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I have a tax question, is there a tex lawyer present? We are…

I have a tax question...
I have a tax question, is there a tex lawyer present?
We are just about to sell our business (subchapter S) to a somewhat larger company which I imagine is just a corporation. the payout to us (two owners) is over three years hitting various landmarks which we are pretty confident of. My question is this: with the new Trump tax law doesn't very successful subchapter S cooperation increase in value as the taxes would b so much lower on it when they take over in 2918 that I feel the multiple the same was based on increased quite a bit. I am aware this will help us reach the goalposts in 2019 and 2029 but it seems there should be more paid for the entity we are selling now?
That's question 1) question two involves our CFO who we had a deal with to get as share go the profits which got very large and unbeknownst to the owners who were paying by bonus checks starting to take it from ADP, where only he had access. What forms of payment should I ask our CPA firm beyond W-2s that this CFO could have been drawing from ADP and I can also of course get these documents from our CPA firm. Thanks.
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Answered in 19 hours by:
12/23/2017
WiseOwl58
WiseOwl58, Attorney
Category: Business Law
Satisfied Customers: 4,595
Experience: Senior Associate at White & Case LLP
Verified

Yes, you should be paid a higher valuation for the company if the tax impact will be lower. You need to have the original business appraiser go back and revise it, or if you didn't have a business appraiser, get a CPA accountant to give you an estimate of the tax savings and then with that evidence you can demand a higher price from the buyer.

As to the CFO question, you should ask ADP for documentation of expense reimbursements that were added to the paycheck. Or the CFO might have had bogus invoices paid to a company that he owns or his relative owns or controls. In order to do that, you need to audit all of the payments that were made to vendors through the accounts payable department. That is probably where he hid the payments to himself.

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WiseOwl58
WiseOwl58, Attorney
Category: Business Law
Satisfied Customers: 4,595
Experience: Senior Associate at White & Case LLP
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