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Business Closures

Due to COVID-19, several businesses have closed or are on the verge of closing. In this session, we will look at the tax ramifications of closing a business.

Objectives

Upon completion of the session, the learner will be able to:

• Show how to report the abandonment or sale of business assets
• Review the process of filing a final business tax return
• Analyze the filing requirements for filing Form 966
• Explain the consequences of cancellation of debt

Details

Genaro Cardaropoli, CPA, MPA & Laura Strombom, EA, MBA

Instructor:

Level:

Intermediate

Prerequisites:

Basic knowledge of business taxation

Advanced Preparation:

None

Delivery Method: 

Group Live

CPE credits     Designation     Field of study

IRS

2

AFSP

Federal Tax Law Topic

IRS

2

EA

Federal Tax Law Topic

NASBA

2

CPA

Taxes

CTEC

2

CRTP

Federal Tax Law Topic

CFP Board

0

CFP®

No

How to Earn CPE

Sessions are first come, first served. Registration is not required for individual sessions. To earn CPE, scan your badge on your way into each session. You do not need to scan on your way out. CPAs will receive an additional form at registration to self-report their time out. We strictly abide by the IRS’ CPE rules and turn badge scanners off ten minutes after each session begins. We cannot award CPE if your badge isn’t scanned.