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Shortcuts to Tax Cuts: Business Tax Planning Strategies for S Corporations and LLCs (TCBU)

  • Format Live Seminar
  • Credits 8
  • Level Intermediate
  • Field of Study Taxes (8)

To register for a live seminar, visit the sponsoring state society’s website.

See Locations for this Course

Overview

Business clients seek practical solutions to their tax issues, and this course provides advisors with a wide berth of tax planning strategies and ideas for the closely-held business. Providing sound advice will be a money maker both for clients and your firm.

Major Topics

  • Department of Labor overtime regulations, what has changed, what has NOT changed, tips for identifying employees who need reclassification
  • Five common misconceptions regarding overtime laws
  • The latest on depreciation and safe harbor expensing options, including the $2500 de minimis expense item
  • Taking full advantage of fringe benefits: what is available
  • Fringe benefit plans -- how they play a larger role in getting to a lower taxable income; what choices should you consider?
  • Medical benefits: long-term care, HSAs, cafeteria plans, COBRA compliance, disability
  • Health care reform: what it means to employers
  • Maximizing retirement benefits
  • Pension plans -- are they now more valuable, and what are the best options?
  • Qualified personal service corporations -- is the cash method of accounting in jeopardy?
  • Compensation planning -- with potential increases of our client’s Social Security taxes, what can we do to lessen the burden?
  • Basis planning: at-risk and passive considerations
  • Structuring the buy-sell agreement
  • Why businesses need life insurance
  • Related party transactions: making them work
  • Travel and entertainment
  • Methods of accounting: when do you use accrual instead of cash? When can you use cash?

Learning Objectives

  • Understand what strategies and techniques are most appropriate for businesses in dealing with employee-related issues, depreciation, related parties and more
  • Understand how to structure buy-sell agreements
  • Understand how to successfully transition new DOL regulations

Who should take this course:


All tax practitioners, both those working in public accounting as well as those in private industry, who are responsible for tax planning for their clients and/or companies

Experience with business clients

None

Yes

No

No

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