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

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. In addition, this course will discuss current trends and emerging issues, helping practitioners stay informed about relevant and significant topics that may impact their clients. Continually updated to reflect enacted legislation.

Objectives

Understand the major issues on which taxpayers and the IRS are in conflict

Understand recent IRS guidance and legislation impacting pass-through entities

Highlights

Congressional Budget Reconciliation Process - explore how this powerful legislative tool allows Congress to fast-track tax law changes and how it could be used to enact significant tax reforms in the current political climate

President Trump's tax proposals - review key components of President Trump's tax agenda, including a tip income exemption, overtime pay relief, Social Security tax exemption, auto loan interest deductibility, SALT deduction modifications, a lower corporate tax rate, restoration of 100% bonus depreciation, immediate R&D expensing, and permanent extension of select TCJA provisions

Potential expiration of select TCJA provisions - understand the implications for taxpayers as key provisions of the TCJA approach sunset dates

Tariff policy and implementation - analyze the use of tariffs as a fiscal and trade policy tool

Principles and considerations for nonresident withholding, composite payments, and passthrough entity taxes

Partnership Distributions, Form 7217, and S Corporation Redemptions

Thinking beyond §163(j) -- Interest Allocation Rules, Original Issue Discount, Applicable High Yield Discount Obligations,

Convertible Corporate Debt Instruments, and Debt-Financed Distributions

Timely coverage of breaking tax legislation

Selected Practice and Reporting Issues: What’s new?

A review of recent cases and tax law changes and IRS guidance affecting S corporations, partnerships, limited liability companies, and limited liability partnerships

Form 1099-K reporting requirements

Bonus depreciation

Section 174 Research & Experimental Expenditures -- guidance under Notice 2023-63 and Notice 2024-12

Decentralized Autonomous Organizations (DAOs)

Designed For

All tax practitioners, both those working in public accounting as well as those in private industry, who need the latest information on tax changes affecting their business clients or employers

Prerequisites

Experience with pass-through entity clients

Preparation

None

Notice

By registering for this program and, accordingly, receiving the eMaterials, you’re acknowledging that you understand both the copyright restrictions on your eMaterials and the CTCPA cancellation policy.

Fees

Credits

Level

Code

Vendor

Fields of Study

Leader(s):

John Kilroy, Surgent McCoy CPE, LLC

Leader Bios

John Kilroy, Surgent McCoy CPE, LLC

John Kilroy is a managing member of iValue Financial Planning LLC, located in the Philadelphia, Pennsylvania area. John engages clients in financial and tax planning, as well as preparing tax returns for individuals, corporations, partnerships, estates, and trusts. John is a CPA and a CFP® practitioner. He is a 1979 graduate of Villanova University with a BS in Accounting. John is a member of the Pennsylvania Institute of Certified Public Accountants and the Financial Planning Association (FPA). Within the FPA, John has served as a board member of the Philadelphia Tri-State chapter and on its education and finance committees. John is an adjunct faculty member for the Temple University Certificate of Financial Planning Program. He is a frequent speaker and facilitator on tax and financial planning topics. John has been quoted in the Wall Street Journal, MarketWatch.com, and USATODAY.com. He has written for the Journal of Financial Planning, and is a contributor to Retirement Weekly. John has also discussed financial and tax planning issues on various radio outlets.

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