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Draws By an Owner Employee from a Closely Held Business


Total Credits: 2 including 2 Taxes - Technical

Average Rating:
   4.4
Category:
ACPEN Industry Institute |  ACPEN Tax Institute |  IRS Approved |  Tax
Faculty:
Bradley Burnett, J.D., LL.M.
Course Levels:
Update
Duration:
2 Hours
License:
Access for 30 day(s) after program date.

Dates

Price


Description

IRS loves to attack payments from closely held businesses to owners, particularly owner employees.  The story is as old as the hills, but lately it plays out with some unexpected twists and turns.  Lessons learned from recent developments provide meaningful guidance as to how to structure to achieve optimal tax treatment of such draws.

This course was updated on April 3rd, 2019

 

**Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to leighanne.conroy@acpen.com.

Basic Course Information

Learning Objectives
  • To empower the participant to understand each context within which draws by owner employees from their closely held businesses are taxed 
  • To master how to structure such payments for best tax results

Major Subjects
  • How the rules for owner draws from C corps, S corps, partnerships, LLCs and sole proprietorships differ by context
  • Trends in reasonable compensation for C corps, S corps and partnerships
  • IRS' recent attack on "reasonable rents" (how do you figure a "reasonable rent" anyway?)
  • Structuring a reasonably low salary from an S corp
  • Structuring a reasonably low guaranteed payment from a partnership (can it even be done?)
  • Recent case instructing how a loan to an S corp can be repaid (by the S corp) (even when the repayment pays the shareholder's personal expenses)
  • How other taxpayers fail big on the loan repayment argument
  • IRS' recent constructive dividend frenzy in Tax Court
  • How C corps may not be as bad as you think
  • How S corps are faring better in the courts than partnerships currently (in avoiding employment tax) and what to do about it
  • Proper structure of loans and "capital to loan" ratios to keep it clean

Course Materials

Faculty

Bradley Burnett, J.D., LL.M. Related seminars and products: 19


Bradley Burnett practices tax law in Colorado. After undergraduate (Business Administration/Accounting) school and law (J.D.) school, he earned a Master of Laws in Taxation (LL.M.) from the University of Denver School of Law Graduate Tax Program. After stints at national and local accounting firms and a medium sized Denver law firm, he established his own law firm in 1990, He has delivered more than 3,300 presentations on tax law to CPAs, attorneys, EAs and others throughout all fifty U.S. states, Washington, D.C. and seven countries. Bradley served four years as adjunct professor at the University of Denver School of Law Graduate Tax Program, where he pioneered an employment tax course and occasionally pinch-hit in the IRS practice and procedure field. He authors and teaches tax materials for Commerce Clearing House (CCH), has received the Illinois Society of CPAs Instructor Excellence Award and five times has been the most requested, top-rated presenter at annual state CPA tax institutes. His seminar style is briskly paced delivery of practical insights with humor. 


Dates

Thu, Oct 08, 2020 - 09:00am to 10:58am CDT
Fri, Oct 23, 2020 - 01:00pm to 02:58pm CDT
Fri, Nov 06, 2020 - 09:00am to 10:58am CST
Fri, Nov 20, 2020 - 01:00pm to 02:58pm CST
Wed, Dec 09, 2020 - 09:00am to 10:58am CST
Mon, Dec 21, 2020 - 01:00pm to 02:58pm CST

Additional Info

Basic Course Information

Prerequisites None
Advanced Preparation None
Designed For Any person desiring to properly structure the draw of cash or property from a closely held business to its owner (typically owner employee) to achieve intended tax results
Original Recording Date 04/03/2019
Yellow Book No
Course Developer Bradley Burnett Tax Seminars, Ltd.
Date Added to Catalog 02/19/19

Additional Information

Complaint Resolution Policy Please contact Anne Taylor for any complaints. anne.taylor@acpen.com, (972-377-8199).
Official Registry Statement

Business Professionals' Network, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org


Instructional Delivery Method Group Internet Based
Course Registration Requirements

Online Registration


Refund/Cancellation Policy

Please contact the ACPEN help desk 1-877-602-9877 or help@acpen.com if you wish to cancel your attendance for a previously purchased webcast and are requesting a refund or transfer. 


Promo Video

Reviews

5
4
3
2
1

Overall:      4.4

Total Reviews: 45

Comments

Laura M

"The course was very helpful, informative and relevant to me."

Mandy C

"Slides not synced with video, runs ahead of presenter. "

Lindsey F - Ennis, Texas

" "

Jon D

"Good topic and technology worked perfectly"

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