Courses

Surgent's Unique Tax Attributes of Different Entity Types

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Member Price: $99.00 Non-Member Price: $129.00

Date/Time:: Feb 24, 2025, 1:00pm–3:00pm
Developer:: SURGENT MCCOY SELF-STUDY CPE, LLC
CPE Credits:: Taxes: 2.00
Fields of Study:: Taxes
Level:: Basic

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.

Objective

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

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?

Designed For

Accounting and finance professionals who work with entrepreneurial clients or clients in the beginning stages of starting a business

Prerequisite

None

Advanced Preparation

None