Tax Planning for Small Businesses

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4.0 Credits

Solid tax planning strategies are essential for your corporate and small business clients. Join us as we explore state-of-the-art planning ideas and tax-saving strategies to keep more of your client's money in their pockets. We'll answer the tough questions and show you what strategies are best for your clients as a result of the most recent tax reform. Webcast materials include the impact of the Tax Cuts and Jobs Act of 2017 (TCJA) tax reform law.


- Identify important tax considerations for the small business at each stage of its life.

- Differentiate entity type options available for small businesses.

- Calculate the Qualified Business Income deduction under Section 199A.

- Identify the pros and cons choosing an entity type after passage of the Tax Cuts and Jobs Act.

- Choose the correct tax treatment for fringe benefits granted to partners and S corporation shareholders.

- Choose the most effective strategy for depreciation of business tangible property.

- Compare IRS concerns regarding reasonable compensation for an S corporation owner versus a C corporation owner.

- Apply tax knowledge to help create an efficient and effective estate plan for a client.

- Analyze a client's need for a buy-sell agreement.

- Select a tax accounting method that is appropriate for a business.

- Recognize tax issues involved in the exit of a shareholder from a corporation.

- Select among ways to dispose of or liquidate a business in a tax-efficient manner.

Major Topics

Key Topics

- Starting a business-the tax life of a business

- Selecting a business entity type

- The Tax Cuts and Jobs Act - 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

Designed For

Tax professionals


Basic knowledge of business taxation