In Larry E. Howard v. U.S., (CA 9 8/29/2011) 108 AFTR 2d ¶ 2011-5226, the Court of Appeals for the Ninth Circuit has affirmed a district court’s conclusion that the amount received by a dentist on the sale of his wholly owned dental-practice professional service corporation that was allocated to his personal goodwill was in fact a corporate asset. As a result, the amount was recharacterized as a dividend to him from his corporation.
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The tax attorneys at the Beliveau Law Group provide legal services for federal and state tax law, as well as with tax returns. Our tax attorneys are located in Naples, Florida; Boca Raton, Florida; Danvers, Massachusetts; Waltham, Massachusetts; Quincy, Massachusetts; Manchester, New Hampshire and Salem, New Hampshire.