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Unique Tax Attributes of Different Entity Types (AET2)

Tuesday, January 14, 2025
10:00 AM - 12:00 PM (Eastern)

Dave Peters, CPA, CFP, CLU, CPCU, MST, MBA

  • Format Webinar
  • Credits 2.00
  • Level Basic
  • Field of Study Taxes (2)

$99.00


Overview

When putting together a financial plan, it is important to remember that the tax situation of the business and the individual are often intertwined. Therefore, decisions about entity type are vitally important. Practitioners need to understand not only how different entities are taxed, but also which taxes will have the greatest impact on the individual owner. In this course, we will explore when self-employment taxes apply to business income, as well as some of the lesser-known taxes that apply to flow-through entities. We will even explore when a PTE election could be helpful to a small business owner.

Major Topics:

  • Considerations for a small business owner
  • Self-employment taxes
  • Guaranteed payments to partners
  • QBI deductions: Section 199A
  • Built-in gains tax: S corporations
  • Excess passive income tax: S corporations
  • PTE elections: S corporations and partnerships
  • Taxation of fringe benefits: S corporations
  • Double taxation of C corporation dividends
  • Taxation of limited liability companies
  • Which entity to choose?

Learning Objectives

  • State the basic distinctions between various entity types
  • Identify when self-employment taxes must be paid by a flow-through entity owner
  • Recognize how an S corporation can avoid the built-in gains tax
  • Recall which entity types may make a PTE election under IRS Notice 2020-75

Who should take this course:

Accounting and finance professionals who work with entrepreneurial clients or clients in the beginning stages of starting a business

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