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Tax Planning for Small Businesses

Description

This course identifies tax planning strategies for small business clients throughout
the different life cycles of the business. We will 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 and IRS guidance.

Learning Objectives

• 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.
• Recognize how depreciation may be used in business tax planning.
• Calculate basis for partnerships and S corporations.
• Choose the correct tax treatment for fringe benefits granted to partners
and S corporation shareholders.
• Compare IRS concerns regarding reasonable compensation for an S
corporation owner versus a C corporation owner.
• Recall the tax treatment of contributions to a business entity by new
investors.
• Recognize the tax treatment of distributions to small business owners.
• Analyze a client’s need for a buy-sell agreement.
• 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

Major Topics

• Starting a business — choice of entity and the tax life of a business
• Selecting a business entity type
• Section 199A and the Qualified Business Income deduction
• Accounting Methods
• Self-employment taxes and entity type
• 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

Provider
AICPA
Course Level
Intermediate
Professional Area of Focus
Tax
CPE Field of Study
Taxes
4
Who Should Attend

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

Instructor(s)
David Peters
Prerequisites

Basic knowledge of business
taxation

Advanced Preparation

None

Location
LIVE-ONLINE Webcast
Event Information
When
Jan 5, 2023
12:00 pm - 3:30 pm EST
Location
LIVE-ONLINE Webcast
Total CPE Credits
4
Format
Live Webcast

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$160.00

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$ (% off)
$210.00
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Tax Planning for Small Businesses


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