TaxSpeaker

Business Tax Update

Live Seminar

Credit Hours: 8

By: Bill Leonard, CPA, CFFA

Registration for state sponsored events such as this one are handled by the individual states and not through our site. Contact information for registration is:

Phone: (406)442-1700
Website: http://mspamt.org

Event Description:

"Business tax changes and problem coverage are the focus of this course. We cover the latest tax changes and add in our ""problem focus explanation"" where we hone in on the latest IRS attacks on small business issues. This class provides an in-depth look at the tax organization, filing and compliance issues for all 3 of the major forms of business entities.

The discussion of S corporations includes elections, late ā€œSā€ election, allowed shareholders, basis rules, distributions and accounting issues. We also provide the instructions and elections to make a deemed dividend election or to distribute E&P before AAA. We also discuss troublesome operating issues such as officer compensation, debt basis, suspended losses and non-cash distributions.

The discussion of C corporations provides guidance on tax operating characteristics of the C corporation including accounting methods, choice of year-end, capital losses, net operating losses and a summary of consolidated return rules. Our discussion of C corporate reasonable compensation also includes an analysis of constructive dividend problems and concludes with a review of such problem issues as personal holding companies (PHC), personal service companies (PSC) and the accumulated earnings tax (AET).

Our LLC/partnership discussion includes organizational income tax elections and definitions and then moves to a completed example Form 1065. We discuss converting an LLC to an S corporation and provide an example election. We then move to operating issues of an LLC such as guaranteed payments, tax-free formation, partner self-employment tax issues, basis, ownership transfers and the sale of a partnership interest. An in-depth discussion of equity accounts is provided along with detailed analysis of debt basis.

Sponsor Details

State Sponsor: Montana Society of Public Accountants

Phone: (406)442-1700

Email: laser1040bymariegard@gmail.com,

Sponsor Details

Sponsor: Montana Society of Public Accountants

To establish a respected public image of accounting and tax professionals who are dedicated to public practice.
To encourage a professional level of competence character and integrity by providing continuing professional education to increase the knowledge and efficiency of its members.
To promote the highest standard of ethical conduct among its members
To represent the accounting and tax professionals at the state and national levels and protect the right to practice.
To seek the enactment of laws and the corrections or modification of existing laws in the interest of the profession and the general public.
To alert members to some of the significant
developments in tax laws in the interest of the profession.
To publicize the achievements of individual members through appropriate national, state and local media.
To serve as a clearing house for the dissemination of timely information on all matters of interest to accountants in public practice.
To Encourage the camaraderie among its members.

Attendee Requirements

Call society/sponsor for location and hotel information as needed.

All policies and registration and fees are established by society/sponsor.

Dress warmly in layers as the room may be cool.

Event Details
Seating:
LIMITED
Cost:
$0.00
Hours:
8
Event Dates and Times

TIME ZONES: PLEASE NOTE: All live seminar times are listed for the time zone which the seminar is being held.

Date:   October 25, 2017
Time:   8:00 AM    Add to Outlook
 
Contact Information
Speaker Bio(s)
Res bill square
Bill Leonard, CPA, CFFA

Bill Leonard CPA, CFFA holds licenses and memberships in Massachusetts, Rhode Island, Alaska and Singapore. He is the sole shareholder of W.A. Leonard & Company, P.C. and PT W.A. Leonard employing sixteen multi-lingual professionals that focus on meeting the needs of small businesses, individual...

Contact:
Jamie Cortez
Email:
mspaemail@mspamt.org
Phone:
406-442-1700
Testimonials

Testimonial

Event Objective
Upon completion of this course, you will be able to-Explain the latest changes in tax law to your business clients; Inform clients of the various characteristics and tax implications of the C corporation form of business entity; Determine if a corporation qualifies to file the election for S status; Explain S corporation equity accounts to clients; Explain the differences in entity types to clients; Provide clients with the characteristics, advantages, and disadvantages of LLCs; Advise client on converting to an LLC from other business entity types; Advise clients about methods of accounting and partnership/LLC tax returns; and much more..

Field of Study
Taxes

Prerequisites
1 year tax preparation experience

Event Level
Update

NASBA Category
Taxes