VIRTUAL ONLY: Tax Planning for Small Businesses - Tax Staff Essentials

Description

What tax planning strategies will you provide for your corporate and small
business clients? This course explores state-of-the-art planning ideas and taxsaving
strategies to keep more of your clients’ money in their pockets. Updated for
the latest legislation and IRS guidance on tax reform, this course answers the
tough questions and show you what strategies are best for your clients as a result
of the most recent tax legislation.

Highlights

• 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

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.
• 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 particular
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.

Designed For

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



Leaders

Anthony Hilliard

Practice Areas: Taxation Law; Estate Planning Law; Probate Law; Banking Law; Employee Benefits Law; Business Law. Personal Information Born Rison, Arkansas, July 4, 1956. Education: Hendrix College (B.A. 1978). University of Little Rock School of Law (J.D. 1996). Southern Methodist University School of Law (LL.M. (Taxation), 1998). Bar Information: Admitted to bar 1996, Arkansas and U.S. District Courts, Eastern and Western Districts of Arkansas, 1996. Arkansas Bar Association Board of Governors. Tenured Delegate Arkansas Bar Association House of Delegates. Past President Arkansas Bar Association Tax Section. Secretary/Treasurer Arkansas Bar PAC. Honors: Associate Editor, UALR Law Journal, 1995. Arkansas Bar Association Lawyer Legacy Award, 2006. Arkansas Society of CPAs, Mac Angel Award, 2006. Best Lawyer’s in America, Tax Law, Trusts and Estates (2006-2009) Memberships: Jefferson County and American Bar Associations (Member of Taxation and Business Section). Arkansas Society of Certified Public Accountants (CPA 1982-Inactive)