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Saturday, October 15, 2022 Live Webcast

Annual Tax-Planning Guide for S Corporations, Partnerships, and LLCs Webinar (X1-TPGS-2022-01-WEBNR-288-01)

9:00 AM - 5:00 PM EDT
webcast

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8 CPE Credits in TX

OVERVIEW

As long as LLCs, partnerships, and S corporations form the backbone of many CPAs’ practices, in-depth knowledge of all tax aspects of these entities will be essential. The purpose of this practical course is to focus on planning issues in creating, operating, and liquidating S corporations, partnerships, and LLCs. This course is essential for CPAs in public accounting and industry who advise these entities or their investors.

DESIGNED FOR

CPAs in public accounting and industry who want to learn planning strategies relevant to S corporations, partnerships, and LLCs

BENEFITS

  • Identify current issues that practitioners are most often called on to address.
  • Be familiar with planning techniques employed in dealing with the life cycle of pass-through entities.
  • Distinguish the roles S corporations and partnerships/LLCs play in the changing tax environment.
  • Evaluate the impact of recent legislation, guidance, and judicial decisions.
  • Identify planning opportunities under current laws and regulations.
  • Be familiar with the results of the case studies that reinforce key learning points.

HIGHLIGHTS

  • Wrapping up issues related to COVID-19 legislation
  • Update on latest cases, rulings, and regulations including the final regs
  • How to handle liabilities of LLCs
  • Planning opportunities and pitfalls in determining basis and amounts at risk - recourse and nonrecourse debt issues for LLCs, and much more
  • Section 199A pass-through deduction planning
  • Partnership planning - Structuring partnership distributions and transfers of interests
  • Optional basis adjustments - §§754 and 732(d)
  • Planning for the utilization of §179 and for the scheduled phase out of bonus depreciation beginning in 2023
  • Basis, distribution, redemption, and liquidation issues of S corporations
  • Compensation in S corporations
  • Sale of a partnership - the best planning concepts
  • What you need to know about family pass-throughs - Estate planning, family income splitting, and compensation planning
  • Partnership and LLC allocations
  • A brief look at possible future changes to the taxation of pass-through entities

COURSE LEVEL

Intermediate

PREREQUISITES

A basic course in partnership theory and S corporation theory

ADVANCE PREPARATION

None

ADDITIONAL NOTES

  • Qualifies for IRS credit

INSTRUCTOR

Michael Frost

Michael A. Frost, CPA, EA

Michael A. Frost, CPA, EA Mike Frost, CPA, of Jacksonville, Alabama, provides tax consulting, continuing education, and motivational speaking services through his company, Mike Frost Enterprises. Mike is a former shareholder of MDA Professional Group, PC, where he managed the tax department of the Albertville office. Mike has 31 years of experience in public accounting, including but not limited to: Business and individual income tax preparation and planning; mergers and acquisitions; estate, gift, and trust tax preparation; small business consulting; Medicare planning and other elder care; audit representation; and religious groups and clergy. Mike has conducted CPE engagements and seminars throughout the United States and has served as technical advisor for tax articles in The Sand Mountain Reporter, a local newspaper. Mike has been a featured presenter at the Alabama Society of CPAs Annual Meeting and the Federal Tax Clinic held annually at the University of Alabama in Tuscaloosa. Mike graduated with "high honors and distinction" from Jacksonville State University with a major in accounting, a minor in finance, and a 4.0 GPA. He is a member of the American Institute of Certified Public Accountants and the Alabama Society of Certified Public Accountants. In addition, he is a graduate of the Tax Planning and Advising for Closely Held Businesses Certificate of Educational Achievement Program sponsored by the AICPA.