Event Description

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. Continually updated to reflect enacted legislation.

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

Objectives

understand the drivers of fraud risk in a financial statement audit     Conduct procedures required by professional literature to assess the risk of fraud     Develop discussion points to review with management and those charged with governance     Identify the main types of fraud that occur in small to mid-sized companies and develop internal controls responsive to those risks     Evaluate fraud case examples and identify how fraud occurred and how it could have been prevented or detected

Major Subjects

Comprehensive coverage of the Inflation Reduction Act of 2022 and the SECURE 2.0 Act of 2022    Timely coverage of breaking tax legislation     Schedules K-2 and K-3 reporting requirements     Form 7203, S Corporation Shareholder Stock and Debt Basis Limitations     Overview of the economics and tax consequences of crowdfunding campaigns      The Centralized Audit Regime     Selected Practice and Reporting Issues: What’s new?     A review of recent cases, rulings, and tax law changes affecting S corporations, partnerships, limited liability companies, and limited liability partnerships     Choice of entity issues     Partnership Agreements – qualified income offset and unlimited deficit restoration clauses     Employee vs independent contractor considerations that companies should be aware of     A review of like-kind exchange transactions under §1031     State and local taxes: pass-through entity workarounds     Carried interest     Accounting method reform     Special basis adjustments, including comprehensive examples     Impact of the net investment income tax on the owners of pass-through entities     Review of the most important business tax cases, revenue rulings, PLRs, etc.

Prerequisites

Experience with pass-through entity clients