Webcast: Surgent's Unique Tax Attributes of Different Entity Types
2.0 Credits
Member Price $75.00
Non-Member Price $100.00
Overview
When putting together a financial plan, it is important to remember that the tax situation of the business and the individual are often intertwined. Therefore, decisions about entity type are vitally important. Practitioners need to understand not only how different entities are taxed, but also which taxes will have the greatest impact on the individual owner. In this course, we will explore when self-employment taxes apply to business income, as well as some of the lesser-known taxes that apply to flow-through entities. We will even explore when a PTE election could be helpful to a small business owner.
Highlights
- Considerations for a small business owner
- Self-employment taxes
- Guaranteed payments to partners
- QBI deductions: Section 199A
- Built-in gains tax: S corporations
- Excess passive income tax: S corporations
- PTE elections: S corporations and partnerships
- Taxation of fringe benefits: S corporations
- Double taxation of C corporation dividends
- Taxation of limited liability companies
- Which entity to choose?
Prerequisites
None
Designed For
Accounting and finance professionals who work with entrepreneurial clients or clients in the beginning stages of starting a business
Objectives
- State the basic distinctions between various entity types
- Identify when self-employment taxes must be paid by a flow-through entity owner
- Recognize how an S corporation can avoid the built-in gains tax
- Recall which entity types may make a PTE election under IRS Notice 2020-75
Leader(s):
Leader Bios
David Peters, CPA, CFP, CLU, CPCU, MST, Surgent McCoy CPE, LLC
David Peters is the founder and owner of Peters Tax Preparation & Consulting in Richmond, VA, and a Financial Advisor for Peters Financial, LLC. He has over fifteen years of financial services experience, including three years in the hedge fund industry and six years in the insurance industry. David was the first-ever Chief Financial Officer at Compare.com - a position he held for over three years. He is a national CPE Instructor/Discussion Leader for the AICPA, Kaplan, and Surgent and was a recipient of Surgent’s Outstanding Discussion Leader award for 2019. He regularly teaches accounting, finance, insurance, financial planning, and ethics throughout the United States. He is the advisor for Business & Industry topics for the SC Association of CPAs and was a recipient of The American College’s 2019 NextGen Financial Services Professional Award. He holds four Master’s degrees and is currently pursuing his Ph.D. in Financial Planning. He regularly contributes to various CPA publications, including NCACPA’s Interim Report, SCACPA’s CPA Report, and VSCPA’s Disclosures. He was also a co-author of the 2018, 2019, and 2020 versions of the Virginia CPA Ethics course – a required course for all CPAs licensed in the Commonwealth of Virginia.
Non-Member Price $100.00
Member Price $75.00