Tax Considerations and Consequences for Closely Held Businesses

Provide insightful recommendations for the challenges faced by your closely held business clients. Employ smart business decisions that will minimize the tax burden, not only on the business, but also on the owners. The concepts are uniquely laid out in the course to allow you to easily and quickly identify those tax-saving strategies that fit your client’s situation. Course materials include the impact of the Tax Cuts and Jobs Act of 2017 (TCJA) tax reform law.

Learning Objectives

Learning Objective: 

When you complete this course you will be able to:

  • Recognize developing tax issues that are impacted by the business’ operations.
  • Recall key points concerning strategies relating to benefits, choice of entity, basis considerations, financing alternatives, passive activity, nexus, cancellation of debt, bankruptcy, and compensation.
  • Identify how to implement strategies to reduce the taxes paid by the business.
  • Recognize and plan for the impact of the business taxes upon the owners of the business.

Topics Discussed

Topics Discussed: 
  • Entity options
  • Compensation
  • Retirement plans and deferred compensation
  • Passive activities and at-risk issues
  • Shareholder/partner basis
  • Insolvency and bankruptcy
  • Business losses
  • Distressed properties
  • Tax credits
  • Succession planning
  • Multistate taxation

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COURSE CODE

CHTX

FIELD OF STUDY

Taxation

CPE CREDIT HOURS

8

KNOWLEDGE LEVEL

Intermediate

INTENDED AUDIENCE

Managers and partners in public accounting who assist clients with tax planning and transactions, and owners and CFOs of closely held businesses

PREREQUISITE

Experience in business taxation

ADVANCED PREPARATION

None

DELIVERY METHOD

Group Live
Self-Study On-Demand

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(Outside the U.S.) CGMAstore.com


CONTACT A TRAINING REPRESENTATIVE:


1-800-634-6780 Option 1
aicpalearning@aicpa.org

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