Practitioners need to keep abreast of all tax changes affecting pass-through entities used by their business clients and employers, and this enlightening course delivers that information. You will learn invaluable knowledge, strategies, techniques, innovative tax-planning concepts, income-generating ideas, and other planning opportunities available to S corporations, partnerships, LLCs, and LLPs. This course has been updated for impacts of the Protecting Americans Against Tax Hikes (PATH) Act of 2015.
- Selected Practice and Reporting Issues: What’s new?
- A review of the key cases, rulings, and tax law changes affecting S corporations, partnerships, limited liability companies, and limited liability partnerships
- Choice of entity issues: is the C corporation a viable choice?
- Basis issues: at-risk, passive activities for partnerships and LLCs
- Self-employment taxes: are there major changes affecting S corporation shareholders on the horizon?
- Debts between entity and the investors: open-account and written debt; defining bona fide debt for back-to-back loans
- Impact of the net investment income tax on the owners of pass-through entities
- Impact of health care changes on pass-through entities
- Any late-breaking tax legislation, including how the Affordable Care Act affects tax returns
- Review of the year’s most important business tax cases, revenue rulings, PLRs, etc.
- Understand the major issues on which taxpayers and the IRS are in conflict
- Understand how tax reform affects planning for pass-throughs
- Understand what pass-throughs can do in light of health care changes