Taxes

Presented by SnapBOI: An introduction and overview of the BOI reporting requirements of the Corporate Transparency Act, including which companies must report, deadlines and enforcement. Discussion Leader: Various

Obtain a better understanding of trust accounting principles; how to reflect them on a trust tax return, and properly compute distribution deductions. Discussion Leader: Bill Strickland

Reasonable compensation is one of the most misunderstood topics in the tax realm, and it can have very real and impactful implications on your clients and your firm. If you work with S Corps, you have a duty of care to ensure that your clients are taking appropriate reasonable compensation and have this figure documented using unbiased data every year. Failing to do so can potentially result in back taxes, penalties and interest for your clients, and preparer penalties for you.

Learn from the mistakes of past practitioners by attending this fast-paced session that will reveal the horrors that can occur when reasonable comp is butchered. Discussion Leader: Various

Business choice of entity for tax purposes can have a significant impact on business tax liability, and a reasonable compensation determination is essential for optimizing the entity choice tax outcomes.

This course will describe how reasonable compensation intersects with entity choice and tax planning with examples.  Discussion Leader: Tom Gorczynski

Join our essential tax course on Form 706 and learn how to navigate the upcoming changes from the Tax Cuts and Jobs Act, set to expire in 2026. With the lifetime exclusion poised to halve, understanding how to file for Portability of the Deceased Spouse Unused Exemption is crucial for safeguarding your clients’ estates. Don’t miss this opportunity to ensure you’re providing malpractice protection and optimal tax planning strategies! Discussion Leader: Larry Pon

Determining dependency is normally straight-forward in most situations. However, with the changing family dynamic in more current times, practitioners are more often facing unique living and social situations from their clients. In these unique circumstances, determining who is a dependent and who isn’t can be difficult. Through true to life discussion questions and plain English explanations of code sections, this course explores the modern idea of dependency after the Tax Cuts & Jobs Act (TCJA). Discussion Leader: David Peters

Financial planning for a small business is inherently tied with the owner. When you plan for the future of the company, you are planning for the individual as well. Trying to get the owner additional cash from his/her company is a common issue faced by many advisors.However, it is important to realize that the form of that cash movement may result in very different tax implications. Using easy to understand examples and cases, this course will explore the common methods used to transfer cash from a small business to the owner him/herself. We will look at how the tax implications differ depending on entity type and the form of payment. Discussion Leader: David Peters

S-Corporation taxation has lots of pieces. There are helpful elections you can make that can potentially save your client money. There are rigid rules to be adhered to. For example, if there is more than one class of stock, it can terminate the S-election. Learning how to successfully navigate these rules can make all thedifference. In this course, we will be discussing some of the more common specialty areas experienced by practitioners – late filing relief for S-elections, disproportionate distributions, and selling S-Corporation shares. While these items may not come up on every single Form 1120-S, you will be able to add more value to clients when they do! Discussion Leader: David Peters

Now that tax season is over, it’s time to transition all of your completed SMB (small-to-medium business) tax preparation engagements into new, higher revenue tax planning ones. Dawn Brolin, CPA, CFE, and The Designated Motivator for Accounting Professionals will show you how in six simple steps!

In this session, Dawn will walk you through the simplified tax planning process she uses for her Schedule-C and S-Corp clients including how she leverages entity planning as the natural starting point for every conversation and why reasonable compensation calculations are essential, and how they can be revenue-generators for your firm.

Attend this webinar to see first-hand from a fellow practitioner how to simplify the tax planning process for your SMB clients so you can help them reduce their tax obligations while providing more value and increasing your firm’s revenue potential. Discussion Leader: Dawn Brolin

S-Corporation taxation has lots of pieces. There are helpful elections you can make that can potentially save your client money. There are rigid rules to be adhered to. For example, if there is more than one class of stock, it can terminate the S-election. Learning how to successfully navigate these rules can make all the difference. In this course, we will be discussing some of the more common specialty areas experienced by practitioners – late filing relief for S-elections, disproportionate distributions, and selling S-Corporation shares. While these items may not come up on every single Form 1120-S, you will be able to add more value to clients when they do! Discussion Leader: David Peters