Gain the tools needed to avoid costly mistakes and potential legal issues during dissolution.
This presentation provides key insights into the legal and tax aspects of dissolving a corporation or partnership. It covers everything from filing dissolution papers to asset distribution. By attending, you’ll acquire the necessary tools to avoid costly mistakes and potential legal issues during dissolution.
Learning Objectives
- You will be able to describe the steps necessary when filing a certificate of dissolution and the role it plays in the dissolution process.
- You will be able to discuss the importance of filing final tax forms and how these should be properly handled.
- You will be able to explain how to effectively notify creditors and settle claims to avoid potential legal liabilities.
- You will be able to identify the correct and legal procedures for distributing assets among partners or share-holders.
Agenda
Introduction
- Overview
- Brief Introduction to Business Dissolution
Filing the Certificate of Dissolution
- Definition and Purpose of the Certificate of Dissolution
- Steps Involved in Filing the Certificate of Dissolution
- State-Specific Requirements for Dissolution
Filing of Tax Forms
- Understanding the Final Tax Return
- Other Relevant Tax Forms and Their Handling
- Handling of State Taxes During Dissolution
Notifying Creditors and Settling Claims
- Procedures for Notifying Creditors
- Evaluation of Claims and Resolving Disputes
- Legal Requirements and Potential Liabilities in Settling Claims
Distributing Assets
- Proper Procedures for Asset Distribution
- Tax Considerations During Asset Distribution
- Legal Implications and Potential Pitfalls During Asset Distribution
Other Considerations
- Legal Obligations and Liabilities Post-Dissolution
- Potential Tax Implications After Dissolution
- The Impact of Dissolution on Employees, Stakeholders, and the Community
Questions and Answers Session
Speakers
Alex Oware, CPA,
O & G Tax and Accounting Services, LLC- Founder of O&G Tax and Accounting, providing superior financial counsel to individuals and businesses across the globe
- His specialization encompasses diverse areas such as sales/use tax audits, income tax audits, franchise and income tax nexus reviews, and cross-border taxation
- Certified Acceptance Agent working with U.S. resident and non-resident aliens, other foreign taxpayers, and diverse and global clientele
- Extends his expertise to a wide online audience through online consulting at Justanswer.com, where he has answered nearly 12,000 tax-related queries, cementing his role as a trusted and accessible tax advisor
- As an industry thought leader, his insightful perspectives have found their way to the pages of esteemed publications like The Denver Post, WTOP (Washington’s Top News), U.S News & World Report, Yahoo News, Real Simple Online Magazine, The Wall Street Journal, Bloomberg Businessweek, and Ladders News
- Author of several popular articles on complex tax and accounting subjects such as USA – INDIA F-1 & J-1 Tax Treaty, Foreign-Owned U.S. LLCs, and Amazon Foreign Sellers, US Taxation, and 1099-K Reporting
- Studying for a Juris Doctorate from Concord Law School at Purdue University Global
- M.B.A degree in accounting and finance, Colorado Heights University; B.S. degree in accounting and finance, Presbyterian University College of Ghana
Who Should Attend
This live webinar is designed for accountants, CPAs, CEOs, presidents, vice presidents, CFOs, controllers, business owners and managers, and tax preparers.
