The Best S Corporation, Limited Liability, and Partnership Update Course by Surgent

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Instructor

Bill
Taylor

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Bill Taylor

Bio

William F. (Bill) Taylor, CPA of Taylor, Mississippi, has been an employee benefit and investment consultant for over 20 years, beginning his career as the Employee Benefits Coordinator in the Jackson office of KPMG Peat Marwick and managing his own firm for over 15 years. Bill served as MSCPA Chairman in 2017-2018, MSCPA Secretary in 2008-2009, and was Chairman of MSCPA's Continuing Education Committee for seven years. He has also served as Chairman of the Public Service Committee and as Board Representative for the Northwest Chapter. A nationally known consultant and speaker, Bill has conducted seminars for the American Institute of Certified Public Accountants, the American Society of Pension Professionals and Actuaries, more than 45 state CPA and Bar associations and other organizations. He was awarded as an AICPA Outstanding Discussion Leader in 2008 and 2014. Bill is the author of Taxation of Employee Benefits Volume I and Volume II, and his articles have appeared in numerous publications.

This year practitioners need to keep abreast of tax changes affecting pass-through entities used by their business clientsand 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, helpingpractitioners stay informed about relevant and significant topics that may impact their clients. Continually updated toreflect enacted legislation.

Major Topics

Congressional Budget Reconciliation Process - explore how this powerful legislative tool allows Congress to fasttrack tax law changes and how it could be used to enact significant tax reforms in the current political climate

President Trump's tax proposals - review key components of President Trump's tax agenda, including a tip incomeexemption, overtime pay relief, Social Security tax exemption, auto loan interest deductibility, SALT deductionmodifications, a lower corporate tax rate, restoration of 100% bonus depreciation, immediate R&D expensing, andpermanent extension of select TCJA provisions

Potential expiration of select TCJA provisions - understand the implications for taxpayers as key provisions of theTCJA approach sunset dates

Tariff policy and implementation - analyze the use of tariffs as a fiscal and trade policy tool

Principles and considerations for nonresident withholding, composite payments, and passthrough entity taxes

Partnership Distributions, Form 7217, and S Corporation Redemptions

Thinking beyond §163(j) -- Interest Allocation Rules, Original Issue Discount, Applicable High Yield DiscountObligations, Convertible Corporate Debt Instruments, and Debt-Financed Distributions

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, limitedliability companies, and limited liability partnerships

Form 1099-K reporting requirements

Bonus depreciation

Section 174 Research & Experimental Expenditures -- guidance under Notice 2023-63 and Notice 2024-12

Decentralized Autonomous Organizations (DAOs)

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

CPE Credits Available

8 CPE

8: Taxation

Things to Know About This Course

Course Level

Update

Professional Area of Focus

Partnership Tax
Pass Thru
S Corporations
Taxation

Provider

Mississippi Society of CPAs