This course provides students with a framework for thinking about tax planning. This framework has two principal advantages. First, it is designed to have value long after the recent and next tax act. Second, the framework is portable, in that it can be applied to any set of tax laws - those of the United States or any other country. Although the course generally focuses on U.S. based transactions and planning examples, the underlying ideas are applicable in other jurisdictions. Once developed, the framework is applied to a variety of business settings. The applications integrate concepts from finance, economics, and accounting to achieve a more complete understanding of the role of taxes in business strategy. The course also includes periodic focus on the financial accounting ramifications of tax planning. Moreover, the course content has valuation related implications.
The following groups will profit from this course: investment bankers, financial executives (e.g. CFOs), consultants, entrepreneurs and private equity professionals who want to have a competitive advantage by understanding how taxes impact the structure and value of various types of transactions; and managers and analysts who need to understand how firms strategically respond to tax incentives.
Topics include the following: tax planning for mergers, acquisitions, and divestitures; tax arbitrage strategies; taxation of structures for new businesses (e.g., C Corps, S Corps, and LLCs); tax planning for financing transactions, including cross-border financing, executive compensation (e.g., incentive stock options); and others.