the end of a business operation, however, a liquidation can also be utilized to achieve tax results in an acquisition, disposition or restructuring context that can minimize up front tax implications and provide tax planning benefits going forward. We will discuss the rules, requirements and tax implications of corporate and partnership liquidations, and provide examples of when liquidations can be utilized for planning purposes or to arrive at structuring solutions.

Learning Objectives
  • You will be able to discuss the tax implications to the corporation and its shareholders in a corporate liquidation.
  • You will be able to recognize the tax implications to the partnership and its partners in a liquidation andor termination of a partnership.
  • You will be able to review and address the reporting requirements associated with a taxable and a tax free liquidation.
  • You will be able to identify potential opportunities to utilize a liquidation for tax planning or restructuring purposes.
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Corporate Liquidations
  • Liquidation Defined
  • - Taxable Liquidations Under Section 331
  • - Tax-Free Liquidations Under Section 332
  • - Reporting and Documentation Requirements
  • Utilization of Liquidation for Planning and Restructuring Opportunities
  • - Examples
Partnership Liquidations and Terminations
  • Overview of Four Typical Transactional Scenarios That End in Liquidation/Termination
  • Review the Subchapter K Governing Rules and Principles, Including:
  • - Gain and Loss Allocations
  • - Capital Account and Tax Basis Implications
  • - Basis Carryover and Holding Period Rules
  • - Asset Distributions and Partnership Divisions
  • - Section 751 Property Implications
  • Review Application of Rules as Well as Planning Opportunities in the Context of the Four Typical Scenarios
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David Gette, CPA - Baker Tilly Virchow Krause, LLP, Joseph Schlueter - Baker Tilly Virchow Krause, LLP
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This webinar is designed for accountants, tax managers, CFOs, controllers, real estate professionals, presidents, vice presidents, business owners and managers, developers, property managers, tax preparers, financial planners, and lenders.
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