Self-Study Course
Trending Topics and Tax Strategies
7 CPE for AFSP, EA, CPA, CRTP
Fees
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Not a member
Summary
Tax planning is an essential part of the services tax professionals offer. This course covers common situations tax pros need to fully understand to develop appropriate tax strategies for their clients.
Planning opportunities for individuals include IRA contributions, Roth conversions, required minimum distributions (RMDs) and Social Security.
For small business owners, including gig workers, the course covers planning opportunities using self-rental arrangements, depreciation and employing family members. An analysis of a two-member LLC explores entity classifications, partnership vs. S corporation taxation, funding methods, owner payments, fringe benefits and adding new members. The tax implications of changing an LLC’s tax classification are also examined.
Objectives
Upon completion of this course, you will be able to:
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Identify the different methods for optimizing retirement savings
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Outline the pros and cons of converting a traditional IRA to a Roth IRA
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Summarize the tax implications of employing family members, including children and spouses
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Define self-rental and list tax planning opportunities
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Identify the default tax treatment of LLCs and the process for electing S corporation status
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Outline the various methods for funding an LLC and compensating the members
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Summarize how partnerships and S corporations handle contributions, loans and basis calculations
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Outline the options for adding owners to a partnership or a S corporation
Course details
This course includes an e-book and exam questions to help you earn CPE. CPE is issued after the exam is successfully completed.
Course Year: 2025
Course Level: Intermediate
Prerequisite: Fundamental knowledge of individual and business income tax
Advanced Preparation: None
Delivery Method: QAS Self Study
How to earn CPE
To receive credit for this self-study course, you must successfully pass the course exam with a score of 70% or better.
Self-study courses and exams generally expire one year from the date of purchase.
Cancellation policy
Because this is an online education offering, it is nonrefundable.