In this course participants use one continuous sample case to apply federal tax rules to their client's closely-held corporation and shareholder problems. The case starts with a sole proprietor and follows the family business owners through the incorporation decision, multiple corporation issues, fringe benefit planning, personal holding and accumulated earnings planning, and ends with transition-of-ownership issues including the complete liquidation of the closely-held corporation. Participants will be able to understand tax saving and planning opportunities during the entire life cycle of a typical small business.

• Complete coverage of The Small Business and Work Opportunity Tax Act of 2007
• Follow one case study from the incorporation decision, fringe benefit, compensation, and retirement planning to transition of ownership options and final liquidation
• Corporate taxation issues including AMT and small business relief
• Multiple corporation considerations
• Compensation problems and fringe benefit overview and update
• Penalty taxes - accumulated earnings and personal holding company problems
• Corporation distributions, buy-sell agreements, redemptions, and liquidation
• Any new legislation enacted prior to the presentation date

Field of study: Taxes