Overview
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. Continually updated for developments.
Major Topics:
- The CARES Act and FFCRA, including employer credits, SBA loans, and expanded leave programs
- New partnership tax basis capital account reporting requirements
- The SECURE Act, including IRA and RMD changes
- Impact of the Tax Cuts and Jobs Act on S corporations and partnership entities including coverage of Section 199A
- Partnership Audits
- Opportunity Zones
- Selected Practice and Reporting Issues: What’s new?
- A review of the key cases, rulings, and tax law changes affecting S corporations, partnerships, limited liability companies, and limited liability partnerships
- Choice of entity issues: Is the C corporation more of a viable choice after tax reform? Will it become preferred?
- Impact of the CARES Act on sections 163(j) and 461(l)
- Debts between entity and the investors
- Impact of the net investment income tax on the owners of pass-through entities
- Any late-breaking tax legislation
- Review of the most important business tax cases, revenue rulings, PLRs, etc.
Learning Objectives
- Understand the major issues on which taxpayers and the IRS are in conflict
- Understand how the CARES Act and tax reform affects planning for pass-throughs
- Understand what pass-throughs can do in light of the CARES Act and tax reform
Designed for:
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
Prerequisite:
Experience with pass-through entity clients
Advanced Preparation:
None