The Best S Corporation, Limited Liability, and Partnership Update Course by Surgent

Overview

This year practitioners need to keep abreast of tax changes affecting pass-through entities used by their business clients and employers, and this enlightening course delivers that information. You will learn invaluable strategies, techniques, innovative tax-planning concepts, income-generating ideas, and other planning opportunities available to S corporations, partnerships, LLCs, and LLPs. In addition, this course will discuss current trends and emerging issues, helping practitioners stay informed about relevant and significant topics that may impact their clients. Continually updated to reflect enacted legislation.

Highlights

Discussion of key individual provisions of the One Big Beautiful Bill Act, such as TCJA provisions made permanent, new tip income deduction, new overtime pay deduction, Trump accounts, and the expanded SALT cap
Comprehensive coverage of business provisions of the One Big Beautiful Bill Act, including but not limited to:
- Bonus Depreciation made permanent
- Increased §179 deduction
- Changes to §174 R&E Expenditures
- Changes to §163(j)
- Form 1099/1099-K changes
- Qualified Small Business Stock Exclusion
- Excess Business Loss Limitation
Section 1244 Small Business Stock and Section 1202 Qualified Small Business Stock treatment and applicability
Principles and considerations for nonresident withholding, composite payments, and passthrough entity taxes
Partnership Distributions, Form 7217, and S Corporation Redemptions
Thinking beyond §163(j) -- Interest Allocation Rules, Original Issue Discount, Applicable High Yield Discount Obligations, Convertible Corporate Debt Instruments, and Debt-Financed Distributions
Timely coverage of breaking tax legislation
Selected Practice and Reporting Issues: What’s new?
A review of recent cases and tax law changes and IRS guidance affecting S corporations, partnerships, limited liability companies, and limited liability partnerships
Decentralized Autonomous Organizations (DAOs)

Prerequisites

Experience with pass-through entity clients

Designed For

All tax practitioners, both those working in public accounting as well as those in private industry, who need the latest information on tax changes affecting their business clients or employers

Objectives

Understand the major issues on which taxpayers and the IRS are in conflict
Understand recent IRS guidance and legislation impacting pass-through entities

Preparation

None

Credits

Level

Code

Vendor

Fields of Study

Leader(s):

David Peters, CPA Crossings, LLC Two Commerce Square

Leader Bios

David Peters, CPA Crossings, LLC Two Commerce Square

David R. Peters, CPA, CFP, CPCU, MST, MBA Peters Tax Preparation & Consulting, Richmond, VA & Rock Hill, SC David Peters is an independent tax preparer for Peters Tax Preparation & Consulting, and a financial advisor and outside representative for Carroll Financial Associates. He has over fourteen years of experience in financial services, including three years in the hedge fund industry and six years in the insurance industry. David was the first-ever Chief Financial Officer of Compare.com, an insurance price comparison company - a position he held for over three years. He was also instrumental in the early success of Elephant Auto Insurance, a six state auto insurance carrier, located in Glen Allen, VA. He holds four masters degrees, and is currently pursuing his PhD in Financial Planning. He regularly teaches courses in accounting, finance, insurance, financial planning, and ethics in Virginia, North Carolina, and South Carolina. He is an Adjunct Professor in Finance and Accounting at Winthrop University in Rock Hill, SC, and teaches regularly for Kaplan Test Preparation. He contributes regularly to various CPA publications, including NCACPA’s Interim Report, SCACPA’s CPA Report, and VSCPA’s Disclosures.

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