This year practitioners need to keep abreast of tax changes affecting pass-through entities used by their business clients
and employers, and this enlightening course delivers that information. You will learn invaluable strategies, techniques,
innovative tax-planning concepts, income-generating ideas, and other planning opportunities available to S corporations,
partnerships, LLCs, and LLPs. In addition, this course will discuss current trends and emerging issues, helping
practitioners stay informed about relevant and significant topics that may impact their clients. Continually updated to
reflect enacted legislation.
Learning Objectives
- Understand the major issues on which taxpayers and the IRS are in conflict
- Understand recent IRS guidance and legislation impacting pass-through entities
Major Topics
- Discussion of key individual provisions of the One Big Beautiful Bill Act, such as TCJA provisions made permanent,
- new tip income deduction, new overtime pay deduction, Trump accounts, and the expanded SALT cap
- Comprehensive coverage of business provisions of the One Big Beautiful Bill Act, including but not limited to:
- 100% Bonus Depreciation made permanent, including new Qualified Production Property (QPP) provisions
- Increased §179 deduction
- Changes to §174 R&E Expenditures, including restoration of immediate expenses
- Changes to §163(j) and new election withdrawal opportunities under Rev. Proc. 2026-17
- Form 1099/1099-K changes and increased reporting thresholds
- Qualified Small Business Stock Exclusion changes
- Excess Business Loss Limitation
- Section 1244 Small Business Stock and Section 1202 Qualified Small Business Stock treatment and applicability
- Passthrough compensation planning, including:
- The reasonable compensation requirement for S corporation owner-employees
- The legal framework, case law landscape, and IRS enforcement priorities
- Guaranteed payments, SE tax planning, and the OBBBA's new compensation interactions
- Principles and considerations for nonresident withholding, composite payments, and passthrough entity taxes,
- including the OBBBA's impacts on the SALT cap and PTET elections
- The tax accounting method change framework - what constitutes a method of accounting, the Form 3115 filing
- process, §481(a) adjustment mechanics, and the critical differences between voluntary, IRS-initiated, and
- unauthorized changes
- Timely coverage of breaking tax legislation
- Selected Practice and Reporting Issues: What’s new?
- A review of recent cases and tax law changes and IRS guidance affecting S corporations, partnerships, limited
- liability companies, and limited liability partnerships
- Decentralized Autonomous Organizations (DAOs)
