Description

This year practitioners need to keep abreast of tax changes affecting pass-through entities used by their business clients and employers, and this enlightening course delivers that information. You will learn invaluable strategies, techniques, innovative tax-planning concepts, income-generating ideas, and other planning opportunities available to S corporations, partnerships, LLCs, and LLPs. In addition, this course will discuss current trends and emerging issues, helping practitioners stay informed about relevant and significant topics that may impact their clients. Continually updated to reflect enacted legislation.

Instructor: Dave Peters, CPA, CFP, CLU, CPCU, MST, MBA

Target Audience

All tax practitioners, both those working in public accounting as well as those in private industry, who need the latest information on tax changes affecting their business clients or employers

Course Objectives

Understand the major issues on which taxpayers and the IRS are in conflict

Understand recent IRS guidance and legislation impacting pass-through entities

Subjects

Discussion of key individual provisions of the One Big Beautiful Bill Act, such as TCJA provisions made permanent, new tip income deduction, new overtime pay deduction, Trump accounts, and the expanded SALT cap

Comprehensive coverage of business provisions of the One Big Beautiful Bill Act, including but not limited to:

Bonus Depreciation made permanent

Increased §179 deduction

Changes to §174 R&E Expenditures

Changes to §163(j)

Form 1099/1099-K changes

Qualified Small Business Stock Exclusion

Excess Business Loss Limitation 

Section 1244 Small Business Stock and Section 1202 Qualified Small Business Stock treatment and applicability

Principles and considerations for nonresident withholding, composite payments, and passthrough entity taxes

Partnership Distributions, Form 7217, and S Corporation Redemptions

Thinking beyond §163(j) -- Interest Allocation Rules, Original Issue Discount, Applicable High Yield Discount Obligations, Convertible Corporate Debt Instruments, and Debt-Financed Distributions

Timely coverage of breaking tax legislation

Selected Practice and Reporting Issues: What’s new?

A review of recent cases and tax law changes and IRS guidance affecting S corporations, partnerships, limited liability companies, and limited liability partnerships

Decentralized Autonomous Organizations (DAOs)

Prerequisites

Experience with pass-through entity clients