This program is an in-depth analysis of the Section 754 election and the two adjustments associated with the election under Section 743(b) and Section 734(b). The 754 election is a highly technical provision that provides great tax benefits to the owners of the partnership, and particularly in the case of Section 743(b), a new partner. In this webinar, our expert panel will cover the most common questions encountered by practitioners in their daily practices. The program includes a number of examples that provide insights into the mechanics of the two adjustments that follow upon a Section 754 election.
DESIGNED FOR
Accounting and finance professionals and benefit consultants who need to better understand this new legislation
BENEFITS
- Be familiar with student loan repayment and forgiveness rules
- Understand the increased need for better tax advice in student loan repayment and college funding
- Be knowledgeable of student loan assistance benefits
HIGHLIGHTS
- The four parts of the Student Debt Relief Plan
- The importance of year-end tax advice, especially for 2022, due to the 1/1/2023 repayment restart and the income certification requirement
- Action plans for each student debt relief process
- Automation of IRS data into the various Department of Education systems
- Changes in student loan repayment trends directly related to personal tax planning and benefit decisions
- Increased opportunity for tax practitioners due to the limited advice from student loan servicers and college financial aid offices
- Implementation items for tax-free student loan reimbursement for employees and employers
- Loan forgiveness opportunities for employers that are 501(c)3 entities and government agencies
- Impact of student loan assistance benefits on company retention and recruitment
- Importance of the Public Service Loan Forgiveness (PSLF) limited waiver expiration
- FAFSA simplification impact and need for better tax planning in college funding
- Increased college cost due to FAFSA simplification calculation changes
- Increased use of IDR and the need for better tax planning and benefit selection
- Benefits of proper student debt structure for repayment, forgiveness, and parent liability
- Employer implementation planning for student loan assistance benefit
- Importance of plan data source for student loan assistance compliance
- Internal and external audit decisions for student loan assistance compliance
COURSE LEVEL
Basic
ADVANCE PREPARATION
None