Differentiate entity-type options available for small businesses. Select an appropriate strategy for compliance with the Affordable Care Act employer provisions. Identify the various ways in which LLC owners may be subject to self-employment taxes. Choose the correct tax treatment for fringe benefits granted to partners and S corporation shareholders. Highlights
Starting a business: the tax life of a business
Compensation of owners: hiring family members
Reasonable compensation
Tangible property regulations
Managing Section 1231 losses
Transactions with owners
Buy-sell and noncompete agreements
Special techniques for disposing of or liquidating a business in a tax-efficient manner
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More Information
Course No. 733700Level: Intermediate
Prerequisites:
Basic knowledge of business taxation
Notes
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Speaker(s)
Deborah Phillips
Deborah A. Phillips, M.S.T., CPA Deborah A. Phillips, MST, CPA, is the
Technical Executive Assistant in the Pre-Filing Technical Guidance area of the
LMSB Division of the Internal Revenue Service. Ms. Phillips began her career
with the IRS more than 27 years ago and has extensive accounting and taxation
knowledge of individual, corporate, and partnership federal tax returns. She was
a Territory Manager in the Retail, Food and Pharmaceuticals Industry, a Team
Manager in the Heavy Manufacturing Industry and the IRC Section 263A Technical
Advisor. She taught graduate and undergraduate courses in accounting and
taxation as an adjunct faculty member at Delaware State University, Wilmington
College, and Goldey-Beacom College. She has been a seminar presenter for over 15
years as well as a respected instructor within the IRS. Ms. Phillips earned her
master’s degree in taxation from Widener University.