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Business Entity Considerations Under the Tax Cuts and Jobs Act

Earn two CE Federal Tax with Lawrence Pon, CPA, EA
February 13, 2020 from 2:00 pm – 3:40 pm EST

Live Online IRS Program Number: X9QQU-T-00633-20-O
Self-Study IRS Program Number: X9QQU-T-00633-20-S

You are now preparing tax returns in the second year of the Tax Cut and Jobs Act. You have learned a great deal since last tax season and gotten more guidance from the IRS. This course will review the tax planning and tax preparation issues you need to consider when clients are asking you which entity they should choose to do business. What are the pros and cons? Is there a right answer? This course will examine the new provisions and strategies relating to tax-deferred retirement plans, the pass-through business deduction, salary and compensation strategies, real estate investment, and more. The focus will be on small business issues that you will most likely see with your clients.

Learning Objectives

Upon completion of this course, you will be able to:

  • Understand how the choice of entity will affect QBI outcomes.
  • Understand how a Roth conversion can maximize your QBI deduction.
  • Identify how to avoid a compensation audit from the IRS for your S corporation client.
  • Show your clients the appropriate compensation strategy for your corporate clients.
  • Understand the new real estate strategies for your clients with rental income.
  • Consider the IRS audit rates for the various business entities.
  • Identify the tools this tax season to make good decisions for depreciation.