Tax Planning for Small Businesses - Tax Staff Essentials

Overview

Modern planning ideas and tax-saving strategies to help guide your small business clients.

Prerequisites

Working knowledge of business taxation

Objectives

• Identify important tax considerations for the small business at each stage of its life.
• Calculate the qualified business income (QBI) deduction, built-in gains (BIG) tax, and the deduction for organizational costs and start-up costs.
• Differentiate the advantages available for small businesses based on entity type.
• Apply the four tiers of business losses for noncorporate taxpayers.
• Analyze which activities of a taxpayer are subject to self-employment taxes.

Highlights