ACPEN Signature 2023: Small Businesses: Big Tax Problems!
In addition to the many challenges faced by small businesses in today’s Post-COVID world, with labor shortages, serious inflation and “supply-chain” issues, small businesses face a variety of tax challenges from the time of formation of the business until sale. There are numerous special rules in the Code. And the IRS plans on increasing its small business audit emphasis. Join us for this brand new CPE seminar developed by ACPEN.
**Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to leighanne.conroy@acpen.com.
Basic Course Information
Learning Objectives
- Learn how the IRS will increase its small business audit emphasis
- Receive answers to common tax issues from true experts in the field
Major Subjects
- Tax implications of the form of entity (LLC v limited partnership v corporation, Sub S or Sub C) versus tax classification;
- The “check the box’ rules and conversion of filing status;
- Special tax breaks for small business and keeping the cash method;
- Subchapter S and partnership fringe benefit issues;
- Under reporting of compensation income by owner-employees of both partnerships and Sub S entities,
- The current status of Subchapter S “built-in gain” rules,
- Subchapter S inadvertent termination traps; and Business exit strategies