Small Business: Hot Tax Issues Today! WEBCAST
Overview
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.
Highlights
Record retention, record production to the IRS and related matters. Dealing with IRS correspondence and penalty notices. The IRS attack on limited partners and LLC members for additional self- employment tax intensifies. Subchapter S employment tax issues and reasonable compensation. Choice of Entity and Using Hybrid Entities with differing federal and state classifications. Subchapter S inadvertent termination traps and the cost of remedies. Business Exit Strategies and using various types of entities in tandem. Should your accounting firm assist in filing Beneficial Ownership Information Reports with FinCen?
Prerequisites
None.
Designed For
Every CPA who supports and serves small businesses and their owners.
Objectives
Learn how the IRS will increase its small business audit emphasis. Receive answers to common tax issues from true experts in the field.
Preparation
None.
Notice
None.
Leader(s):
Leader Bios
James Smith, BPN Inc
James A. Smith, CPA, serves as Managing Director of Smith, Jackson, Boyer & Bovard, PLLC, a Dallas based, full service Certified Public Accounting firm. Mr. Smith began his career with a major international accounting firm where he served in both the audit and tax divisions. Mr. Smith has appeared as a featured commentator on all four Dallas/Ft. Worth network news stations, including three and one-half years as a featured business commentator on KXAS, TV5; on the TSCPA “CPAs on Call” state wide tax television program; and on various radio news programs. He has conducted seminars on tax and financial planning for the Dallas Chapter of the TSCPA and stock brokerage firms and life insurance companies, and on marketing and practice management for the TSCPA, the North Carolina Association of CPAs, the Arkansas Society of CPAs, the Pennsylvania Institute of CPAs, and the American Institute of CPAs. Mr. Smith served as Chair of the Texas Society of CPAs (TSCPA) for the 2007-2008 year, and as a member of its Executive Board and its Board of Directors. He is currently serving a three year term as an elected member of the American Institute of CPAs (AICPA) Council and is an appointed member of the AICPA Accounting and Review Services Committee. In recognition of his service, Mr. Smith has been named by the TSCPA as Outstanding Steering Committee Chairman for the year 1999-2000, Outstanding Committee Chairman for the year 1995-1996, and Outstanding Committee Member for the Year 1992-1993 and 1995-96. The Dallas Chapter of the TSCPA also named him CPA of the Year for 1999-2000. Mr. Smith is a Certified Public Accountant in the state of Texas and is a graduate of Southern Methodist University with a BBA in Accounting and Economics.
Non-Member Price $300.00
Member Price $250.00