Course ID: CL4CHTX

Practical Tax Tips and Techniques for Closely- Held Businesses

Provide insightful recommendations for the challenges faced by your closely held business clients. Employ smart business decisions that will minimize the tax burden, not only on the business, but also on the owners. The concepts are uniquely laid out in the course to allow you to easily and quickly identify those tax-saving strategies that fit your client’s situation.


LEARNING OBJECTIVES
  • Recall the pros and cons, for federal tax purposes, of choosing a business entity type.
  • Recognize how profits, losses, and the contribution of assets affect capital accounts, “inside” basis, and “outside” basis.
  • Recall significant considerations concerning strategies relating to benefits, choice of entity, basis considerations, financing alternatives, passive activity, cancellation of debt, bankruptcy, and compensation.
  • Recognize payments that are classified as guaranteed payments under Subchapter K.
  • Identify the tax attributes that must be reduced when there is an exclusion of income from the cancellation of debt.

MAJOR TOPICS
  • Entity options
  • Retirement plans and deferred compensation
  • Passive activities and at-risk issues for closely held buisnesses
  • Maintaining Shareholder and Partner Capital Accounts and Basis
  • Compensation and employee benefits for business owners
  • Cancellation of debt, bankruptcy, and their effect on tax attributes

DESIGNED FOR
Managers and partners in public accounting who assist clients with tax planning and transactions, and owners and CFOs of closely held businesses

FIELD OF STUDY
Taxes

PREREQUISITES
Experience in business taxation

COURSE PRODUCER
AICPA

CPE CREDITS
4.0

LEVEL
Intermediate

This course is available for your group as:

Group Live
 

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