Choice of Entity & Section 199A

Featuring Section 199A & TCJA Update

CREDITS: 8

CATEGORY: Taxation

SPEAKER: Prof. John Connors, CPA, JD, LLM

DATE: Full Day Option: Dec. 15, Jan 11,
or
Half Day Option For Jan. Only: View 4 Credits on Day 1 and 4 Credits on Day 2 - 12:00-3:40PM Eastern on each day.

TIME: Full Day Option: 8:50 A.M. - 5:10 P.M. Eastern 8:50 - 10:45 Welcome & Lecture
10:45 - 11:00 Coffee Break
11:00 - 12:30 Lecture
12:30 - 1:30 Lunch (on your own)
1:30 - 3:15 Lecture
3:15 - 3:30 Coffee Break
3:30 - 5:00 Lecture
5:00 - 5:10 Wrap-up

Half Day Option: 12:00 - 3:40 P.M. Eastern on each day.

LOCATION: Webinar Rebroadcast

This unique seminar will aid you in choosing the best type of entity for your clients based on the most recent tax legislation of TCJA as well as the new COVID-19 laws and related IRS regulations. New tax strategies and planning techniques will be highlighted for Partnerships (LLC's, S-Corps & C-Corps). This is a must attend seminar!

This course covers all the bases: recent TCJA changes, impact of Sec. 199A deduction on best entity to use for a particular client, maximizing availability of fringe benefits, minimizing exposure to self employment tax, as well as a myriad of common consulting issues taxpayers encounter with regard to choosing the best type of tax entity for their trade or business, or holding real estate.

Overview: So, this is an easy question? LLC for holding rental real estate, S corp to save employment taxes and using a C corp for fringe benefits, or if your client is contemplating going public and wants to take advantage of Code Sec. 1202(b) 100% exclusion on gain? After the TCJA and even the CARES Act, the type of entity our clients select can have a huge impact on possible tax consequences. If you are an experienced practitioner mentoring newer tax staff, this is one of the most comprehensive courses that will deal with the “life cycle” of a business or rental activity. It will delve heavily into the Code and examine the applicable provisions impacting formation of the specific entity, as well as the key issues faced during its existence. Then, it will cover those tax implications when considering the termination, sale or exchange of the entity. Newer tax staff will be exposed to the IRC and the underlying language behind all of the key provisions that they should have a handle on as their careers progress.

Click here to view a detailed course description.

Topics & Learning Objectives Include:

  • Under the “applicable Sec. 199A threshold?” - Then, LLC/Schedule C/F v. S corp might be best choice
  • S corp wages v. guaranteed payments for Sec. 199A purposes
  • Can Sec. 199A “aggregation elections” be made at the entity level?
  • What type of entity should be used to hold real estate?
  • S Corps and “reasonable comp” for saving employment taxes?
  • Best type of entity when encumbered property contributed? LLC v. S Corp?
  • Need for control of entity upon formation? LLC v. S Corp?
  • Pitfall for new owners joining established entities?
  • Getting appreciated assets, especially real estate, out of an entity without current taxation
  • “Drop and swap” flexibility for LLCs v. S corps holding real estate
  • Sec. 338(h)(10) elections - Are they equivalent to Sec. 754 “step-up elections” for LLCs?
  • Avoiding taxation on dissolutions of the entity - which entity is best?
  • All of these issues involving formation, operations and terminations of various types of entities will be examined, along with numerous client examples and planning tips.

Prof. John Connors is one of the most knowledgeable tax lecturers in the nation. He has the ability to simplify the most complex tax rules. Bring in all your tax questions and get a CORRECT answer.

  • Program Level: Overview
  • Prerequisites: Basic Knowledge of Federal Taxation
  • Advance Preparation: None Required
  • $295.00 $255.00
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