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

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. Continually updated to reflect enacted legislation.

Prerequisites

Experience with pass-through entity clients

Objectives

• Understand the major issues on which taxpayers and the IRS are in conflict
• Understand how COVID-19 legislation impacts planning for pass-throughs
• Understand recent IRS guidance and legislation impacting pass-through entities

Highlights

• A new supplement discussing major provisions of The Build Back Better Act, as well as key provisions of the Infrastructure Investment and Jobs Act 
• Key provisions of Senate Finance Committee Chairman Rob Wyden's Pass-Through Reform Discussion Draft
• The CARES Act, FFCRA, CAA 2021 and ARPA COVID-19-related provisions, including employer credits, SBA loans, RRF grants, and expanded leave programs
• Updated guidance on partnership tax basis capital account reporting requirements 
• Continued, updated guidance on the impact of the TCJA on S corporations and partnership entities
• New proposed regulations regarding the centralized audit regime
• Selected Practice and Reporting Issues: What’s new?
• A review of recent cases, rulings, and tax law changes affecting S corporations, partnerships, limited liability companies, and limited liability partnerships
• Choice of entity issues, with a preview of the potential impacts of the Biden administration's proposed Made in America tax plan
• An overview of the state tax issues related to remote work during the COVID-19 pandemic
• Employee vs independent contractor considerations that companies should be aware of
• Detailed review of §465 at-risk and §469 passive activity loss limitation rules
• Impact of the CARES Act on §§163(j) and 461(l)
• Impact of the net investment income tax on the owners of pass-through entities
• Any late-breaking tax legislation
• Review of the most important business tax cases, revenue rulings, PLRs, etc.