Materials Provided​

After signing up and paying for the seminar, you will receive an email with the seminar's Zoom link as well as a link to a private webpage that will contain the course materials.   

• Zoom link to the seminar emailed to you immediately after signing up and paying.

• Seminar slides in pdf format.  15 minutes before the start of the seminar, a link will be added to the webpage to download your copy. You will receive a link to that private webpage immediately upon signing up and paying for the course.

• Link to re-watch the seminar until October 31, 2024 (next year), provided 48 hours after the seminar ends.  NO CPE can be earned by re-watching the video.  You must attend live to receive CPE credit.

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Major Topics

• Federal Tax issues related to S-Corporations (Form 1120-S) and Partnerships (Form 1065)

• Tax affects to individuals who own flow-thru entities; S-Corporations and Partnerships

• Federal business tax issues with the latest IRS developments affecting businesses

• Inflation Reduction Act & Secure Act 2.0

• What’s new in 2023

• GREEN ENERGY TAX INCENTIVES 

  • Federal green commercial vehicle tax credits

  • Alternative fuel vehicle refueling property credit

  • Federal solar tax credits for businesses

  • Tax credit transfers

  • Energy efficient commercial building deduction

  • Credit for Builders of Energy-Efficient Homes

• BUSINESS TAX CREDITS

  • Work opportunity credit

  • Empowerment zone employer credit

  • New markets credit

  • Research & development (R&D) credit

  • R&D credit coupled with IRC Section 174 

  • Small business health care credit

  • Family leave credit

  • Alternative energy credit

  • Biodiesel income tax credit

• EMPLOYEE RETENTION CREDIT (ERC): UPDATE ONLY ON THE LATEST FROM THE IRS

• Material participation defined for business owners

• PARTNERSHIPS

  • Major, general tax factors to consider

  • Partner W-2 wages?

  • Guaranteed payments vs. distributions

  • Self-Employment earnings

  • Partner’s personal expenses paid by partnership

  • Partner health, dental, vision & LTC

  • Schedule K-2 & K-3 for partnerships

  • Share of liabilities tax and audit considerations

  • Partnership ”Bottom Dollar Guarantees”

  • Partnership representative

• S-CORPORATION MATTERS

  • Social security taxes adjustments

  • IRS S-corporation acceptance letter language 

  • Shareholder wages vs. distributions

  • Reasonable compensation vs. distributions

  • The mechanics and triangulation of shareholder wages, distributions and net ordinary income

  • More than 2% shareholder health, dental, vision and long-term care insurance

  • Shareholder personal expenses paid by the S-corporation

  • Schedule K-2 & K-3 for S-corporations

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Learning Objectives

• Learn what tax laws have changed with these topics

• Learn to better understand recent tax law changes of these topics and how they may apply to you or your client's circumstances

• Learn more about these topics to better serve your clients with expanded and up-to-date information

• Learn of the effective dates of law changes

• Learn what is projected as future hot areas of potential IRS audits

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Prerequisites

Participants should be familiar with Federal tax issues for various entities

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Advanced Preparation

None

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Technology Requirement

Access and ability to watch a live Zoom broadcast.

Zoom has a free version. To set up your Zoom account, CLICK HERE.  To be re-directed to the Zoom website for more information, CLICK HERE

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IRS Enrolled Agents

The CE seminars are registered with the IRS, and will qualify as CE for Enrolled Agents. This CE program sponsor IRS provider number is YWTHG under the Organization name of JJ the CPA, PLLC. You must timely submit your attendance form with PTIN. CLICK HERE​ for further IRS information for Enrolled Agents CPE.

 

When will I get my CPE* certificate of completion?

Within 3 business days of you providing the required words to help@jjthecpacpe.com.  This is a live format, and requires your attendance during the time designated. CLICK HERE for more information.

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What if You Don't Need CPE*

You do NOT need to be a CPA, EA or tax professional to attend this seminar.  It is open to the public.  If you don't need to earn CPE*, then the below does not apply to you.

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AICPA CPE* Requirements

This CPE provider is NOT registered with NASBA at this time. This CPE program sponsor has prepared and will present this course in accordance with The Statement of Standards for Continuing Professional Education (CPE*) Programs jointly issued by the American Institute of Certified Public Accountants (AICPA) and the National Association of State Boards of Accountancy (NASBA).    CLICK HERE for a copy of these Standards.

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NASBA Disclosure

This CPE program sponsor is NOT registered with the National Associate of State Boards of Accountancy (NASBA) at this time.  CPE program sponsors are not required to be registered with NASBA to provide qualifying CPE.  CPE credit can qualify as such for CPAs provided that the AICPA and NASBA standards (aforementioned) are followed.  CLICK HERE for a list of all 50 states with a link to its CPE requirements to review your state CPE requirements.

 

Your State CPE Requirements

State boards of accountancy have final authority on the acceptance of individual courses for CPE* credit.  CLICK HERE for a list of all 50 states with a link to each states CPE requirements for CPAs.  Review your states CPA CPE requirements.  Some states require your provide the CPE program sponsors "state" ID.  This CPE Program sponsor does not have any specific state IDs at this time.  This CPE program sponsor has no separate state ID number for Illinois, New York, New Jersey, Ohio, Texas or Pennsylvania.

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Licensed CPAs in Illinois, New York, New Jersey, Ohio, Texas,  Pennsylvania

NO SEPARATE STATE SPONSOR ID FOR THESE STATES IS AVAILABLE AT THIS TIME WITH THIS  CPE PROGRAM SPONSOR

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Can Attorneys, Insurance Agents or CFPs Obtain CLE/CE Credit?

No.  None of these courses provide CLE for attorneys, CE for Insurance Professionals or CE for Certified Financial Planners