Implications of Buying or Selling a Tax Practice

Duration: 100 minutes
Course Level: Basic
Prerequisite: None
Advanced Preparation: None
Delivery Method: Self-Study 
CPE Credits Designation Field of Study
IRS * 2 EA Federal Tax Law Topic
CTEC 2 CRTP Federal Tax Law Topic
CFP Board 2 CFP® Income Tax Planning

* NATP will report CPE credits to the IRS for all PTIN holders. CPE is currently not mandatory for RTRPs or RTRP candidates and any option to register or participate in this program is strictly voluntary.

Fees: $52 for Members and $64 for Nonmembers
Tax professionals may choose to sell a tax practice for a variety of reasons, from relocation or career change to retirement. Many factors must be considered before making a decision to sell or take over a tax practice, and tax professionals should weigh their options carefully. This on-demand webinar discusses the steps to selling and buying a tax practice and how tax professionals can prepare for the sale, whether it is a short-term need or a long-term goal.

Upon completion of this on-demand webinar, you will be able to:

  • Discuss structure of the sale.
  • Determine the proper tax treatment of various payments received upon the sale, including contingent sale payments.
  • Discuss the Form 8594, Asset Acquisition Statement under Section 1060.
  • Describe the buyer and seller due diligence responsibilities.
  • Discuss different approaches to valuing a tax practice.
  • Determine the advantages and disadvantages of a stock sale or asset sale.

Presenter: Melinda Garvin, EA

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PO Box 8002, Appleton, WI 54912-8002 Phone: 800.558.3402 Fax: 800.747.0001

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