Business Tax Planning Review and Update- A/V

CPE Credit: 4 hours

This course is designed to provide suggestions and tips for sharing with the tax practitioner and for use in assisting clients with their business tax planning practices. 

Learning Objectives:

Upon completion of this course, participants will be able to:

1. Evaluate business entity structures, including sole proprietorships, partnerships, LLCs, S corporations, and C corporations, to identify tax planning opportunities and potential limitations under current federal tax law.

2. Apply federal tax planning strategies involving accounting methods, qualified business income (QBI) deductions, entity elections, compensation planning, and timing of income and deductions to improve after-tax business results.

3. Analyze tax considerations affecting business formation, organizational expenditures, startup costs, shareholder loans, family employment arrangements, retirement planning, and fringe benefit programs to support informed business decisions.

4. Differentiate the tax consequences associated with business acquisitions, asset versus stock sales, built-in gains tax, partnership transactions, buy-sell agreements, and ownership transfers in closely held businesses.

5. Identify federal tax compliance issues, documentation requirements, and planning techniques related to accounting method changes, hobby loss rules, shareholder basis, medical reimbursement arrangements, home office rules, and other common business tax issues.

6. Recommend practical business tax planning strategies that integrate current federal tax rules, cash flow management, and long-term business planning considerations to minimize tax liability while maintaining compliance.