CPE Course The Top 50 Business Tax Mistakes Practitioners Make & How to Fix Them

November 13, 2017

8:30am — 4:15pm

Location Manchester

Member Price $259.00Register after October 23 and pay $279.00
Non-member Price $359.00Register after October 23 and pay $379.00

Curriculum Taxation

Field of Interest Taxation (General)

Level Intermediate

Designed For

CPAs who wish to get a broader insight into tax planning by understanding the significant mistakes professionals can make and how to avoid them

8.00 credits

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Objective

If only we could see ourselves as others see us. Learn the traps taxpayers fall into – before you make the mistake. Attend this enjoyable yet very informative course that focuses on the law while exploring some of the top errors made in compliance and tax planning for business entities. The study of the law underlying the tax or practice issue will assist practitioners in satisfying their professional standards of practice and will help in preparing business tax returns. Avoid these missteps, plan for a better tax result, and benefit from a wealth of knowledge that can be applied to practice.

Learning Objectives:
• Discuss business transactions that have significant tax effects and the need to do proper tax planning
• Describe the most substantial mistakes that practitioners can make in dealing with the tax aspects of businesses

Highlights

Major Topics:
• Do not get caught watching the paint dry
• Current practice issues regarding basis, and a new look at debt vs equity
• Keeping an eye on possible upcoming changes, including those from the Department of Labor
• Can I amend prior returns to correct an impermissible accounting method?
• S Corporations: Just what is causing inadvertent terminations today, which happens more than you think; and errors in basis, structuring debt, distributions and liquidation
• LLCs and partnerships: Mistakes in allocation of debt, fringe benefits, unreimbursed expenses; oversight in not taking into account limitations at the entity level; and pension issues
• C Corporations: Keeping a stock redemption a capital transaction;and why small business owners should consider taking dividends
• Travel and entertainment: tricks and traps
• Related party transactions: explore business issues and the significant tax problems that can occur with failure to recognize a related party transaction
• Is there a flexible standard of law for small closely held businesses?

Instructors

Robert M. Gilwee, Jr., MS, CPA

Robert M. Gilwee, Jr., MS, CPA, is a member of the accounting firm of Gilwee and Green LLC. He has more than 20 years of practice experience in taxation. His background includes assistance in resolving tax-structuring issues using LLCs, S corporations and other entities. He is a frequent discussion leader on a variety of taxation topics. He received the 1985 Top Manuscript Award from Coopers & Lybrand and he is a member of the adjunct faculties of several colleges in his area. He is also an instructor in the Lambers CPA review course.close

Prerequisites

Experience with business clients

Developer

Surgent McCoy CPE, LLC

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