Lifecycle Financial Planning - Unique Tax Attributes of Different Entity Types for Entrepreneurs

Overview

When putting together a financial plan for an entrepreneur, 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.

Highlights

• Considerations for a Small Business Owner
• Self
• Employment Taxes
• Guaranteed Payments to Partners
• QBI Deductions
• Sec 199A
• Built
• In Gains Tax
• S
• Corporations

  Excess Passive Income Tax

• S
• Corporations

  PTE Elections

• S
• Corporations & Partnerships

  Taxation of Fringe Benefits

• S
• Corporations

  Double

• Taxation of C
• Corporation Dividends

• Taxation of Limited Liability Companies
• Which Entity to Choose?

Prerequisites

Basic understanding of the federal taxation of different entity types.

Designed For

Financial advisors and tax practitioners who work with entrepreneurial clients or clients in the beginning stages of starting a business.

Objectives

• 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.

Preparation

None

Notice

This is a self-study/on demand course offered by a 3rd party vendor. Course access information will be emailed directly to you by Peters Professional Education (PPE). The course expires one year from the purchase date.