Exploring Client Advisory Services - Entity Types
Available Until
Self-study
1.00 Credits
Member Price $39.00
Non-Member Price $59.00
Overview
One of the first things that you need to do when you start a business is pick out an entity type. However, the type of entity that you choose can have a significant impact on your tax situation. Self-employment taxes, the QBI deduction, and other factors need to be considered. In this course, we will explore the basic tax implications of choosing various entity types. We will discuss the differences between flowthrough and standalone entity types, including both tax and practical considerations - all so you can make the best decision possible for your business!
Highlights
- Business Entity Considerations
- Flowthrough Entities
- Self
- Employment Taxes
- Guaranteed Payments
- QBI Deduction
- Double Taxation
- Review Questions
- Summing It Up
Prerequisites
None
Designed For
Small business owners and bookkeepers who want to better understand how the choice of entity affects tax issues and tax strategy
Objectives
- Identify the basic tax characteristics of flow
- through and standalone entities
- Recall the calculation of self
- employment taxes
- Recognize how a taxpayer may benefit from the QBI deduction (Sec 199A)
Preparation
None
Notice
This is a self-study/on demand course offered by a 3rd party vendor and will not be accessible in the My Upcoming CPE section of the ISCPA website. Course access information will be emailed directly to you by Peters Professional Education (PPE). The course expires one year from the purchase date.
Leader(s):
Leader Bios
David Peters, Peters Professional Education LLC
DAVID R. PETERS, CPA, CFP, MST, CPCU, CLU
David Peters is the Founder and Owner of Peters Professional Education and Peters Tax Preparation & Consulting, PC. He is also a financial advisor for Peters Financial, LLC. David has over twenty years of experience in financial services, including 3 years in the hedge fund industry and 14 years in the insurance industry. David was the first-ever Chief Financial Officer at Compare.com - a position he held for more than three years.
In addition to running his own professional education website, David is a National Instructor for the AICPA, Surgent, Kaplan, and Don Farmer Tax Seminars. He was a recipient of Surgent's Outstanding Discussion Leader award in 2019 and 2022, as well as the AICPA's Outstanding Facilitator Award in 2021 and 2023. He regularly teaches courses in accounting, finance, insurance, financial planning, and ethics throughout the United States. David holds four masters degrees, and is currently pursuing his PhD in Financial Planning. He contributes regularly to various CPA publications, including NCACPA's Interim Report, SCACPA's CPA Report, and VSCPA's Disclosures. David was also a co-author of the 2018, 2019, and 2020 Virginia CPA Ethics courses - a required course for all CPA's licensed in the Commonwealth of Virginia.
- Website: www.petersprofessionaleducation.com
- YouTube: www.youtube.com/@DavidPetersFinancial
- LinkedIn Company: https://www.linkedin.com/company/95657499/admin/analytics/updates/
- LinkedIn Personal: https://www.linkedin.com/in/david-peters-financial/
- Facebook: https://www.facebook.com/davidpetersfinancial
- Twitter/X: https://x.com/DavidPFinancial
Non-Member Price $59.00
Member Price $39.00