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Tax Planning for Your Small Business

Exam Questions: 30
Course Level: Basic
Pages: 158 | Content: 144, Supplemental: 14
NASBA Area of Study: Taxes
Not Acceptable for: N/A
Version: 7700B

This course offers strategies for a variety of small business tax planning needs. It will serve as an excellent resource for planning strategies that can help you run a tax-smart business all year long. It will provide guidance on opening or closing a business, running a sideline activity and succession planning. You'll be able to visualize how your business actions today can affect your bottom line from a tax perspective tomorrow. All course material provided. No prerequisites. Course level: Basic.

EA Program Approval Number: ZX34G-T-00409-21-S

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Course Information

Table of Contents
  • Income and Deduction Strategies
  • Distributions from Your Business
  • Tax Strategies for Opening or Closing a Business
  • Tax Strategies for a Sideline Business
  • Tax Strategies for Multiple Businesses
  • Alternative Minimum Tax
  • Other Taxes
  • Filing Tax Returns, Paying Taxes, and Making Refund Claims
  • Retirement and Succession Planning
  • Handling Audits with the IRS
Objectives
  • To identify beneficial income and deduction strategies
  • To recall the account used by S corporations to keep tabs on undistributed amounts that were taxed to shareholders
  • To identify workable strategies when opening or closing a business
  • To identify tax strategies when running a side business
  • To identify helpful strategies when running more than one business
  • To recognize the nuances of the alternative minimum tax
  • To recognize the specifics of FICA, employment taxes and more
  • To identify the nuances of estimated taxes, electronic filing, and extensions
  • To identify strategies for retirement and succession planning
  • To identify the various types of audits

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