Your Course Price: $699.00
Atlantic City STW Day 2 | Atlantic City , Special Topics
- Course Description
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Course Title Topic #1 - Two Owners, One Entity; Flip a Coin: Heads Partnership, Tails S-Corp
This course reviews the business decision process of which type of business entity would best fit the tax needs of a trade or business owned and operated by 2 or more investors.
The course will discuss formation, operation, transfer of assets to obtain ownership, and the eventual liquidation of the business entity from a federal income tax approach.
This course will review Internal Revenue Code provisions for formation under §721 for partnerships, and §351 for corporations, and discuss that the formation is generally treated as a non-taxable event. The session will also review the exceptions to the formation which could trigger a tax at the individual investor level.
The presentation will review the issues of these two separate and distinct pass-through tax entities as they pertain to income tax, including the issues of employment taxes and the similarities and differences for the §199A Qualified Business Income Deduction.
This session will discuss the basis issues of the partner of a partnership, both for the inside basis of the partnerships’ assets and outside basis of the individual partner’s investment as well as the responsibility for entity debt, and the allowance of current year losses.
The session will distinguish the differences between the investment by an S- corporation shareholder and the corporation‘s debt as well as the shareholder loans made to the entity and the limitation on current year losses.
Course Title Topic #2 - U.S. Savings Bonds: Federal Income Tax Benefits
This course provides Tax Professionals with a introduction and review of the federal income tax benefits of investing in U.S. Savings Bonds. The session will discuss the benefits of the deferral of recognition of income for purposes of federal income tax and push the recognition of income into a future period. The presentation will also discuss the possibilities available for complete exclusion of income from federal income tax.
The course will discuss issues pertaining to:
- Co-owners of Bonds
- Deceased Bond Owners
- Transfer of Bond Ownership During Life
- Use of Bond Proceeds for Qualified Educational Expenses
- §454 Accounting Period Elections
- Planning Opportunities for the Decedent’s Final Form 1040,
- Planning Opportunities for the Decedent’s Surviving Beneficiaries
- Planning Opportunities for the Decedent’s Estate and Trust
- Learning Objectives
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Topic #1
At the conclusion of the session, participants will have a broader base of knowledge needed for advising clients who are starting a trade or business as to which type of trade or business entity better serves the tax needs of the individual investors.
The Tax Professional will better understand the benefits, burdens and opportunities of each pass-through entity and will be better equipped to discuss the issues relating to the results of net income and net loss of each pass-through entity to their clients. They will also have received a detailed review of Form 1065 and Form 1120-S.
Topic #2
At the conclusion of the session, participants will have an enhanced knowledge of the federal income tax benefits available for deferral and exclusion of federal income tax from the investment in U.S. Savings Bonds.
Tax professionals will be able to better advise clients on the federal income tax benefits of the investment in U.S. Savings Bonds as a tax savings vehicle.
FAQ
To receive the member price, first log into your member account. Your member discount will then be automatically applied. We can also take your registration by phone.
This varies by location and seminars. Please check your specific course schedule for more details.
Yes. Each attendee will need to make their own travel and hotel reservations.
Your registration confirmation will be emailed to you when your payment is processed. During our busy season, this can take up to 2-3 business days after we receive your registration.
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Yes. If you have a PTIN on file with us, we will submit your hours. To insure we have your correct info, please provide your PTIN when you register for a course. Please notify us if you have recently submitted a name change request to the IRS.
Your certificate will be emailed to you within 10 business days of the completion of the course.
Administration: Special Topics
Special Topics Refunds
- Refunds or transfers to future education are allowed up to 7 days prior to the beginning of the course.
- A $25 administrative fee will be charged for all course changes.
- There are no partial refunds or discounts if a portion of the course is missed.
- Once the Course Materials PDF is emailed, refunds are no longer available for that course.
- Registrations must be received no later than 7 days prior to the beginning of the course.
- Registrations received after this date will be subject to a $35 late fee.
- A $25 administration fee will be charged for all course changes.
- An administrative charge of $25 will be assessed when any requested course changes are made.
- Live courses may not be retaken without additional payment.
- NSTP reserves the right to cancel any program or course for circumstances that are not under direct control of NSTP. If a course or program is cancelled, participants will be refunded 100% of their registration fee.
- We do not accept walk-in attendees. Payment must be received in advance of the class.
- Special Topics materials and Special Topics presentations are intended to stimulate thought and discussion and to provide attendees useful ideas and guidance in the areas of federal taxation and administration. These materials as well as the comments of the instructors do not constitute and should not be treated as tax advice regarding the use of any tax procedure, tax planning technique, device or suggestion, or any of the tax consequences associated with them.
- Although the NSTP has made every effort to ensure the accuracy of the materials and the seminar presentation, neither the author, the presenter nor the National Society of Tax Professionals assumes any responsibility for any individual’s reliance on the written or oral information presented during the presentation. Each attendee should verify independently all statements made in the materials, and during the seminar presentation, before applying them to a particular fact pattern and should determine independently the tax and other consequences of using any device, technique, or suggestion before recommending the same to a client or implementing the same on behalf of a client, or on the attendee’s own behalf.
- Special Topics materials & presentations are fully protected under copyright law. Any attempt to copy for resale, distribution, or use other than personal use for tax preparation will be fully prosecuted of the law.
- Only paid registrants can attend seminars. In consideration of your fellow attendees, guests will need to depart before the session begins.
Executive & Charter Members
Executive & Charter Members Special Topics Refunds
Executive & Charter Members Special Topics Refunds
- Executive/Charter Members will be charged a $150.00 administration fee if they fail to cancel a course registration and fail to appear for the seminar.