Tax Considerations When Buying or Selling a Business

Barry M. Weins, CPA, JD

Cherry Bekaert

• Tax director with Cherry Bekaert, in the Tax Professional Practices Group with more than 32 years of tax experience
• As a member of the Professional Practices Group his primary role is to act as a technical resource to the tax practice and assist clients throughout out the firm
• His main area of responsibility is for corporate tax and mergers and acquisitions; this includes work in areas such as consolidated tax returns, corporate restructuring, stock basis, earning and profits, Section 382 analysis, as well as tax planning around acquisitions issues associated with S Corporations and partnerships
• Also has responsibilities associated with internal quality control and training related to the above areas
• Prior to becoming part of the Professional Practices Group, he provided clients with income tax planning and compliance strategies
• His extensive experience includes providing income tax planning and compliance services for S corporations, partnerships, individuals and corporations; additionally, he has worked with individuals on trust and estate planning and income taxation issues
• Has significant experience in state tax matters, stock basis, earnings and profits, and mergers and acquisitions
• Has represented clients before the Internal Revenue Service at both the examination level and in the appeals office
• Prior to joining Cherry Bekaert, he was a principal in the tax department at Aidman, Piser, serving midmarket businesses, entrepreneurs and publicly traded corporations, and served as a senior tax manager in the Fort Lauderdale office of a Big Four accounting firm

David Siegel, CPA

• Director in Cherry Bekaert’s Transaction Tax practice
• Since 1986, he has assisted taxpayers with all aspects of transaction tax matters including optimizing tax attributes, structuring transactions, due diligence, and post-merger integration involving both acquisitions and divestitures
• Has participated in both domestic and cross-border transactions, and possesses extensive experience with manufacturing and capital intensive businesses, as well as significant tax controversy knowledge involving federal, state income and indirect tax, and foreign local jurisdiction taxes
• Seven years of Big Four accounting firm experience, and over 20 years of experience directing corporate tax departments of large, acquisitive multinational companies
• Before joining Cherry Bekaert, he was vice president of tax at WestRock Company for nearly six years
• In his corporate roles, he served as corporate officer and a member of the management team responsible for tax planning, accounting, compliance, and controversy matters