ACPEN Signature 2023: Small Businesses: Big Tax Problems!
Total Credits: 8 including 8 Taxes - Technical
- Average Rating:
- 41
- Categories:
- ACPEN Signature | Tax | IRS Approved
- Faculty:
- C. Clinton Davis, CPA, JD | James A. Smith, CPA, CGMA | Matthew S. Beard, JD.
- Course Levels:
- Update
- Duration:
- 8 Hours
- License:
Description
In addition to the many challenges faced by small businesses in today’s Post-COVID world, with labor shortages, serious inflation and “supply-chain” issues, small businesses face a variety of tax challenges from the time of formation of the business until sale. There are numerous special rules in the Code. And the IRS plans on increasing its small business audit emphasis. Join us for this brand new CPE seminar developed by ACPEN.
**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.
Basic Course Information
Learning Objectives- Learn how the IRS will increase its small business audit emphasis
- Receive answers to common tax issues from true experts in the field
Major Subjects
- Tax implications of the form of entity (LLC v limited partnership v corporation, Sub S or Sub C) versus tax classification;
- The “check the box’ rules and conversion of filing status;
- Special tax breaks for small business and keeping the cash method;
- Subchapter S and partnership fringe benefit issues;
- Under reporting of compensation income by owner-employees of both partnerships and Sub S entities,
- The current status of Subchapter S “built-in gain” rules,
- Subchapter S inadvertent termination traps; and Business exit strategies
Course Materials
| Important_CPE Credit Instructions_Read Before Webcast (442.7 KB) | 2 Pages | Available after Purchase |
| IRS CE Credit Request Form (137 KB) | Available after Purchase | ||
| ACPEN_Signature_2023_Small_Businesses_Big_Tax_Problems_Manual (7.3 MB) | 168 Pages | Available after Purchase |
Faculty
C. Clinton Davis, CPA, JD Related Seminars and Products
Krage & Janvey, L.L.P.
C. Clinton Davis JR, is with the law firm of Krage & Janvey, LLP in downtown Dallas. He graduated cum laude from the SMU Dedman School of Law in 1980 and first in his graduating class from Northwestern State University of Louisiana in 1977 with a Bachelor of Science in Accounting. He was first licensed in Florida as an attorney in 1980 and then in Texas in 1982. He has been a licensed CPA in Texas since 1980. He has been Board Certified in Tax Law by the Texas Board of Legal Specialization since 1988. He has been named as a Super Lawyer, a Top Attorney in Texas by Texas Monthly, one of the Best Lawyers in Dallas by D Magazine and a Top Rated Lawyer by the Dallas Morning News, all in the tax area.
Clint has in the past been an author and discussion leader for numerous CPE courses for the Texas Society of CPAs. Clint also speaks before various bar associations and accounting conferences. and is a frequent presenter and moderator on the Accountants’ Continuing Professional Education Network.
Clint primarily represents high net worth individuals and closely held businesses with much of his time devoted to real estate tax planning, implementation of S corporation ESOPs, mergers and acquisitions and private foundations.
James A. Smith, CPA, CGMA Related Seminars and Products
Managing Director
Smith, Jackson, Boyer & Bovard, PLLC
James A. (Jim) Smith, CPA, CGMA, serves as Managing Director of Smith, Jackson, Boyer & Bovard, PLLC, a Dallas Certified Public Accounting firm. He practices extensively in tax compliance, planning and controversy representation for individuals and entrepreneurial businesses. He also is engaged in the preparation, compilation and review of financial statements; exit strategy planning for entrepreneurs; merger and acquisition planning and transactions; and forensic accounting and litigation services.
Mr. Smith served as Chair of the Texas Society of CPAs (TSCPA) for the 2007-2008 year, and as a member of its Professional Standards and Federal Tax Policy Committees since their inception. He served as a member of the AICPA Council 2007 through 2011 and from 2012 through 2015. He also served as an appointed member of two of the AICPA’s key standard setting committees: the Accounting and Review Services Committee from 2008 through 2011 and the Tax Practice Responsibilities Committee, 2014 to 2017.
Matthew S. Beard, JD. Related Seminars and Products
Matthew S. Beard, P.C
Matthew S. Beard, JD, practices with the firm of Meadows, Collier, Reed, Cousins, Crouch & Ungerman, L.L.P., based in Dallas, Texas. His practice spans two broad areas of taxation: estate planning and probate and income tax and business planning. In his estate planning and probate practice, Mr. Beard designs and implements estate and business succession plans with an emphasis on federal tax issues. He often works closely with accountants, bankers and financial advisors in this process. Mr. Beard also represents fiduciaries in all facets of estate and trust administration. This typically includes court proceedings, tax matters, administration and transfer of assets, and matters before the IRS. Mr. Beard is the author of "An Introductory Guide to Tax and Estate Planning," which provides an introduction to estate planning under Texas law and planning for federal estate, gift, and generation-skipping transfer taxes. On transactional matters, Mr. Beard advises clients with a focus on tax issues. He works with a broad range of entities, such as partnerships, limited liability companies, and publicly traded "C" corporations. Transactions include formations, acquisitions/mergers, and liquidations. Mr. Beard is the author of "Annotated Tax Provisions for Limited Liability Companies," which includes tax provisions for company agreements with explanations of how the provisions operate and provide pass-through taxation. Prior to joining the firm in 2012, he was an associate with one of the largest Texas-based law firms.
Additional Info
Basic Course Information
Prerequisites NoneAdvanced Preparation
None
Designed For Every CPA who supports and serves small businesses and their owners
Original Recording Date 05/17/2023
Yellow Book No
Course Developer Business Professionals' Network (ACPEN)
Date Added to Catalog 03/01/2023
Additional Information
Complaint Resolution PolicyPlease contact Anne Taylor for any complaints.
Official Registry Statement
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
Instructional Delivery Method
Group Internet Based
Refund/Cancellation Policy
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.
Course Registration Requirements
Online Registration
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