KEVIN C. HUSTON, EA, USTCP, MBA ChFC, CLU discusses the intricacies of buying and selling a tax practice. Among other issues, Kevin covers the following topics on this webinar:
- How to value an ongoing tax business
- How to value a client list
- When to use a broker (and when not to)
- Where to find financing
- How to pay only for returning clients using contingency clauses and stop-losses
- How to improve client retention after an ownership change
- How to determine whether the practice is a "good fit" for the buyer
- When to have covenants not to compete or client buy back clauses
- What is involved in buyer due diligence
- How to find buyers when not using a broker
- How to pick the right buyer who will be a good fit for your clients
- How to have a smooth transition
- Why confidentiality is critical to the transaction
- How you determine if you should do an asset sale or a stock sale and the tax consequences of that choice
- How you determine the assets sold, how you assign value to them, what gain or loss you might recognize on the sale and its character, and what deductible or amortizable costs you may have from the transaction
Prerequisite: None
Advanced Preparation: None
Program Level: Basic
IRS Program Number for Self-Study On-Demand Webinar: NMVBP-T-00071-17-S
Delivery Method: Self-study/On-demand
Field of Study/Credit hours: IRS: Federal Tax Law/Federal Tax Related Matters (1 Hour) NAEA: Qualifies for 1 Hour of NAEA approved CE for the extra 6 hours of CE required annually
Instructor: Kevin C. Huston, EA, USTCP Click here to learn more about the instructor.
All continuing education credit is provided through Gregory & Associates, Inc. which is doing business as Compass Tax Educators. Click here to learn more about our education policies.