August 2018
Beginner
104 pages
2h 26m
English
book
The Tax Aspects of Acquiring a Business, Second Edition, 2nd Edition
by Professor W. Eugene Seago
Content preview from The Tax Aspects of Acquiring a Business, Second Edition, 2nd Edition
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The Purchase and Sale of an Unincorporated Business
The value of a business is the present value of the future net-of-taxes cash flows the business will produce. A tax adviser has little influence over the pattern of future revenues a corporation may earn, but the tax adviser may have some influence over the deductions allowed in calculating the taxable income. An important determinant of future tax deductions is how the purchase price is allocated among the assets.
Assets Valuations
The basic assets of an unincorporated business can be viewed as future tax deductions that will yield cash flow equal to the owner’s marginal tax rate in the year of the deduction multiplied by the amount of the deduction. The tax lives that are used to ...
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