Solid tax planning strategies are essential for your corporate and small business clients. Join us as we explore state-of-the-art planning ideas and tax-saving strategies to keep more of your client’s money in their pockets. We’ll answer the tough questions and show you what strategies are best for your clients as a result of the most recent tax reform. Webcast materials include the impact of the Tax Cuts and Jobs Act of 2017 (TCJA) tax reform law.
– 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 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.
– 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
Basic knowledge of business taxation