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ACPEN Signature 2024: Small Business: Hot Tax Issues Today!


Total Credits: 8 including 8 Taxes - Technical

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Categories:
ACPEN Signature |  Accounting and Auditing |  Tax |  IRS Approved
Faculty:
C. Clinton Davis, CPA, JD |  James A. Smith, CPA, CGMA |  William H. (Bill) Wilson |  Kathy Ploch, CPA
Course Levels:
Update
Duration:
8 Hours
License:
Product Setting: Expires 90 day(s) after program date.

Dates


Description

In addition to the many challenges faced by small businesses in today’s Post-COVID world, with labor shortages, serious inflation and “supply-chain” issues, small businesses face a variety of tax challenges from the time of formation of the business until sale.  There are numerous special rules in the Code.  And the IRS plans on increasing its small business audit emphasis.

**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 kori.herrera@acpen.com.

Basic Course Information

Learning Objectives
  • Learn how the IRS will increase its small business audit emphasis
  • Receive answers to common tax issues from true experts in the field

Major Subjects
  • Record retention, record production to the IRS and related matters
  • Dealing with IRS correspondence and penalty notices
  • The IRS attack on limited partners and LLC members for additional self- employment tax intensifies
  • Subchapter S employment tax issues and reasonable compensation
  • Choice of Entity and Using Hybrid Entities with differing federal and state classifications
  • Subchapter S inadvertent termination traps and the cost of remedies
  • Business Exit Strategies and using various types of entities in tandem
  • Should your accounting firm assist in filing Beneficial Ownership Information Reports with FinCen?

Course Materials

Faculty

C. Clinton Davis, CPA, JD's Profile

C. Clinton Davis, CPA, JD Related Seminars and Products

Krage & Janvey, L.L.P.


C. Clinton Davis JR, is with the law firm of Krage & Janvey, LLP in downtown Dallas.  He graduated cum laude from the SMU Dedman School of Law in 1980 and first in his graduating class from Northwestern State University of Louisiana in 1977 with a Bachelor of Science in Accounting.  He was first licensed in Florida as an attorney in 1980 and then in Texas in 1982.  He has been a licensed CPA in Texas since 1980.  He has been Board Certified in Tax Law by the Texas Board of Legal Specialization since 1988.  He has been named as a Super Lawyer, a Top Attorney in Texas by Texas Monthly, one of the Best Lawyers in Dallas by D Magazine and a Top Rated Lawyer by the Dallas Morning News, all in the tax area. 

Clint has in the past been an author and discussion leader for numerous CPE courses for the Texas Society of CPAs. Clint also speaks before various bar associations and accounting conferences. and is a frequent presenter and moderator on the Accountants’ Continuing Professional Education Network.

Clint primarily represents high net worth individuals and closely held businesses with much of his time devoted to real estate tax planning, implementation of S corporation ESOPs, mergers and acquisitions and private foundations.

 


James A. Smith, CPA, CGMA's Profile

James A. Smith, CPA, CGMA Related Seminars and Products

Managing Director

Smith, Jackson, Boyer & Bovard, PLLC


James A. (Jim) Smith, CPA, CGMA, serves as Managing Director of Smith, Jackson, Boyer & Bovard, PLLC, a Dallas Certified Public Accounting firm.  He practices extensively in tax compliance, planning and controversy representation for individuals and entrepreneurial businesses. He also is engaged in the preparation, compilation and review of financial statements; exit strategy planning for entrepreneurs; merger and acquisition planning and transactions; and forensic accounting and litigation services. 

Mr. Smith served as Chair of the Texas Society of CPAs (TSCPA) for the 2007-2008 year, and as a member of its Professional Standards and Federal Tax Policy Committees since their inception.  He served as a member of the AICPA Council 2007 through 2011 and from 2012 through 2015.  He also served as an appointed member of two of the AICPA’s key standard setting committees:  the Accounting and Review Services Committee from 2008 through 2011 and the Tax Practice Responsibilities Committee, 2014 to 2017.


William H. (Bill) Wilson's Profile

William H. (Bill) Wilson Related Seminars and Products


William H. “Bill” Wilson, CPA is a director in Whitley-Penn, LLP’s tax and consultingpractice, where he focuses on passthrough entity and tax controversy matters. Bill previously spent 37 years with the IRS before retiring as a manager in the Passthrough Entities Practice Group. At the IRS, Bill led the teams involved in the implementation of the tax basis capital account requirement for Form 1065 and the BBA partnership audit procedures.

Bill has taught partnership taxation at the graduate level and is a frequent speaker on partnership tax issues. Bill has an accounting degree from George Mason University and a Master of Taxation degree from Virginia Commonwealth University. He is active in the Texas Society of CPAs and the Petroleum Accountants Society of Dallas.


Kathy Ploch, CPA Related Seminars and Products

Tax Manager

Durio & Company, P.C.


Kathy Ploch, CPA, currently serves as a Tax Manager at Durio & Company, P.C., in the Houston, Texas area.  She prepares individual, corporate, partnership, estate, trust, and non-profit federal and state tax returns.  She also assists with IRS and collection issues.  She has been with this firm since 2019.  Previous to this position, Kathy worked for Harper & Pearson Company, P.C. where she served as Entrepreneurial Services Department Manager from 2012-1019.  From 1997-2012 she worked as a Tax Manager for Zientek & Company, P.C.  

Kathy received her Master of Business Administration, Accounting degree from the University of Houston in May, 1994 and became a Texas Certified Public Accountant in April, 1999.

Kathy served as President of the Houston CPA Society in 2009-2010 and was the Past Burden Reduction Sub-Group Chair of the Internal Revenue Service from 2009-2011.  From 2006 to the present, she has been on the Board of Directors for the Texas Society of CPAs, serves on the TXCPA Federal Tax Policy Committee, and was a Past-President and volunteer for the Texas Accountants & Lawyers for the Arts.  From 2014-2016, Kathy was a member of the AICPA Advocacy & Relations Committee, and from 2014-2019, she was an online reviewer of IRS Nationwide Tax Forum presentations.  She was a member of the AICPA Tax Executive Committee from 2016-2020.  Since 2020, Kathy has been serving as the Chair of the TXCPA Relations with IRS Committee and as an Associate Member of the AICPA Tax-Exempt Technical Resource Panel.


Additional Info

Basic Course Information

Prerequisites

None


Advanced Preparation

None


Designed For

Every CPA who supports and serves small businesses and their owners


Original Recording Date

5/15/24


Yellow Book

No


Course Developer

Business Professionals' Network (ACPEN)


Date Added to Catalog

3/6/2024


Additional Information

Complaint Resolution Policy

Please contact Anne Taylor for any complaints.


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


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.
 


Course Registration Requirements

Online Registration


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