Surgent's Annual Tax-Planning Guide for S Corporations, Partnerships, and LLCs

Overview

You could pay $0 for this course!

This course qualifies for EA/IRS and CFP credit. If you need EA/IRS credit, please contact Tyler Dion (tdion@masscpas.org) after you have registered and provide him your PTIN number.

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.

This course qualifies for reimbursement through the state’s Workforce Training Express Fund. Firms/companies with fewer than 50 staff can be reimbursed up to 100% of the cost of training and firms/companies with 50-100 employees can be reimbursed up to 50% of the cost of training. You must register for the course and apply for reimbursement through the Workforce Training Express Fund website a minimum of three weeks prior to the start of the course. The course code for this program is C-12972. To learn more, click here or contact Julia Ekelund at jekelund@masscpas.org.

Highlights

Update on latest cases, rulings, and regulations including the final regs Provisions of Revenue Procedure 2022-19: Relief for S corporations Legislative update on retirement plan changes of the SECURE Act 2.0 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 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 The who, what, when, where, and how of the new FinCEN BOI reporting requirements

Prerequisites

A basic course in partnership theory and S corporation theory

Designed For

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

Objectives

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 Be familiar with retirement plan provisions of the SECURE Act 2.0

Preparation

None