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Tax Planning for Small Businesses - Tax Staff Essentials

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4.00 Credits

Member Price $225.00

Non-Member Price $269.00

Overview

Modern planning ideas and tax-saving strategies to help guide your small business clients.



Delivery Method: Individual webcast
CPE Credit: Taxes
Program Level: Intermediate

This course is being offered by a 3rd party vendor and will not be accessible on your My CPE page. Webinar access information will be emailed directly to you by AICPA.

Highlights

  • Starting a business - the tax life of a business
  • Selecting a business entity type
  • SECURE Act 1.0 and 2.0
  • Section 199A and the qualified business income deduction
  • Accounting methods
  • Compensation of owners - hiring family members
  • Reasonable compensation
  • Depreciation, Section 179 and bonus depreciation
  • Transactions with owners
  • Buy-sell and noncompete agreements
  • Exiting the business - special exit techniques

    Prerequisites

    Working knowledge of business taxation

    Designed For

  • Tax professionals with small-business clients

    Objectives

    • Identify important tax considerations for the small business at each stage of its life.
    • Calculate the qualified business income (QBI) deduction, built-in gains (BIG) tax, and the deduction for organizational costs and start-up costs.
    • Differentiate the advantages available for small businesses based on entity type.
    • Apply the four tiers of business losses for noncorporate taxpayers.
    • Analyze which activities of a taxpayer are subject to self-employment taxes.
  • Leader(s):

    Leader Bios

    William Murphy, AICPA

    William F. Murphy, CPA, PFS, ABV, CVA, is a consulting principal in Murphy, McClary, Stover & Burnett, LLC, a firm that provides tax and financial services to corporations and professional practices in the state of Indiana. He is a member of the Institute of Business Appraisers, Inc., and has appeared as an expert witness in numerous cases involving marital and business disputes. Murphy has lectured extensively on valuation and tax issues for the National Business Institute, Professional Education Systems, Inc., Indiana Continuing Legal Education Forum, Indiana CPA Society (INCPAS), American Institute of Certified Public Accountants, National Association of Certified Valuation Analysts, as well as for other local continuing educational programs. He serves as the chair of the Ethics Committee for the INCPAS. Formerly, Murphy was the owner, director of entrepreneurial and tax services and majority shareholder of the firm Murphy & Company, P.C. He was also a former director with the Indiana Attorney General’s Office. He was an accounting lecturer at the University of Indianapolis and Marion College and was also appointed to and currently serves on the Butler University Board of Visitors for the School of Business.

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    Non-Member Price $269.00

    Member Price $225.00