Tax Planning for Small Businesses - Tax Staff Essentials

Course Details

Date

Friday, October 25, 2024

7:00am – 11:00am (Registration: 4:02pm)

Location

Online

Field of Study

Taxation

CPE Credit

4 hours CPE credit

Level of Knowledge

Advanced

Vendor

AICPA

Prerequisites

Basic knowledge of business taxation

Description

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.

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

    Objectives

    • 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.

    Designed For

  • Tax professionals with small-business clients

  • Course Pricing

    WYOCPA Member Fee
    $213.00

    Non-Member Fee
    $261.00

    Your Price
    $261.00

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