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The Top 50 Business Tax Mistakes Practitioners Make and How to Fix them (BTBB14)
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If only we could see ourselves as others see us. Learn the traps practitioners fall into -- before you make the mistake Attend this enjoyable yet very informative course that will explore, in a practical way, the top errors made in compliance and tax planning for business entities. The focus of this course is how to avoid these missteps and plan for a better tax result. Experienced practitioners will benefit from a wealth of knowledge that can be applied to their practice.

12/2/2014
When: 12/2/2014
8:30 AM until 4:30 PM
Where: Hilton Lafayette
1521 W. Pinhook Road
Lafayette, Louisiana  70508
Presenter: Peter J. Towle


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If only we could see ourselves as others see us. Learn the traps practitioners fall into -- before you make the mistake Attend this enjoyable yet very informative course that will explore, in a practical way, the top errors made in compliance and tax planning for business entities. The focus of this course is how to avoid these missteps and plan for a better tax result. Experienced practitioners will benefit from a wealth of knowledge that can be applied to their practice.

Designed for: CPAs who wish to get a broader insight into tax planning by understanding the significant mistakes professionals can make and how to avoid them

Objectives:

  • Recognize business transactions that have significant tax effects and the need to do proper tax planning.
  • Be aware of the most substantial mistakes that practitioners can make in dealing with the tax aspects of businesses.

Highlights:

Delve into the unique pitfalls inherent in using any entity structure in operating a business, including:

  • S Corporations: Finding hidden gains in Schedule K-1 due to lack of basis and failure to structure debt correctly; big mistakes if you do not plan correctly in a liquidation; what is reasonable compensation to shareholder employees; distributions and unwanted tax liabilities; failure to make proportionate contributions and distributions; and much more!
  • LLCs and partnerships: when you can't take wages; good tax debt vs. bad tax debt; ignoring the operating agreement if special allocations do not meet the substantial economic effect test; failure to recognize taxation on service partners; breakdown in distinguishing between a draw and a guaranteed payment; oversight in not taking into account limitations at the entity level; pension issues; and much more!
  • C Corporations: Keeping a stock redemption a capital transaction, why small business owners should consider taking dividends; what is unreasonable compensation and is it important today; getting hit with double taxation; and much more!

Discover the tricks and traps in:

  • Travel and entertainment: the IRS has won a lot of battles denying tax deductions in this arena. It takes great planning and skillful documentation to win. See the big mistakes and what it would take to fix them.
  • Related party transactions: explore business issues and the significant tax problems that can occur with failure to recognize a related party transaction.
  • Miscellaneous topics: a host of other important issues will also be covered in brief.

Requisite Knowledge: Experience with business clients

Speaker: Peter J. Towle
Vendor: Surgent McCoy
Field of Study: Taxation
Level: Intermediate
CPE Credits: 8

Registration Fees:

Members

CPA Non-Members

Early Bird (through 11/13)

$276

$376

Standard (after 11/13)

$326

$426

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