Comments on: Getting to Know You Tuesday: Monica A. Lawver http://www.taxgirl.com/getting-to-know-you-tuesday-monica-a-lawver/ Paying taxes is painful... but reading about them shouldn't be. Sun, 12 Feb 2012 17:55:29 +0000 hourly 1 http://wordpress.org/?v=3.1.3 By: Donna CPA http://www.taxgirl.com/getting-to-know-you-tuesday-monica-a-lawver/comment-page-1/#comment-13713 Donna CPA Mon, 25 Jan 2010 16:13:19 +0000 http://www.taxgirl.com/?p=3323#comment-13713 Can you give some guidance on where to start researching this so I don't look completely stupid? PA "S" corporation 50% shareholder dies. He has tremendous debt to IRS and his estate will probably end up in bankruptcy. Buyout agreement was never signed. Fear is that Trustee will not accept FMV buyout of stock interest right away but hold on to stock and get 50% of earnings for 2 years before then accepting a FMV offer from other 50% stockholder (his brother). Absent a buy-sell or buyout agreement is there any law that will prevent the shares from entering into the estate (which is a qualified S corp shareholder)? When does ownership change? Upon offer of purchase or payment by other shareholder? Valuation is being performed now. I have feeling Bankruptcy Trustee can do what he wants since there is no agreement to purchase. If there was an agreement with mandatory purchase, would ownership switch immediately? Or upon payment? I cannot find much on this. Where do I start? Can you give some guidance on where to start researching this so I don’t look completely stupid? PA “S” corporation 50% shareholder dies. He has tremendous debt to IRS and his estate will probably end up in bankruptcy. Buyout agreement was never signed. Fear is that Trustee will not accept FMV buyout of stock interest right away but hold on to stock and get 50% of earnings for 2 years before then accepting a FMV offer from other 50% stockholder (his brother). Absent a buy-sell or buyout agreement is there any law that will prevent the shares from entering into the estate (which is a qualified S corp shareholder)? When does ownership change? Upon offer of purchase or payment by other shareholder? Valuation is being performed now. I have feeling Bankruptcy Trustee can do what he wants since there is no agreement to purchase. If there was an agreement with mandatory purchase, would ownership switch immediately? Or upon payment? I cannot find much on this. Where do I start?

]]> By: Brittney http://www.taxgirl.com/getting-to-know-you-tuesday-monica-a-lawver/comment-page-1/#comment-10367 Brittney Fri, 08 May 2009 18:49:31 +0000 http://www.taxgirl.com/?p=3323#comment-10367 Haha... I read the no caffeine thing and thought - hmm is she LDS? Not that LDS members are prohibited from drinking caffeine, but it's common to avoid it. Then I saw she went to BYU - yep most likely she's LDS! Sorry, I can't imagine ever paying to see a CPA broadway show. :) Haha… I read the no caffeine thing and thought – hmm is she LDS? Not that LDS members are prohibited from drinking caffeine, but it’s common to avoid it. Then I saw she went to BYU – yep most likely she’s LDS!

Sorry, I can’t imagine ever paying to see a CPA broadway show. :)

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