When you are first getting started with a new business, the amount of compliance paperwork can be overwhelming! You want to do things right – but what does that mean? In this segment of the Exploring Client Advisory Services Series, we will talk about some basics for getting setup in a new state. We will talk about basic payroll reports to be filed, state registrations, and when we need to withhold for our employees. What about estimated taxes? We have you covered there too. We will talk about who needs to file estimated taxes and how to save a few bucks when working with your tax practitioner. This is a fantastic course if you are new business owner just trying to figure out where to begin!
Understanding Corporate Taxation: Tax Credits, Disposing of Shares & Corporate AMT (LITX18/27)
Corporate taxation can be complex—but understanding it is essential for practitioners who advise business clients. This course provides a focused, practical review of three key areas that frequently arise in corporate tax planning and compliance: corporate tax credits, stock redemptions and dispositions, and the Corporate Alternative Minimum Tax (CAMT). In this course, we will examine the major corporate tax credits available —including the general business credit and its components, as well as changes to tax credits due to recent tax legislation. We will also walk through the rules governing stock redemptions under IRC Section 302, including the requirements for substantially disproportionate redemptions, the treatment of redemptions as dividends versus capital transactions, and the federal excise tax on corporate stock buybacks under Section 4501. Finally, we will address the Corporate Alternative Minimum Tax, its applicability to corporations with adjusted financial statement income of $1 billion or more, and practical planning considerations. Through discussion and easy-to-follow examples, you will leave better equipped to advise corporate clients on these important and often-tested areas of the tax law.
*EA Approved Course
Qualified Small Business Stock Before and After the One Big Beautiful Bill Act (LITX64/27)
The OBBBA’s changes to Section 1202 are among the most significant updates to the QSBS framework since the exclusion was made permanent in 2015. The new tiered exclusion structure, enhanced dollar limitations, and inflation indexing create fresh planning opportunities—but also introduce new timing and structuring considerations that practitioners must account for.
This course provides actionable guidance on how to help clients qualify for, maximize, and preserve the QSBS exclusion under the current rules, with a focus on the sophisticated trust-based and entity-structuring strategies that can meaningfully expand the tax benefit.
*EA Approved Course
Tax Research: Secondary Sources, Tax Positions, & Conflicting Authority (LITX19/27)
Financial professionals are inundated with new information about the Internal Revenue Code on a daily basis. While it’s easy to dismiss unreliable social media posts or obscure websites, it becomes much more challenging when conflicting information comes from respected, authoritative sources. For example, is a court decision about a tax issue more important than information directly coming from the IRS? What happens if information from the IRS is inconsistent with the law? And is there ever a time when I can rely on information given by the IRS to another taxpayer? In this course, we will take a deep dive into secondary sources of tax authority. We will examine common conflicts, explore how to weigh different types of guidance, and discuss practical strategies for resolving uncertainty. Finally, we will clarify the distinctions between giving tax advice, preparing a tax return, and taking a position on a return to help you navigate these situations with confidence and precision.
Exploring Client Advisory Services – Engagement Letters & Preparer Liability (LITX17/27)
In more recent times, the tax profession has become more engagement letter driven. While engagement letters seem to get longer each tax season, it is sometimes difficult to know when they are required and when they are not. Can I answer a quick question from a client without an engagement letter? What happens if a client does not want to sign? Can a preparer ever be liable for penalties related to an engagement? In this course, we will examine these questions and many others related to engagement letters and preparer liability. We will talk about what is required of tax professionals and how an engagement letter protects us. Finally, we will look at some best practices related to client engagement letters.
Understanding Corporate Taxation: Formation & Shareholder Compensation (LITX16/27)
When a new business is formed, there are a lot of questions. What is the most tax-advantageous way to structure the entity? What issues do we need to be aware of? How should owners pay themselves? For corporations, these questions are even tougher since they are regulated so heavily. In this course, we will discuss how new shareholders can form a corporation tax-free. We will also discuss how basis is calculated for the shareholders, including what to do when debt is involved. Finally, we will discuss different ways that shareholders may be compensated and the pros and cons of each. If you want to confidently guide your corporate clients through entity formation, basis calculations, and compensation planning, our Understanding Corporate Taxation series is designed for you!
Federal Tax Update for Businesses – Summer 2026 (LITX25/27)
Being a tax practitioner over the last few years has been tough! The tax landscape is constantly changing, and this shows no signs of slowing down. With the passage of the One Big Beautiful Bill Act (OBBBA) and the more recent guidance about it, there’s even more for practitioners to keep up with. Now more than ever, you need more than just new code sections hurled your way—you need a reliable and practical way to stay on top of new legislation, IRS focus areas, and key developments affecting your clients. We’ll walk through recent updates for employers related to tip deduction and overtime deduction reporting. We will also talk about those tricky expiration dates related to green energy credits. Finally, we will discuss disproportionate distributions to partners. Through discussion and easy-to-follow examples, you’ll be better prepared to answer tough client questions and stay current year-round. Not just during tax season!
Trust Funding: A Practical Guide to Properly Funding and Titling Trust Assets (LITX63/27)
Creating a trust is only half the equation. Without proper funding, even the most carefully drafted trust document may fail to achieve its intended goals—leaving assets exposed to probate, creditors, family disputes or unintended disposition.
This course provides a practical guide to funding revocable and irrevocable trusts, covering the mechanics of retitling property, common pitfalls that derail estate plans, and best practices for ensuring that a trust actually functions as designed.
Practice & Regulatory Update for Financial Advisors – Summer 2026 (LITX15/27)
The regulatory world is complex for financial advisors. Not only are you subject to SEC and FINRA regulations, but also what the IRS does as well. Clients expect you to be on top of what is happening in the world of investing, insurance, and taxes. It is not enough to just know the code section or the final rule affecting them. Your clients want to know how changes and updates affect their financial well-being. And what if you are a Certified Financial Planner? Then we need to worry about CFP Board too! It is enough to make your head spin!
That’s where our quarterly practice and regulatory update can help. In this 4-hour update, we will review new SEC enforcement actions and FINRA rule changes affecting registered representatives and their clients, examine how OBBBA provisions create new financial planning opportunities, and discuss recent developments in CFP Board’s ethical standards. We’ll also address the latest status of FinCEN’s AML rule for investment advisors and changes to RMD planning guidance. Don’t worry. We won’t just hurl code sections at you. Using practical and easy to understand examples, we will illustrate the concepts that mean the most to you – so you will be well-prepared for the many things that a client throws your way!
SC Tax Clinic: Nexus & Apportionment Practical Issues (LITX11/27)
Build practical, hands-on insight into South Carolina nexus and apportionment challenges with real-world scenarios and common pitfalls. This tax clinic focuses on applying the rules correctly, addressing gray areas, and reducing risk for clients operating across jurisdictions.
