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S Corporations: Crucial Insights: Maximizing The §199A QBID For S Corporations, Restructuring Intercompany Debt, And Other Planning Insights.

S Corporations: Crucial Insights: Maximizing The §199A QBID For S Corporations, Restructuring Intercompany Debt, And Other Planning Insights.

2 Credits

$20

Subject Area

Taxes

Webinar Qualifies For

2 CPE credit of Taxes for all CPAs

2 CE credit of Federal Tax Update for Enrolled Agents ( IRS Approved : GEHNZ ) (Approval No. GEHNZ-T-00342-20-S)

2 CE credit of Federal Tax Law Update for California Tax Professionals (CTEC Approved-6273) (Approval No. 6273-CE-0346)

2 CE credit of Annual Filing Season program (AFSP)( IRS Approved : GEHNZ )

2 CE credit of Federal Tax for Maryland Tax Preparers (Approval No. GEHNZ-T-00342-20-S)

2 CE credit of Federal Tax Update for Oregon Tax Preparers (Approval No. GEHNZ-T-00342-20-S)

2 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Before starting this self study program, please go through the instructional document.

Overview

  • Restructuring Intercompany Loans
    5 mins
  • Solution
    12 mins
  • QBID
    20 mins
  • Sole Proprietor vs. S corp
    34 mins
  • Importance of "Goldilocks" Amount
    47 mins
  • New Owners: Contribution or Sale
    60 mins
  • S Corp Home Office Expense
    76 mins

Course Description

The qualified business income deduction under section 199A is so complex that the taxpayer may incur large penalties over their tax dues instead of getting the deduction if not applied correctly with proper understanding. 

Though it is undeniable fact that under IRC 199A taxpayers have received one of the best new tax deductions from Tax Cuts and Jobs Act – i.e. new 20% qualified business income deduction. Indeed the issues in the case of Qualified Business Income Deduction is not only about learning and understanding the code, but also about making sure the tax calculations are done with accuracy. This webinar takes a deep dive into maximizing the QBID for S corporations. 

Due to numerous reasons such as economic challenges; to increase financial tax or operating efficiency; to adapt to new market dynamics, or debt/loss situation, etc. take the path of drastically changing their capital structure. Such capital restructuring brings numerous accounting and tax complexities, financial reporting, and other compliances, etc. Sometimes identifying such issues in time provides you numerous advantages. In case, there is such a restructuring between an intercompany debt transaction that is aimed to provide the shareholders with more basis, how should it take place? The webinar will take the topic in a detailed discussion on this. Further, whether it is in the interest of the shareholders to provide the funds to the company as a loan or contribution.

Major Topics:

  • Section 199A – special considerations for S corporations.
  • Restructuring intercompany debt to increase shareholder basis. 
  • Transferring funds to an S corporation: Are loans better than capital contributions?

The speaker has a practical approach and will include practical examples to explain the topic. These explanation styles will benefit CPAs, EAs, Other Tax Professionals, and Other Accounting Professionals in clarifying their understanding on the subjects. 

Learning Objectives

  • To recognize how to Restructuring Intercompany debt to provide basis to shareholders
  • To recall Qualified Business Income Deductions
  • To identify how to maximize the section 199A deduction for clients in the context of S corporations.
  • To recognize Wage Planning as a strategies for all business structures
  • To compare the benefits of transferring funds to an S corporation by way of loans or capital contributions

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Certified Public Accountant
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Enrolled Agent
  • Senior Accountant
  • Staff of Accounting Firm
  • Young CPA

Testimonial

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