This Dentistry & the Law column advises a dentist on the importance of carefully considering the purchase price allocation when selling a dental practice. While the initial letter of intent may contain such terms, the author emphasizes that they are not binding, and negotiations on the purchase agreement will determine the final allocation. The article highlights the significance of tax implications for both the seller and the buyer, urging involvement of an attorney and accountant in the process. The Internal Revenue Code's requirements for purchase price allocation and potential tension in negotiations are discussed, emphasizing the need for informed decision-making.
Schulte, Daniel JD
"Dentistry and the Law: Purchase Price Allocation When Selling Your Practice,"
The Journal of the Michigan Dental Association: Vol. 104:
6, Article 5.
Available at: https://commons.ada.org/journalmichigandentalassociation/vol104/iss6/5
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