ACPEN Signature 2024: Small Business: Hot Tax Issues Today!

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.

**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 kori.herrera@acpen.com.

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

This course is offered by a 3rd party vendor and will not be accessible in the My CPE Tracker section of the ISCPA website. Course access information will be emailed directly to you by Accounting Continuing Professional Education Network (ACPEN).