Total Credits: 2 including 2 Taxes - Technical
IRS loves to attack payments from closely held businesses to owners, particularly owner employees. The story is as old as the hills, but lately it plays out with some unexpected twists and turns. Lessons learned from recent developments provide meaningful guidance as to how to structure to achieve optimal tax treatment of such draws.
**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 leighanne.conroy@acpen.com.
*To empower the participant to understand each context within which draws by owner employees from their closely held businesses are taxed and how to structure such payments for best tax results
* How the rules for owner draws from C corps, S corps, partnerships, LLCs and sole proprietorships differ by context
* Trends in reasonable compensation for C corps, S corps and partnerships
* IRS' recent attack on "reasonable rents" (how do you figure a "reasonable rent" anyway?)
* Structuring a reasonably low salary from an S corp
* Structuring a reasonably low guaranteed payment from a partnership (can it even be done?)
* Recent case instructing how a loan to an S corp can be repaid (by the S corp) (even when the repayment pays the shareholder's personal expenses)
* How other taxpayers fail big on the loan repayment argument
* IRS' recent constructive dividend frenzy in Tax Court
* How C corps may not be as bad as you think
* How S corps are faring better in the courts than partnerships currently (in avoiding employment tax) and what to do about it
* Proper structure of loans and "capital to loan" ratios to keep it clean
Draws By an Owner_Slides (0.16 MB) | Available after Purchase |
Important CPE Credit Information_READ BEFORE WEBCAST UPDATED (0.47 MB) | Available after Purchase |
IRS CE Credit Request Form (0.15 MB) | Available after Purchase |
Bradley Burnett practices tax law in Colorado. After undergraduate (Business Administration/Accounting) school and law (J.D.) school, he earned a Master of Laws in Taxation (LL.M.) from the University of Denver School of Law Graduate Tax Program. After stints at national and local accounting firms and a medium sized Denver law firm, he established his own law firm in 1990, He has delivered more than 3,300 presentations on tax law to CPAs, attorneys, EAs and others throughout all fifty U.S. states, Washington, D.C. and seven countries. Bradley served four years as adjunct professor at the University of Denver School of Law Graduate Tax Program, where he pioneered an employment tax course and occasionally pinch-hit in the IRS practice and procedure field. He authors and teaches tax materials for Commerce Clearing House (CCH), has received the Illinois Society of CPAs Instructor Excellence Award and five times has been the most requested, top-rated presenter at annual state CPA tax institutes. His seminar style is briskly paced delivery of practical insights with humor.
Business Professionals' Network, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org
Online Registration
Please contact the ACPEN help desk 1-877-602-9877 or help@acpen.com if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer.
5 |
|
4 |
|
3 |
|
2 |
|
1 |
|