Overview
In terms of selecting an entity to do business in, the universe shifted with the Tax Cuts and Jobs Act enacted at the end of 2017. The tax rate for C corporations was lowered to 21% and the §199A deduction offered pass-through entities the chance to significantly lower the rate at which they are taxed. But how do all these options work and what option is best for what business?
Those questions are at the heart of this Surgent webinar, where tax practitioner presenters discuss, explain, and debate the tax entity choices new and existing businesses have under the Tax Cuts and Jobs Act. We all know that re-examining choice of entity determination is at the top of the agenda for client meetings during and after the 2020 tax season. This program will equip you with the knowledge and insights you need to lead those discussions.
Major Topics:
- Businesses operating as a C corporation
- Businesses operating as a pass-through entity
- Converting to a C corporation in 2020
- Adopting S corporation status
- The impact of the §199A deduction on choice-of-entity determinations
- Loss limitation provisions under the Tax Cuts and Jobs Act and how they impact entity selection
Learning Objectives
- Help clients choose the tax entity that is most advantageous to them in 2020 in light of prior tax legislation impacting choice-of-entity determinations
Designed for:
Tax practitioners seeking to understand the issues that impact choice-of-entity determinations for 2020
Prerequisite:
A basic course in partnerships/LLCs, S corps, and C corps
Advanced Preparation:
None