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Tuesday, November 24, 2020 Webcast

Tax Planning for Small Businesses (X3-2206971)

10:30 AM - 2:30 PM EST
webcast

Webcast

4.0 CPE Credits in TX

OVERVIEW

What tax planning strategies will you provide for your corporate and small business clients? This course explores state-of-the-art planning ideas and tax saving strategies to keep more of your clients’ money in their pockets. Updated for the latest legislation and IRS guidance on tax reform, this course answers the tough questions and shows you what strategies are best for your clients as a result of the most recent tax legislation.

DESIGNED FOR

CPAs looking for innovative tax planning and savings techniques to solve client problems

BENEFITS

  • Identify important tax considerations for the small business at each stage of its life
  • Differentiate entity type options available for small businesses
  • Calculate the Qualified Business Income deduction under Section 199A
  • Identify the pros and cons choosing an entity type after passage of the Tax Cuts and Jobs Act
  • Choose the correct tax treatment for fringe benefits granted to partners and S corporation shareholders
  • Choose the most effective strategy for depreciation of business tangible property
  • Compare IRS concerns regarding reasonable compensation for an S corporation owner versus a C corporation owner
  • Apply tax knowledge to help create an efficient and effective estate plan for a client
  • Analyze a client’s need for a buy-sell agreement.
  • Select a tax accounting method that is appropriate for a particular business.
  • Recognize tax issues involved in the exit of a shareholder from a corporation.
  • Select among ways to dispose of or liquidate a business in a tax-efficient manner

HIGHLIGHTS

  • Starting a business — the tax life of a business
  • Selecting a business entity type
  • The Tax Cuts and Jobs Act
  • Section 199A and the Qualified Business Income deduction
  • Accounting methods
  • Compensation of owners — hiring family members
  • Reasonable compensation
  • Depreciation, Section 179, and bonus depreciation
  • Transactions with owners
  • Buy-Sell and noncompete agreements
  • Exiting the business — special exit techniques

COURSE LEVEL

Intermediate

PREREQUISITES

Basic knowledge of business taxation.

ADVANCE PREPARATION

None

INSTRUCTOR

Deborah Phillips

Deborah A. Phillips, CPA, MST

Surgent Professional Education

Debbie operates her own tax controversy practice where she specializes in partnership and S corporation tax law as well as IRS audits and procedures. She has been very successful petitioning and resolving tax issues under the jurisdiction of the United States Tax Court. She is proficient in Section 199A provisions and computations as well as all aspects of the Tax Cuts and Jobs Act of 2017. Previously, Debbie worked for the Internal Revenue Service (IRS) for more than 32 years, with experience in its Large Business and International Division (LB&I) and its Flow Through Issue Practice Group (IPG), along with various retail and manufacturing industry groups. In addition, Debbie taught graduate and undergraduate courses in accounting and taxation as an adjunct faculty member at Delaware State University, Wilmington College, and Goldey-Beacom College. She has been a seminar presenter for approximately 20 years as well as a textbook author. In 2015 through 2017, she received the Surgent Outstanding Discussion Leader Award.

PRICING

$179.00 - Member

$219.00 - Non Member

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Note: Online pre-registration will close on November 24 at 10:00 AM.

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COURSE DEVELOPER

AICPA/NJCPA