21 Tax-Cutting Moves for Small Businesses and Their Owners

CATEGORY: Taxation

COURSE ID: CLSUMA, VERSION 3.00

(339)

Online & Mobile

5 CPE Credits

Level: Intermediate

21 Tax-Cutting Moves for Small Businesses and Their Owners covers some of the best tax-reduction strategies available to small business entities and their owners. Included are strategies for sole proprietorships, husband-wife businesses, partnerships, LLCs, LLPs, and corporations. Strategies are explained in plain English with plenty of examples. This course will help you find more ways to save taxes for your small business clients and help you to implement the necessary tax-planning steps. This course offers the most benefits to CPAs with limited exposure to federal income tax issues affecting small business entities and their owners.

5 Credits

$89.00

Online & Mobile

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Tax-Smart Strategies for Sole Proprietorships and Husband-Wife Businesses in Uncertain Economy
1. Strategy No. 1: Sole Proprietors Can Hire Their Spouses with Tax-Saving Results
2. Strategy No. 2: Sole Proprietors Can Hire Their Spouses and Combine Section 105 Medical Reimbursement Plan with HSA for Bigger Tax Savings
3. Strategy No. 3: Sole Proprietors and Husband-Wife Partnerships Can Hire Their Children with Tax-Saving Results
4. Strategy No. 4: Take Advantage of Tax Breaks for Vehicles Used for Business
5. Strategy No. 5: Combine Heavy Vehicle with Home Office for Big Tax Savings
6. Strategy No. 6: Claim Section 121 Gain Exclusion for Home Office Part of Principal Residence
7. Strategy No. 7: Deducting Education Costs as Self-Employed Business Expenses
8. Strategy No. 8: Avoiding Improper Classification of Husband-Wife Business as Tax Partnership
9. Strategy No. 9: Reducing Self-Employment Taxes for Unincorporated Husband-Wife Businesses
10. Strategy No. 10: Take Advantage of Special SE Tax Break for Unincorporated Husband-Wife Businesses in Community Property States
11. Strategy No. 11: Characterizing Client's Money-Losing Sideline Activity as a For-Profit Business
Tax-Smart Strategies for Partnerships, LLCs, and LLPs
1. Strategy No. 12: Avoiding Unwanted Partnership Tax Status for Activities with Several Owners
2. Strategy No. 13: Getting Best Tax Results When Partner Pays Expenses for Partnership's Business
3. Strategy No. 14: Making Guaranteed Payments to Partners
4. Strategy No. 15: Structuring Partnership Payments to Retired Partners to Be Exempt from SE Tax
5. Strategy No. 16: Optimizing Tax Results for Active LLC Members under the PAL Rules
6. Strategy No. 17: Dealing with the SE Tax Issue for LLP Partners
7. Strategy No. 18: Paying Preferred Returns to Partners and LLC Members Instead of Guaranteed Payments to Increase QBI Deductions
Tax-Smart Strategies Using C and S Corporations
1. Strategy No. 19: Consider the Qualified Small Business Corporation (QSBC) Option
2. Strategy No. 20: Making Tax-Smart Choice of Business Entity Decisions
3. Strategy No. 21: Use S Corporation to Minimize Social Security and Medicare Taxes

21 Tax-Cutting Moves for Small Businesses and Their Owners

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