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Friday, November 15, 2024 Live Webcast

Tax Planning for Small Businesses - Tax Staff Essentials (X3-4514481)

12:00 PM - 4:00 PM EST
webcast

Vendor Platform

4 CPE Credits in TX

OVERVIEW

Clients want help with present and future business services. Which tax planning strategies will you provide for your corporate and small business clients? 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 We use a case-study approach to explore opportunities for businesses and how the tax practitioner can continue to add value for their clients. Discussions will include traditional and new planning opportunities as a result of the latest tax legislation, including the SECURE 2.0 Act, and IRS guidance.

DESIGNED FOR

Tax professionals with smallbusiness clients

BENEFITS

  • Identify important tax considerations for the small business at each stage of its life.
  • Calculate the qualified business income (QBI) deduction, built-in gains (BIG) tax, and the deduction for organizational costs and start-up costs.
  • Recall the tax treatment of fringe benefits granted to partners and S corporation shareholders.
  • Recall the tax implications of contributions by new investors to a corporation and partnership.
  • Identify the benefits and structures of buy-sell agreements for small business owners.

HIGHLIGHTS

  • Starting a business — the tax life of a business
  • Selecting a business entity type - Section 199A and the Qualified Business Income deduction
  • Accounting methods
  • Reasonable compensation issues
  • Depreciation, Section 179, and bonus depreciation planning considerations
  • Retirement planning
  • Buy-sell and noncompete agreements
  • Tax considerations when selling a business
  • Partnership hot assets and other look-through provisions
  • COURSE LEVEL

    Advanced

    PREREQUISITES

    Basic knowledge of business taxation

    ADVANCE PREPARATION

    None

    INSTRUCTOR

    William Murphy

    William F. Murphy, CPA/PFS, ABV, CFF, CGMA, CVA

    AICPA

    William F. Murphy is the owner of Murphy Financial Group, P.C. The firm emphasizes in providing tax consulting and financial planning services to corporations, professional practices and individuals. He also provides consultation services on tax and financial planning issues to various news and publishing organizations on current tax law changes occurring within federal and state government. He is also the author of the “Murphy Minute” that is syndicated through various news organizations. Mr. Murphy is also associated with the law firm of Mallor Grodner LLP. The firm has offices in both Indianapolis and Bloomington Indiana. He assists in providing tax, valuation and financial analysis services focusing in the areas of Family law, Business transactions and Estate tax planning. In addition to being a Certified Public Accountant (CPA), Mr. Murphy holds the accreditation in business valuations as an Accredited in Business Valuation (ABV) awarded by the American Institute of Certified Public Accountants. Mr. Murphy also holds the designation of a Personal Financial Specialist (PFS) and Certified in Financial Forensics (CFF) also awarded by the American Institute of Certified Public Accountants. Mr. Murphy also holds the designation of Chartered Global Management Accountant (CGMA) awarded by the American Institute of Public Accountants. Mr. Murphy also holds the designation of Certified Valuation Analyst (CVA) awarded by the National Association of Certified Valuation Analysis. Mr. Murphy has also worked with the local NBC affiliate (WTHR) for business segments with Mr. Lester Holt and radio station WIBC. In addition to these organizations, Bill has appeared as an expert witness in numerous state and federal court cases involving marital and business disputes and has lectured extensively on valuation and tax issues throughout the United States. Mr. Murphy is also an instructor at the Kelley School of Business in Indianapolis, Indiana and contributes to the Indiana Business Journal on articles involving business taxation and valuation. Mr. Murphy has presented numerous programs at the state and national level for American Institute of Certified Public Accountants, National Business Institute, Western CPE, Indiana Continuing Legal Education Forum, Indiana CPA Society, National Association of Certified Valuation Analysts and The Exit Planning Institute as well as for other local continuing educational programs. He is a former chairman of the Ethics Committee for the Indiana CPA Society and the chairman of AICPA 2013 Small Business Practitioners Tax and Tax Controversy Conference. Bill also has held an Indiana Insurance License and is involved with several financial planning organizations in the Indianapolis area. Prior to Bill’s association with the law firm of Mallor Grodner LLP he was associated with Murphy & Company, P.C. for over twenty five years (the predecessor of Murphy Financial Group P.C.). While at Murphy & Company, P.C. he was Director of Entrepreneurial and Tax Services and was the firm’s majority shareholder. The firm specialized in taxation, business valuations and small business formation. Prior to establishing his own firm in 1982 Mr. Murphy worked as a Director for the Indiana Attorney General's Office while attending Indiana University law school. Mr. Murphy graduated from Butler University with honors in 1973 and was admitted to practice as a Certified Public Accountant in the State of Indiana on December 7, 1977. He now serves on the Board of Visitors for the Butler University School of Business.

    PRICING

    $213.00 - Member

    $261.00 - Nonmember

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    Note: Online pre-registration will close on November 15 at 11:30 AM.

    ADDITIONAL OPTIONS

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    COURSE DEVELOPER

    AICPA/NJCPA

    AREAS OF INTEREST