COURSE OVERVIEW:

Business creation and the evolution of hobby to business drastically influence the preparation of a client’s tax return. Many times clients will either have questions related to entity formation for their tax preparer or they will form entities without understanding the advantages and limitations related to entity formation.

This 2-hour webinar covers the differences between S-Corporations, C-Corporations, Partnerships, and Sole Proprietors concerning tax law. Attendees will learn the tax advantages and disadvantages of each entity so that they may advise clients appropriately. Through case studies, attendees will learn to identify the tax outcomes based on entity type allowing them to better advise their clients.

LEARNING OBJECTIVES:

At the end of this 2-hour workshop, you'll be able to

• Articulate the differences between S-Corporations, C-Corporations, Partnerships and Sole Proprietors
• Highlight the tax advantages of each entity type
• Highlight the limitations of each entity type
• Better advise clients regarding entity formation based on possible tax outcomes, advantage and limitations
• Successfully complete a complex client case study.

WHY SHOULD YOU ATTEND THIS WEBINAR?

In this comprehensive two-hour webinar, we will explore the distinctions among S-Corporations, C-Corporations, Partnerships, and Sole Proprietors within the framework of tax law. Participants will gain a deep understanding of the tax benefits and drawbacks associated with each entity, enabling them to provide informed guidance to their clients. Utilizing practical case studies, attendees will develop the ability to discern tax implications based on entity type, enhancing their advisory capabilities.

Key topics covered will include basis calculations, ordering rules, as well as compensation and tax obligations specific to each corporate type. Join us to elevate your tax expertise and better serve your clients through enhanced entity-specific tax insights.

AREAS COVERED:

• Impact of Tax Cuts and Jobs Act on Business Entities
• Gathering information from clients and being part of a team to support them
• Engagement Management
• Sole Proprietor (advantages, disadvantages, hiring children, spouses, warnings)
• Partnerships (advantages, disadvantages, basis, ordering rules, debts, BBA Audit Rules)
• S-Corporations (advantages, disadvantages, debt, start-up, reasonable compensation, basis, debt, shareholder loans, basis tracking)
• C-Corporations (advantages, disadvantages)
• Case Study Analysis
• Qualified Business Income
• Management Companies
• DayCares
• Investment Advisors and Entity Selection (review of tax court cases)
• Takeaways
• Final Case Studies

WHO WILL BENEFIT:

• Accountants
• CPAs
• Tax Preparers
• Bookkeepers
• Enrolled Agents
• Office Managers
• Small Business Owners
• Entrepreneurs

ABOUT THE INSTRUCTOR:

Jason Dinesen (EA, LPA) is a tax nerd, entrepreneur, tax expert, and a well-known presenter of continuing education courses.

Known for his sharp tax interpretations, he is one of the quickest to bring the analysis of the latest tax updates and IRS guidance to the professional community. Jason has coached over 200,000 accounting, tax, and HR professionals on various topics of accounting, individual taxation, corporate taxation, professional ethics, and much more.

He has presented dozens of webinars on Form 1099 (for 10 years on this subject!); marriage in the tax code; tax updates; the new Form W-4, payroll updates, filing status, tax credit, and other issues relating to the modern-day household setting.

He also teaches Individual Income Tax and Business Analytics.

Jason always had a knack for radio shows and he regularly features as an anchor for Radio Iowa. Jason was born and raised in Iowa and has a degree in corporate communications from Simpson College in Indianola.

Refund policy:

Attendees may cancel up to two working days before the course start date and the refund will be processed within two working days.

We will process/provide a refund if the webinar is canceled. Refunds will not be given to participants who do not attend the webinar. On-demand recordings can be requested in exchange. Webinar may be canceled due to lack of enrolment or unavoidable factors. Attendees will be notified 24 hours in advance if a cancellation occurs. Substitutions can happen anytime.

If you have any concerns about the content of the webinar and are not satisfied please contact us at [email protected]