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Defined Value Clauses; S Corp. Distribution of Property; Traps Donating a Business to Charity

Webinar

In this webinar the presenter will discuss defined value clauses to reduce risk when transferring hard-to-value assets, the consequences of converting from an S corporation to a partnership, and issues to consider when donating a business to charity.

Attendees will learn:

  • Why and when to use defined value clauses;
  • How to use a clause that defines the purchase price;
  • The surprising scope of ordinary income recognition when converting from an S Corporation to a partnership;
  • How to migrate from an S corporation to a partnership without generating income tax; and
  • Ways to manage reductions in deductions and taxes that may be triggered when donating a business interest to charity.

CLE
The live presentation of this program was approved for 1.0 hour general CLE credit in California and Illinois and 1.2 hours of general CLE credit in Missouri. The recording of this program is eligible for 1.0 hour general CLE credit in Illinois. To receive credit after watching the recording, please complete and submit the verification form.

Presenter:
Steve Gorin

Steve's 3rd Quarter 2017 newsletter is available here.

Originally Presented:
October 31, 2017