Tax Planning for Small Businesses

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  • Date/Time
    • Dec 12, 2024
    • Sign In: 7:30am (MT)
    • Program: 8:00am - 11:30am (MT)
    • Add to Calendar
  • Location
    • ISCPA Enrichment Center
      1649 W Shoreline Drive #202
      Boise, ID 83702
    • Map
  • Credits
    • 4.00
  • Credit Type(s)
    • Taxation (4.00)
  • Prerequisites
    • Basic knowledge of business taxation

  • Vendor
    • AICPA
  • Level
    • Intermediate
  • Fields of Study
    • Taxes
  • Message
    • ATTENDING In Person

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.

  • Qualifies for IRS CE

Designed For

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

    When you complete this course you will be able to:
    • 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 - 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
    • 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

    Advanced Prep

    • Manual
      • If you did not purchase a printed manual, download it from your upcoming events in "My CPE" on website, and bring it with you
      • If you did purchase a printed manual and would also like an electronic copy be sure to download it
    • Review ISCPA Parking Map - found in your email confirmation
    • Lunch provided if you are also attending Taxation of Property Transactions on December 12 starting at noon.
    • IRS CE Approved

    If you need this reported to the IRS for CE credit, email CPE@idcpa.org

    Register Now

    Online registration is closed. Please contact ISCPA at 208-344-6261 or email cpe@idcpa.org if you would like to register.

    Leaders

    William Taylor

    William (Bill) F. Taylor, CPA is a professional speaker and a CPA with a small tax and consulting practice. Bill is also an Adjunct Assistant Professor in the Masters of Business Administration program at the University of Mississippi. He recently retired as President of Renasant Bank in Water Valley, MS.

    Bill has worked in the Accounting, employee benefit and investment fields for over 25 years, beginning his career as the Employee Benefits Coordinator in the Jackson, MS office of KPMG Peat Marwick and managing his own firm since 1999. A nationally known consultant and speaker, Bill has conducted seminars for the American Institute of Certified Public Accountants, the American Society of Pension Professionals and Actuaries, more than 40 state CPA and Bar associations and other organizations. He was awarded the AICPA Outstanding Discussion Leader award multiple times and the James L. McCoy Discussion Leader of the Year Award from Surgent CPE . Bill is the author of Taxation of Employee Benefits Volume I and Volume II, and his articles have appeared in numerous publications.

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