Sacramento Chapter Meeting - October 9, 2024

Advising on Sales – Stock vs. Asset Sale:  What You Should Know.

Cameron L. Hess, Director of Fennemore WKBKY will present on what business brokers should know on a stock verses an asset sale, including Section 338(h)(10).   This program will include discussion of business and tax concerns in connection with the choice of how the sale should be undertaken between these two options- stock verses asset sale and the Section 338 elections.  Mr. Hess will cover issues in advising clients on after-tax sales proceeds maximization planning, built-in gains issues, recapture rules, and hot asset rules on LLC/partnership sales.   Time allowing, Mr. Hess will cover various structures involving “mixed” acquisitions  involving Section 721 roll-ups, cash/stock mergers, holdbacks, reserve baskets, and other areas. 

Cameron L. Hess, CPA, Esq. has practiced for 40-years, and was previously a tax manager with KPMG Peat Marwick.  His practice includes tax and business representation for closely held companies in Northern California, including advising on business transactions and succession planning.  Cameron Hess’s background includes additional special practice areas, including state and local business taxes (sales, employment, property, unitary taxation).  Mr. Hess co-founded KPMG’s Los Angeles Office State and Local Tax Practice in the late 1980s.  Mr. Hess is past chair of the California Lawyers Association Tax Section Corporate and Pass-through Entities Committee and previously served on the Business Section counterpart committee for pass-through committees.  A frequent speaker before CPA and legal professional programs involving tax and business, Mr. Hess also has been Chair since 1992, the RED Group, a committee of CPAs that focus on real estate tax issues. 

Mr. Hess has served as a Director on a  number of nonprofits and trade associations, including Easter Seals Superior California, The California Manufacturing and Technology Association, and the Rental Housing Association of Sacramento Valley, now part of the California Apartment Association.  Mr. Hess is a past instructor including at UC Davis CFP program and McGeorge Law School  (Partnership/S Corporation Taxation). 

Speaker: Cameron L. Hess
 

Pete's Restaurant and Brewhouse, Roseville - 11:30am, October 9, 2024
Attendees pay for their lunch.