This unique course will guide you through the ins-and-outs of forming a business - see detailed topics below.

Topics & Learning Objectives Include:

• Determining who owns the business and the legal structure for same:
  
• Legal and Tax Considerations for entity classification
• Liquidity aspect - Timing matters: Spreading liquidation across tax years can manage tax brackets and losses
• Where to incorporate business to take advantage of tax laws
• Considerations for Entity Documents Before Suit Arises
• Accurate record keeping
• Alternative remedies to filing a lawsuit – i.e. mediation and arbitration
• Mechanics of a business dispute litigation
• Consequences and possible remedies for tax issues identified during dispute litigation
• Shareholder derivative suits 
• Director and officer fiduciary duties:
• Personal responsibility for trust funds
• Consider role/involvement in audits 
• Receivership vs. custodian – tax implications
• Tax consequences of settlement:
• Understanding the Tax “Origin of the claim” test
• Consequences for both the prevailing party vs. the non- prevailing party responsible for settlement payment
• How are settlement proceeds allocated – i.e. tax treatment/categorization of settlement proceeds
• Structuring settlements for tax optimized results
• What to know about how parties will share in tax costs/revenue received after business dispute ends
• How to maximize future tax savings after business dispute
• Are punitive damages awards taxable?
• How are the tax consequences affected by the “loss” that the settlement is intended to replace – i.e. lost profits
• What happens if you are a shareholder of a corporation you are suing and the costs of defending the litigation is being funded with the corporation’s money? Is there some sort of set-off?
• What documents will your accountant need to prepare your tax return after litigation has ended?
• What is there is a shareholder buyout?
• What if the company is dissolved?
• Are attorneys’ fees deductible?
• Closely-held businesses often have poorly documented basis or capital accounts.
• Disputes over basis can affect:
  • Deductibility of losses.
  • Gain or loss on sale/redemption.
  • Ability to receive tax-free distributions.
  • Should you go see an accountant if you believe you are not getting your proportionate share of income or distributions before filing a lawsuit?
• War stories - Paula McNulty and Tien case:
• Issues that came up relating to taxes in these cases
  

Scott Ahroni is one of the most knowledgeable tax lecturers in the nation. He has the ability to simplify the most complex tax rules. Bring in all your tax questions and get a CORRECT answer.